Rahul Rai

Qualifying for an MSME loan can provide essential financial support for small and medium businesses to grow and thrive. Understanding the eligibility criteria is important for businesses seeking such loans. In this article, we will explore the requirements and process in detail, answering the question: What is MSME loan ? and how businesses can meet the necessary qualifications. Ways To Qualify for MSME Loan Below are the basic criteria that you will have to fulfil to get an MSME Loan. Business Type To qualify for an MSME loan, your business must fall under the definition of Micro, Small, or Medium Enterprises as per the classification set by the government. The criteria depend on your business's investment in equipment or turnover, with specific limits for each category. Business Continuity Lenders generally prefer businesses that have been in operation for at least two to three years. A proven track record of revenue generation and stability improves the chances of loan...

The personal loan interest rate plays a significant role in determining the overall cost of borrowing. Several factors influence the rate offered by lenders, ranging from your credit score to market conditions. In this article, we will explore the top factors that affect personal loan interest rates and help you understand how to secure the best deal. Factors That Influence Personal Loan Interest Rate Below are some of the major factors that influence personal loan interest rates. Credit Score Lenders use your credit score to assess your creditworthiness. A higher score typically leads to lower interest rates, as it signals reliable repayment behaviour. A lower score may result in higher rates due to perceived risk. Income and Employment Stability A steady income from a reputable source reassures lenders of your ability to repay the loan. Higher income and job stability usually translate to more favourable interest rates. Loan Amount and Tenure Larger loan amounts or lon...