Udyog Plus

Disclaimer….before you read ahead!

The information contained herein is of a general nature and for information purposes only, with the intent of raising awareness around various resources, schemes etc. available for women entrepreneurs in India. It is not intended to address the circumstances of any particular individual or entity. It does not purport to be all-inclusive or necessarily contain all the information that may be relevant for the reader, and may be subject to updation, revision or amendment. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to remain accurate in the future. The reader, therefore, is required to exercise their discretion; and not act on such information without appropriate professional advice after a thorough examination of the particular situation.

Furthermore, we are not a lender and are not authorized by the Reserve Bank of India to act as one. By disseminating the information contained herein, we are not soliciting any borrower or customers for the company or organization mentioned herein nor do we intend to syndicate any capital for the reader of this article.

About this scheme…

Udyog Plus is an unsecured & instant digital loan offering by Aditya Birla Capital Limited (ABCL), a listed non-deposit taking, systemically important Non-Banking Finance Company (NBFC-ND-SI) registered with Reserve Bank of India (RBI), custom designed to meet the needs of MSMEs.

This Scheme, launched in May 2023 as one stop B2B digital platform for MSMEs, also extends to offering customized solutions in the areas of Insurance, Investment, Wealth, Networking Platforms & Knowledge forums. For more information around this, please contact ABCL via means mentioned below.

How is it being implemented?

Under this Scheme, direct loans are provided to,

MSMEs

What’s on offer?

I. Product

Term Loan
Ticket Size: up to ₹10 Lakhs

II. Purpose:

Acquisition of or investment in fixed assets
Working capital requirements
Refinance or consolidate existing debts

III. Borrower Type:

Sole Proprietorship, Partnership Firm, Limited Liability Partnership (LLP), Private Limited Company, Public Limited Company

IV. Security or Collateral or Guarantee or Insurance

Primary Security: There may be primary charge on assets financed under this Scheme
Collateral Security: Nil
Guarantee: Nil
Insurance: For more information around this, please contact ABCL via means mentioned below

V. Interest Rate

May range between 15% – 21% per annum
For more information around this, please contact ABCL via means mentioned below

VI. Processing Fee

Up to 3% + GST

VII. Margin Money Requirement

For more information around this, please contact ABCL via means mentioned below

VIII. Tenure, Repayments & Pre-Closures

Tenure: Flexible tenure that aligns with borrower’s business cash flow to avoid financial strain. May range from 3 months to 12 years. For more information around this, please contact ABCL via means mentioned below

Repayments: EMIs. You may refer to the EMI Calculator here
Pre-payment & Foreclosure Charges: For more information around this, please contact ABCL via means mentioned below

IX. Turnaround Time

This Scheme is characterised by the following features:
- 100% digital process from case login to loan amount disbursement
- Loan up to ₹2 Lakhs without any documentation hassles
- Loan above ₹2 Lakhs & up to ₹10 Lakhs with minimal documentation requirements
Typically, after submitting all the required documents which are complete in all aspects, the approval takes few hours & loan disbursal happens in 24 to 48 hours