Micro Enterprise Loan

Enterprise Loan

A micro-enterprise under this loan category is usually a small business engaged into manufacturing, trading or services.

  • MEL is working capital loan to the micro enterprises.
  • MEL loan is provided up to 50,00,000
  • Loan tenure is upto 120 Months
  • The interest rate for the product ranges up to 36%.
  • Loan extended to over 190 categories of micro enterprises ( more are added from time to time)
  • Usually utilized for stocks, extending more credit or replacing trade credit and for replenishing working capital used for consumption
  • Hassle free loans – quick turnaround time.
  • Facility to have limit based loans.
Customer Profile
  • Small Enterprises which includes retailers, traders, small manufacturers and service providers
  • Between 22 to 65 years
Business vintage
  • 3 Years
Industry Experience
  • 5 Years
Monthly Income
  • 20,000/- or above
  • Photograph - Latest Color Photograph
  • Identity Proof of Applicant(Any One) - Voter ID Card / PAN Card / Passport / Driving License / Aadhar Card
  • Age Proof(Any One) - Voter ID Card with Date of Birth / PAN Card / Passport / Driving License / Aadhar Card / Govt. issued document with date of birth
  • Signature Verification - Bank Signature Verification
  • Address Proof (Any One) - Electric Bill / Tax Bill / Water Bill / Gas Bill / Fixed Line Telephone Bill  Post Paid Mobile Bill
  • Ownership Proof(Any One) - Electric Bill / Tax Bill / Water Bill / Possession Letter or Sale Deed with Latest Utility bill
  • Identity Proof of Firm(Any One) - Shop Establishment Certificate / PAN Card / PAN Intimation Letter / Wealth Tax Assessment Order / Partnership Deed And Supplementary Agreement for Appointment and Retirement of any Partner
  • Income Proof(Any One) - Shop Establishment Certificate / Sales and purchase bills / ITR / Financials with all schedules of last 3 years
  • Bank Statement - Last 6 months’ bank statement of all bank accounts

*MAS reserves the right to ask for additional documents

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