Are you planning to start your business and want to grow? There is an urge in all businesses to grow and you must put in more and more cash and for which you need capital to help your business to run smoothly. But the problem is where can you get the capital from? The best solution is to get a business loan. Business loan is the best way to cover the expenses of the organisations and keep them afloat.

These days, it is quite simple to get your business loan approved online. And if you are looking to take a business loan to start or improve your business, here is a checklist of the best small business loans for you


The government has launched a scheme ‘MSME Business Loan within 59 minutes’ for the first time in 2018, September.This loan encourages MSME development in the nation. Both new and existing companies can get financial assistance through this scheme. The whole process takes 8-10 days but the rejection or approval is concluded within 59 minutes after the application.

Document Required

  • Business Registration Proof
  • Bank statement for the last 9 months
  • KYC document of the applicant and the business entity

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Mudra Loan

Micro-Units Development And Refinance Agency commonly known as MUDRA LOAN provides loans to the small-business units. The public authority proposed low cost credit for the businesses that are new and are frequently left on their own to finance. The MUDRA loan is mostly given to micro and small businesses working in the manufacturing, trading and services area.

The structure of the loan:

  • Shishu Loan - Upto Rs 50,000
  • Kishor Loans - Upto Rs 5,00,000
  • Tarun Loans - Upto Rs 10,00,000

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National Small Industries Corporation Subsidy

The National Small Industries Corporation Subsidy for small ventures has Monetary advantages like Raw Material Assistance & Marketing Assistance. SMEs use the funds for marketing support to upgrade the market value and competitiveness of their services and products & Raw Material Assistance to and buying raw materials both imported & indigenious raw materials

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Credit Guarantee Fund Scheme For Micro And Small Enterprises

This scheme was first launched in the year 2000 and it was launched as a financial scheme for Micro & Small Enterprises. The new or existing enterprises who qualify are eligible for collateral-free credit. CGTSME provides working capital loan upto Rs 10,00,000 with no collateral. When the loan amount exceeds 10,00,000, the credit facility’s resources are considered as security.

Credit Link Capital Capital Subsidy Scheme For Technology Upgradation

This scheme allows small ventures by financing innovative upgradation which links to numerous processes such as producing, advertising, supply network etc. It helps the companies to remain price competitive in the national and international market by decreasing the expense of production of goods and services.

Final Words

If you are a small business owner or you are planning to start a business in this emerging market of India, you can avail loan without any hassle.

GimBooks offers quick and easy loans upto 15 lakhs to small business at low interest rate at 15-26%. The application is very easy and can be applied in a few minutes with very few documents.