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…
Small Business Loans, a collateral free loan offering, was launched in 2021 by Kisetsu Saison Finance (India) Pvt. Ltd. (that goes by the trade name Credit Saison India), an RBI registered Non-Banking Finance Company (NBFC), as a tailored financing solutions are designed to meet the unique needs of small enterprises.
Credit Saison India is the domestic arm of Saison International, one of Japan’s largest lenders.
How is it being implemented?
Under this Scheme, direct financial assistance in the form of loans is given to,
- Small businesses
What’s on offer?
I. Product
- Term Loan
- Ticket Size: up to ₹20 Lakhs
II. Purpose:
- Working capital requirements
III. Borrower Type:
- Individuals, Sole Proprietorships, Partnership Firms, Limited Liability Partnerships (LLPs)
- For more information around whether Private Limited Companies can also avail this loan, please contact Credit Saison India via means mentioned below
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 Credit Saison India via means mentioned below
V. Interest Rate
- Starts at 21%
- For more information around this, please contact Credit Saison India via means mentioned below
VI. Processing Fee
- Up to 3.5% of the loan amount + GST
VII. Margin Money Requirement
- Nil
- For more information around this, please contact Credit Saison India via means mentioned below
VIII. Tenure, Repayments & Pre-Closures
- Tenure: 12 to 36 months
- Repayments: EMIs
- Pre-payment & Foreclosure Charges: For more information around this along with Penal Charges & Miscellaneous Charges, please scroll here to get Charges section and expand
IX. Turnaround Time
- After loan application submission, a Credit Saison India team member will contact to discuss the application and eligibility requirements
- Once eligibility requirements are met, the loan will be sanctioned
- Funds are transferred within 48 hours of loan sanction
Interested? Read ahead to check your eligibility….
I. Are you between the age of 21 and 57 years?
II. Has your business been in operation for at least 2 years?
III. Is the annual turnover of your business at least ₹5 Lakhs?
IV. Is your CIBIL Score 650 and above?
If your answers to the questions above are an emphatic YES, you are all set to avail loan under Credit Saison India’s Small Business Loans!
So…how big is this scheme and what has been done so far?
I. Details on this Scheme don’t seem to be available in Public Domain
So, now, how should you go about it?
I. For submitting application,
OR
II. For information on indicative list of documentation required, scroll here to the Documents Required Section
III. For any queries, please contact Credit Saison India via:
- Phone (Toll Free): 1800 1038 961
OR
- WhatsApp: +91 9987098137
OR
- E-mail: support@creditsaison-in.com
OR
Go on then…and do spread the word!
Best,
Sources:
