An SME loan is tailored for small and medium enterprises that require funds for expansion, purchasing machinery, hiring staff, or day-to-day operations. Banks and NBFCs offer flexible SME financing with tenures ranging from 12 to 60 months and minimal documentation. These loans can be either secured or unsecured, depending on the loan amount and profile. Most lenders prioritize businesses with a solid turnover, clean credit history, and Udyam registration. With digital applications now the norm, entrepreneurs can apply from anywhere and get approvals within days. Whether you're scaling up or stabilizing, an SME loan ensures your plans are never held back.
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