These Documents are required for GST Registration
Frequently Asked Question
Any type of business can apply for MSME registration or MSME Certificate.
SME is termed as Small and Medium Enterprises, whereas MSME has an addition of Micro along with SME to become Micro, Small and Medium Enterprise.
Udyam Registration is MSME registration to start business under Ministry of Micro, Small and Medium Enterprises (MoMSME) approved by Government of India. Whereas MSME / Udyog Aadhaar is a 12-digit Unique Identification Number (UIN) provided by the MoMSME for Small and Medium Enterprises (SMEs).
For MSME registration, Aadhaar card is mandatory.
Yes MSME borrowers get collateral free loans from financial institutions
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Yes, they can get collateral free loans if they opt for unsecured business loans and if they maintain good CIBIL score with decent financial and loan repayment history. Rest if depends on the eligibility criteria to be cleared by applicant defined by the respective bank.
There are several reasons of rejection of MSME application like low CIBIL score, unpaid debts, loan defaults, low cash flow, lack of business plan, incomplete documentation, false information, etc.