Get Emergency MSME Loan approval in 3 working days*
*after sharing all the necessary documents with us.
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This service is fulfilled byour trusted partner GROMOR FINANCE.
Gromor aims at providing you the impetus to keep the wheels of the economy running.
For the working capital needs of the business.
- LLP and Private Limited Company.
- An immediate family member as a co-borrower residing in the same residence is required.(Spouse/Son/Father/Mother)
- One post dated cheque of the full loan amount.
- Four post dated cheques of the equated weekly instalment (EWI) amount.
- The repayment schedule will be in Equated Weekly Instalments (EWI).
- The maximum repayment period (tenure of the loan) will be from 12 to 15 months.
DISBURSAL OF LOAN AMOUNT
- Sanction Loan Amount- up to 1 Lakh.
- Processing Fees- 1% of the loan amount + GST will be deducted from the borrower’s account.
- Loan disbursement will be done in 3 equal parts.
- Both borrower and co-borrower will be covered in the insurance.
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FAQ's for Emergency MSME Loan
Interest is calculated on reducing balance as it is beneficial for the borrower.
For example, the interest is charged at 16% p.a. on reducing balance meaning that the borrower repays at the equated weekly instalment/s. Hence the actual rate of interest becomes less than 9% p.a.
Yes, provided you are having a tourist taxi business like Ola/ Uber as a self-employed person, you will be eligible for the loan. However in a current scenario, the tours and travel business is not eligible for the Emergency Loan Scheme as it is at a standstill and dependent on the interstate travel rules. Also, the demand from tourists for tour bookings is very less.
The loan amount will be disbursed in 3 equal parts.
CIBIL score is an important factor. We check the credit history of the borrower and assess the business on different factors such as last loan track record, repayment history, etc. and come up with our credit assessment results.
The rate of interest charged for this Emergency Loan will be at 16 % reducing balance basis.
If your business is not listed in the specified business category you can select ‘not defined’ or ‘other’ as an option and proceed.
Presently, NBFCs are considering loan requests for existing businesses of say a minimum of 12 months operational period. As these loans are unsecured, a thorough check of business track record is done, hence new businesses or startups are not eligible for this loan.
Yes, a business having entity-specific documentation in place, such as partnership deed, MOA, AOA are eligible for this loan. Also, for partnership minimum 2 partners and for Pvt Ltd company minimum, 2 directors are required.
Currently, we are not providing service to the OPC business entities as there are variations while considering such type of entity.
Our partners in the journey
deAsra is associated with many organizations in the mission of promoting mass entrepreneurship.These organizations include funding partners, service partners, like-minded NGO’s and CSR’s working towards generating jobs through entrepreneurship, and entrepreneur clubs