People who provide advice to get Micro, Small, and Medium Enterprises (MSME) loans are MSME Loan consultants or advisors.

Their primary responsibilities are collecting information, analyzing the financial status, reviewing the loan agreements, and verifying applicants’ documentation. They work as an intermediary between the bank and the applicants.

What is an MSME loan?

The full-form of MSME is Micro, Small, and Medium Enterprises. It is also called SME for small and medium enterprises, but generally, both are the same things. Financial institutions offer these loans to individuals, SMEs, MSMEs, Entrepreneurs, and Startups on a short-term basis for their business expansion purposes.

Entrepreneurs, Business Owners, and enterprises primarily use MSME loans to full-fil their working capital requirements. MSME loan plays a vital role in India’s economic growth and contributes one-third of overall GDP.

MSME loans generate employment of nearly 110 million and also play a crucial role in the country’s social-economic development, as many enterprises operate in rural India.

Typically MSME loans are unsecured loans, so banks and NBFCs offer SME and MSME loans without asking for any collateral or security from the borrowers. But, you may still need some minimum eligibility requirements to reduce the risk for lenders.

MSME Loan Agent

MSME Loan Agent is a person or company that arranges MSME Loan for their clients from a credit institution. Their client may be an individual, a joint applicant, or a company. They never provide MSME loans from themselves; instead, they arrange from Banks and NBFCs. By providing their services, they charge a small percentage from you as their commission.

MSME Loan Consultant in Kolkata

Finding an MSME loan agent in Kolkata is pretty simple nowadays. Many MSME loan agents are successfully working in this field. A lot of people who work as individual loan agents also arrange MSME loans for their clients.

The higher unemployment rate in West Bengal can be a reason to gain popularity in the loan agency business in Kolkata. A simple Google search will show you lots of results on MSME Loan Consultant in Kolkata.

All MSME Loan Consultants are not reliable, so be careful of that. You must check the background of the consultants.

You may also check their ratings and reviews on Google to ensure whether they have any previous complaints against them or not? It is recommended to do some research to avoid any forgery before selecting an MSME loan consultant in Kolkata.

Read More:

• Loan Consultant
• Loan Agent
• Loan DSA of Bank of Baroda