As we discuss how to get 1 crore loan in 59 minutes, Small business under MSME firm can get a loan in 59 minutes. First refer to this article, here is quick questions and answers
What is Minimum and maximum loan amount will be ?
As per Scheme MSME Loan amount will be approve bettwen 1 Lac to 1 Crore.
How to Submit loan process and apply ?
Apply for a loan in easy 10 Steps “Loans in 59 minutes.“
Secure register, Provide require documents and get loan approval.
Is there any fee need to pay for apply loan ?
No, There is no fee for the loan application.
What primary documents/proof required for the apply loan in psbloansin59minutes.com?
Running a business can apply for the loan as per Loan process and requires below :
- Income Tax Return File in XML format.
- GST Details: Goods and Services tax Identification number.
- Require last six months business official bank account statements in PDF version.
- Proof of business Owners/directors and proprietor.
- Other documents required for normal loan processing.
Read this also – Mudra Loan
Is loan related data is secure with psbloansin59minutes.com platform?
As per the information from the platform, data is on utmost priority. Platform work with real-time data process. Data save with private cloud servers and not store any personal details.
What is loan approval eligibility criteria for applier?
For running businesses: Applier must have Goods and Services Tax documents, Income Tax Return details, And business bank account statement.
Eligibility can be accomplished by following :
- Income/profit ratio
- Capacity for repayments
- Current business Credit
- Other factors by applier
Can my data be considered as misuse?
As per platform promise, they never store/demand personal details. Loan data handle to the bank in real time processing.
I do not have GST/ITR or Bank Statement?
Without this priority, documents can’t process the loan at psbloansin59minutes.
I do not have documents in Digital format?
Kindly collect and prepare documents in Digital format (XML and PDF) As per requirement.
Do I have top pay any amount for receive approval?
Yes, there is in-principle approval amount require an Rs.1000 + Taxes.
Is the loan guaranteed once I pay fees and in-principle approval?
There is in-principle approval based on loan documents and business model. After getting approval, there is still require confirmation from lenders (desire bank) final decision.
How to track loan application status?
After receiving in-principle approval have to check loan application status in platform website via login and password.
How much time do take for receive funds decision?
By the platform (loansin59minutes.com), applier can get in-principle approval can be done in 59 minutes if all documents are correct and as per requirement process, From bank can take upto 7-8 working days.
I disconnect in between process what to do now?
There is no problem, log in again, and process for documents upload/fill again.
Why did I not get in-principle approval?
The application can be rejected because of below reasons :
- Your filled details/information does not meet the process or criteria.
- Your Business does not meet the model for partners banking loan process.
Did not get OTP code. Now, what to do?
OTP can be received on registered mobile/cell and as well email address If not accepted can be discussed on toll-free number 1800 103 7491.
What is mean by Collateral?
Collateral is an asset which can be used repayment the loan amount, regarding security provided by the borrower to the lender.
Compulsory to provide Collateral to get a loan?
Under the scheme CGTMSE business loan can be processed they can also apply for the loan without collateral security.
Definition of Turnaround time?
Turnaround Time (TAT) is the processing time taken by the lender for the application.
What is generally Turnaround Time by psbloansin59minutes?
Portal do the real-time process for every loan application, As the details and business model meet the criteria and handle to lender banks they process.
What is first registration details require for psbloansin59minutes?
Any business can apply for registration with primary details like Email address and a mobile number.
What is the Registration process?
- On the web, provide name, email id, Mobile number and hit the ‘Get OTP’ button.
- Fill the OTP (One Time Password) received on the mobile.
- Tick the condition agreements,
- Create desire password you want.
How to login ?
By using the registered mobile number and OTP can be login.
What if i forgot my set password ?
No worry Can be set a new password and using OTP.
If the answer to any question negative? Will process loan application?
Can not process if any question’s answer comes in “NO”
What if error found “API access Denied” during the GST processing?
If this happens, there is the problem from GST portal and must have to link and give access.
Must have to upload pas 3 years Income Tax Returns?
Loan Receiver can also process for 1-year Income Tax Return.
Do business have must be required to fill the latest financial year ITR?
Yes, Must have to fill last Financial year Income Tax Returns.