Micro,Small and Medium Enterprises (MSME) are run by small entrepreneurs who provide various services within the community. An MSME loan is facility extended to micro enterprises to start micro business or improve the business.
Altum Credo provides this facility where in the loan will be extended for Business or Working Capital needs or any other non-speculative specific business need or for expansion like purchase of fixed assets, Machinery, Equipments, Procurement of stocks and other business improvement activities etc. These loans will be made available only against Property Collateral.
The minimum loan amount under MSME is capped at Rs. 2 Lakhs. The maximum loan amount for the same goes up to Rs. 5 Lakhs.
The minimum tenure is 2 years and the maximum tenure offered under MSME is 5 years.