MSME Business Loans in 59 Minutes for Food Industry - PowerPoint PPT Presentation

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MSME Business Loans in 59 Minutes for Food Industry

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Are you thinking of creating MSME, or small and medium-sized enterprises? Do you want to expand your established food industry? If so, you can get a loan of up to 1 crore in just 59 minutes. The loan is granted by the government in 59 minutes to start the business and to expand the already established industry. In the 2019 budget, this provision was given by the Minister of Finance Smt Nirmala Sitharaman. The central government says that now any businessman will not face any kind of difficulty due to funds problems, the government is ready to offer all kinds of assistance. – PowerPoint PPT presentation

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Title: MSME Business Loans in 59 Minutes for Food Industry


1
MSME Business Loans in 59 Minutes for Food
Industry
2
Introduction
  • Are you thinking of creating MSME, or small and
    medium-sized enterprises? Do you want to expand
    your established food industry? If so, you can
    get a loan of up to 1 crore in just 59 minutes.
    The loan is granted by the government in 59
    minutes to start the business and to expand the
    already established industry. In the 2019 budget,
    this provision was given by the Minister of
    Finance Smt Nirmala Sitharaman.The central
    government says that now any businessman will not
    face any kind of difficulty due to funds
    problems, the government is ready to offer all
    kinds of assistance.

3
Introduction
4
Before going on further, know what MSME is?
  • Before going on further, know what MSME is?
    MSME's full name is Micro, Small Medium
    Enterprises. According to the official
    definition, it covers small and medium-sized
    enterprises and industries, which cost between 5
    lakh and 2.5 crore. This cost is inclusive of the
    cost of the machine and the salary paid to
    employees. The scheme proposed by the government
    loan in 59 minutes. To further expand the MSME
    sector by the central government, a scheme called
    "MSME loan in just 59 minutes" was launched in
    2018. Now this plan has extended to MSME loans up
    to a maximum of Rs 1 crore in just 59 minutes.
  • Procedure for obtaining MSME loanFirst, the
    small-scale industry owner must register himself
    and his industry by visiting the program's online
    portal www.psbloansin59minutes.com. Subsequently,
    a scanned copy of all necessary documents will
    need to be uploaded to the portal itself.The
    most important thing is that this portal will
    automatically verify all information provided by
    you. Thereafter, if you are eligible for the
    loan, the requested loan amount will be
    transferred to your account within 1 week of
    completing the formalities. No bank or official
    approval is required.

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6
Who is eligible for the 59-minute loan plan?
  • Who is eligible for the 59-minute loan plan? All
    those industries which meet the requirements of
    MSME including food industry other than that no
    guidelines have been mentioned Documents required
    for MSME loan Bank account information for your
    industry including the last six month
    transaction, You need to add an IT account and a
    GST account of your industry, you need to have
    all the documents related to the tax section,
    Scan your KYC form and submit it online, GSTIN
    and GST user ID and password, Copy of the
    e-filing tax return Banks Covered Under MSME Loan
    Scheme
  • The government has appointed the Small Industries
    Development Bank of India for this scheme. In
    addition, 5 public sector banks are involved. But
    there is also a possibility that the applicant
    can choose his bank. The following are the names
    of the banks SBI, Punjab National bank, Bank of
    Baroda, Indian Bank, Bank of Maharashtra,
    Allahabad bank, Vijay bank, Allahabad bank,
    Andhra Bank, Bank of India, IDBI bank, etc

7
CONCLUSION
  • It was started by the government to promote the
    service enterprise. If you also want to start or
    have started your own business and that business
    comes into the MSME loan service, then you too
    can apply for an MSME loan without delay and
    start expanding your business.

8
Contact us
  • CONTACT 450, Mastermind 1, Royal Palms, Aarey
    Colony, Goregaon(E), Mumbai, Maharashtra
    400065Ph91 8097027355, 91 9137256150, 91
    9222086563 or visit http//mbaprojectreports.com/
    email at profprakash_at_mbaprojectreports.com
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