So, How does MSME loan work?

Funding your small business and taking it further on the path to success has now been made easy! LoanTap and Bank of Maharashtra have come together to make access to funds more convenient, affordable and easy for small-medium scale businesses. Under our co-lending model you can avail a loan to expand your business, upgrade machinery, invest in inventory or maintain liquidity for daily operations.

Why take MSME Loan from LoanTap?

Unplanned expenses, medical emergencies or any such situation can crop up unexpectedly. You may not have sufficient funds to meet this requirement. But keep your worry aside. LoanTap’s Personal loan is available online, instantly and through a transparent process as you like it.

Instant approval & disbursal

Instant approval & disbursal

Easy online process for loan sanction and fast disbursal within 24-36 hours
Flexible Repayment Option

Flexible Repayment Option

Flexibility to choose accelerated repayment option or foreclosure after 6 months of disbursal
Higher Loan Amount

Higher Loan Amount

Option to choose from amount ranging from INR 50,000 to INR 2,50,000 basis your requirement
Longer Loan Tenure

Longer Loan Tenure

Flexibility to choose longer loan tenure from 6 months to 36 months making EMIs more affordable
Minimum documents

Minimum documents

We collect only what is basic minimum documents for all our custom Business loan products
Transparent Process

Transparent Process

No hidden charges, No pre-payment charges and secured processes
Basic Eligibility Criteria for availing MSME Loans with LoanTap
  • Individuals with a minimum monthly income of INR 30,000
  • Indian citizens/residents who are 21 years and above
  • Individuals must have filled the latest ITR
Basic Documents required for availing MSME Loans with LoanTap
  • PAN Card
  • Aadhaar Card/ Driving License/Passport
  • Bank statement of last six months
  • Income tax returns of last two years

Business Loan Product Suite

No matter what your requirement, use LoanTap’s Business Loan to fulfill all your needs.

MSME Loan

AfterPay – Merchant

Working Capital Loan

Flexible Repayment options

Final installment options for a loan will be decided based on your profile and inputs.

Term Loan

Repayment done via Fixed Equated Monthly Installments, where EMI=Principal + Interest.

Each Installment reduces both interest and Principal amount.

Ideal when: You know the precise Loan Amount needed and your income is consistent.

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Your Business loan, Your Way!

Avail our business loans through your preferred platform and enjoy unmatched convenience at your fingertips…

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Website
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Our App
iOS
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WhatsApp

Frequently Asked Questions

An MSME Loan is a Business loan extended to small – medium businesses. LoanTap and Bank of Maharashtra have come together to make access to funds more convenient, affordable and easy for business owners. This loan can be used to expand your business, upgrade machinery, invest in inventory or maintain liquidity for daily operations.

We need below documents for processing your loan request-

PAN,
Address proof,
GST registration / Shop Act License,
6 month’s bank statement,
Latest 2 years ITR filed.

However, we might request for other documents if need arises during credit checks.

We offer business loans from Rs 50,000 up to Rs 2,50,000. Final loan amount is decided on the basis of your eligibility and credit checks.

Any individual with a monthly income more than Rs 30,000 can apply online and check eligibility at https://loantap.in/msme-business-loan/. You will need to fill in few basic information to know your basic eligibility instantly. Final loan amount is decided on the basis of your eligibility and credit checks.

Personal Loan is available in cities where LoanTap is operational. Currently we are providing our loans in Ahmedabad, Bengaluru, Bhopal, Chandigarh, Chennai, Coimbatore, Delhi NCR, Indore, Jaipur, Lucknow, Mumbai, Nagpur, Nashik, Pune, Raipur, Vadodara, Patna, Agra.

We have a very quick and efficient underwriting system which ensures that we deliver to you on time. It usually takes from 24 hours to 36 working hours; provided all documentation and credit checks are in place.

Processing fee for this loan is 2%+ applicable taxes; on the gross loan amount sanctioned.

Yes, you can make higher payments towards your loan. No charges for higher payments or foreclosure are applicable post 6 months. Within 6 months you can make part payments or foreclosure-with minimal charges applicable.

Yes, you can pre-pay the loan facility post 6 months of disbursement. No foreclosure charges are applicable post 6 months of loan completion, however within 6 months you can prepay your loan with minimal charges.