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SME finance is providing loans to Small and Medium Enterprises. Here is a complete guide about SME loans. Who are eligible? What documents should be produced? What are the eligibility criteria? Who are eligible to get SME loans? Different countries have fixed the SME threshold in different ways. Till 2020, India defined SMEs as follows: A small enterprise is an enterprise whose investment is between Rs 25 lakhs and Rs 5 crores. A medium-sized enterprise is that enterprise whose investment is between Rs 5 crores and Rs 10 crores. After COVID, the definition was changed in order to increase the benefits availed by the SMEs. It is as follows: ·        Small Enterprise: Investment up to Rs 10 crore and turnover up to Rs 50 crore ·        Medium enterprise: Investment up to Rs 50 crore and turnover up to Rs 250 crore. Is it beneficial to take SME loans? The Government of India is on the path of bringing self-reliance to the country. In order to achieve this, it is focusing

  There are plenty of ideas to become a successful entrepreneur. However, ideas alone will never turn dreams into reality. The “Fund for Business” is the most essential ingredient. Every businessman is aware of the fact that “It needs money to earn money”! Not every person is born rich. Even some of the young rich men are of the pride to stand on their own. Therefore, the next option is to borrow money. The young entrepreneurs being new in the field find it difficult to choose the right loan. Here are some tips to choose the right business loans for small businesses. Loan amount Be specific about the loan amount. Fix a clear number. Have a fair idea of how much liquid fund is needed. Also, it is equally important to be realistic and flexible. The loan providers check on the growth and potential of the business. Also, it is essential to choose the right lender, If the amount lent is too small, it may not suffice the needs of the business. SME loans Go for SME loans. If the busin