Has your business been affected since March 2020?
Are you struggling with maintaining fixed costs in your business?
Do you have enough funds to keep paying wages and salaries to workers?
Are you thinking of shutting down your business due to less or no sales?
These are some of the questions that are going on in the minds of every small and medium business owner. Since they’re not a top brand that gets sales all year round, they struggle whenever there is an economic collapse.
Since March 2020, the lockdown was initiated on a national scale. Because of this, the demand for products and services fell to an all-time low. Now, small and medium businesses (MSME) cannot survive for more than 6 months in such conditions.
Keeping this in mind, the Government of India came out with a scheme of giving out Rs 3 lakh crore worth loans to small and medium businesses all over India. These loans will be collateral-free and the government will give the guarantee.
If you still are not convinced, here are the Top 3 reasons why you must consider to get an MSME loan in India today.
1. Funds will boost your business back to normal:
With the MSME loan amount, you can restart your business easily and not worry about the fixed and variable expenses. You can sort out the necessary products that you need to restart your business, promote it through marketing, and try your best to boost back sales.
2. Guaranteed loans will help you run your business freely:
As the Government will guarantee on these loans, this means you are free to try your best in reviving your business. You can easily repay the loan amount as per the terms you agree with. In the unfortunate event that your business still cannot be revived, you can ask for the Government’s help in closing your loan without additional burdens.
3. The Best Time to restart business and earn profit:
As the lockdown is being lifted slowly and steadily, we have seen the economy go up slowly too. This is positive news and hence for every small and medium business owner, the right time to restart their business so they can gain lost ground and earn as much profit as possible.
Hence, here are the Top 3 reasons why we believe an MSME loan must be taken in India. If you wish to apply for an MSME loan at the lowest interest rates, visit Ruloans as we will help you borrow right with the best deals available in the market.