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Magma SME Loans Products & Services

UNSECURED SME

Collateral Free Business Loans upto 2 Crores for SME Enterprises

PURPOSE

Loans for a wide range of Business purposes

FEATURES AND BENEFITS

  • Loans without any primary or collateral security requirements
  • Loan – Rs. 3 lakhs to 2 Crores
  • Loan Tenure – 12 to 48 months

 

WHO IS ELIGIBLE?

Proprietors, partners, private limited companies, closely held limited companies, listed companies, trusts and societies are all eligible for SME loans from Magma

Manufacturers:

Includes all major sectors including engineering, automobiles, chemicals, pharmaceuticals, dairy, packaging, food, agricultural products, fertilizers, jewellery etc.

Service providers:

Includes hospitality, logistics, clearing and forwarding, education, doctors, engineers, chartered accountants, consultants, private and government contractors, healthcare.

Traders:

All types of retailers, wholesalers, stockists, super-stockists and distributors

ELIGIBILITY CRITERIA

  • At least five years of operations for the business
  • Minimum turnover of Rs. 40 lacs in the manufacturing and trading industries, and Rs.15 lacs in the service industry.
  • Cash profit for the previous two years.
  • Clear banking and loan payment history.
  • Positive business net worth.
  • Demonstrated growth in turnover 

DOCUMENTATION

  • KYC documents
  • Company Financials
  • Banking and Loan payment history
  • Property Ownership proof
  • Loan Obligation statement
EXPRESS BUSINESS LOANS

Unsecured Business Loans upto Rs 10 Lakhs for Micro SME Enterprises

PURPOSE

Working capital requirement, business expansion, purchase of machinery etc.

FEATURES AND BENEFITS

  • Loans without any primary or collateral security requirements
  • Loan – Rs. 3 lakhs to 10 lakhs
  • Loan Tenure – 12 to 36 months

WHO IS ELIGIBLE?

Self-employed professionals and non-professionals engaged in Manufacturing or Trading.

Manufacturers:

All major sectors including engineering, automobiles, chemicals, pharmaceuticals, dairy, packaging, food, agricultural products, fertilizers, jewellery etc.

Traders:

All types of retailers, wholesalers, stockists, super-stockists and distributors

ELIGIBILITY CRITERIA

  • At least three years of operations for the business
  • Clear banking and loan payment history
  • Positive business net worth
  • Demonstrated growth in turnover
  • Good credit rating in CIBIL

DOCUMENTATION

  • KYC documents
  • Company Financials
  • 6 months Banking
  • Property Ownership proof
  • Loan Obligation statement
LOANS FOR SELF EMPLOYED DOCTORS

Zero Collateral Loans upto Rs. 30 Lakhs

FEATURES AND BENEFITS

  • Loans without any primary or collateral security requirements
  • Loan – Rs. 2 lakhs to 30 lakhs*
  • Loan Tenure – 12 to 60 months

* depends on sourcing location

WHO IS ELIGIBLE?

  • Self Employed Doctors who are practicing on their own
  • Clinics / Nursing Homes / Hospitals where 60% of the directors / partners are qualified doctors
  • Allopathic doctors with valid IMA accredited degree
  • Post Graduate Doctors (MD/DM/MS/MCH/MDS) with Minimum 5 years of post qualification experience
  • Graduate Doctors (MBBS/BDS) with Minimum 8 years of post qualification experience

Self-Employed Doctors:

  • Self-Employed Doctors who own a clinic/nursing home/hospital
  • With an income from Consultancy/salary income

Companies and Firms Companies:

  • Min 60% of directors to be qualified doctors and owning a clinic/nursing home/hospital

Firms:

  • Min 60% of partners to be qualified doctors and owning a clinic/nursing home/hospital

ELIGIBILITY

  • At least 4 years basis Certificate of Practice
  • Minimum age 25 years and maximum age 65 years at loan maturity
  • Clear banking and loan payment history.
  • Positive net worth in last 2 years
  • Good credit rating in CIBIL

DOCUMENTATION

  • KYC documents
  • Company Financials
  • 6 months Banking
  • Property Ownership proof
  • Qualification proof
  • Certificate of Practice
  • IMA registration certificate