psbloansin59minutes blogs

 India’s MSME sector is the backbone of the national economy, contributing significantly to employment generation, GDP growth, exports, and grassroots innovation. Within this ecosystem, women entrepreneurs are emerging as a powerful and transformative force. From home-based manufacturing units, kirana stores, beauty and wellness services, tailoring businesses, food processing units, and handicrafts to technology startups, logistics providers, professional services, and export-oriented enterprises—women-led MSMEs are reshaping India’s economic narrative. Despite this progress, women entrepreneurs still face disproportionate challenges in accessing formal finance. Limited asset ownership, interrupted career histories, informal business structures, lack of collateral, time constraints, and lower exposure to banking systems often restrict access to affordable institutional credit. As a result, many women-owned businesses rely on personal savings, family funding, or informal lenders—sl...

 Many small business owners in India believe that GST registration is mandatory to access formal credit. While GST is essential for businesses that cross prescribed turnover limits, it is not compulsory for all MSMEs —and importantly, you can still apply for a PSB59 loan without GST registration . This makes formal lending more inclusive for micro and small enterprises operating below the GST threshold. Understanding GST Registration Requirements GST registration becomes mandatory when a business crosses the turnover limit—₹40 lakh for goods and ₹20 lakh for services. In some special category states, the limits are lower at ₹20 lakh for goods and ₹10 lakh for services. It is also compulsory for inter-state sellers, e-commerce sellers, agents, and businesses registered under earlier tax regimes. Once registered, a business receives a 15-digit GSTIN, enabling it to collect GST and claim Input Tax Credit (ITC). However, businesses dealing only in exempt goods, agriculturists, or en...

  The Government of India–backed digital lending platform PSBLoansIn59Minutes was created to simplify and speed up loan access for Indian Micro, Small, and Medium Enterprises (MSMEs). By leveraging advanced technology, the platform enables borrowers to receive in-principle loan approvals from participating public sector banks within just 59 minutes. A common question among borrowers is whether they can apply for multiple loans at the same time using PSBLoansIn59Minutes. The short answer is yes—but with important conditions and limitations. Is There a Legal Limit on the Number of Loans You Can Have? There is no legal restriction on the number of loans an individual or business can hold. If your income, credit score, and debt-to-income (DTI) ratio meet lender eligibility criteria, you may hold multiple loans simultaneously—such as personal loans, home loans, or business loans. However, most banks prefer to limit borrowers to two or three active loans to manage repayment risk. Applyin...

 Boutiques and tailoring units play a vital role in India’s local fashion and service economy. Yet many of these businesses operate under constant financial pressure—managing fabric costs, tailoring staff, workshop rent, and fluctuating seasonal demand. While owners often recognise the need for funding, they delay applying for loans due to fear of rejection or complex procedures. An MSME loan for boutique and tailoring businesses exists precisely to solve this challenge. Designed for micro and small enterprises, these loans provide formal, affordable credit that supports growth without dependency on informal borrowing. Who Can Apply for MSME Loans? Boutiques and tailoring shops qualify as micro or small enterprises under MSME norms. Basic registration under Udyam and local shop establishment laws strengthens eligibility. Lenders focus less on perfect books and more on practical indicators such as customer flow, bank transactions, and repayment capacity. Businesses with consi...

 For India’s MSMEs, access to institutional finance often determines whether a business can scale, stabilise cash flows, or invest in growth. Despite multiple lending initiatives, many MSMEs still struggle with complex documentation and prolonged approval timelines. Udyam Registration , introduced by the Government of India, directly addresses these challenges by creating a standardised and trusted MSME identity. Udyam Registration is a fully digital, self-declaratory system that simplifies how lenders verify MSME borrowers—making loan applications faster, clearer, and more reliable. A Single, Trusted Identity for MSMEs Earlier, lenders had to rely on fragmented documents to confirm business legitimacy. Udyam Registration replaces this with a single government-backed digital certificate that validates enterprise size, activity type, and eligibility. Because banks and NBFCs recognise Udyam as an official MSME identifier, it reduces ambiguity during loan assessments. Seamless KY...

As India’s MSME sector continues to expand and digitise , access to timely and affordable finance remains one of the most important enablers of growth. In 2026, MSME business loans have become more accessible than ever, driven by government support, fintech innovation, and simplified digital processes. However, eligibility criteria still play a decisive role in determining loan approval, interest rates, and loan amounts. For business owners, understanding these criteria is essential to securing the right financing. An MSME business loan is a credit facility offered by banks, NBFCs, and government-backed institutions to support business needs such as expansion, working capital, machinery purchase, or operational stability. Depending on the lender and scheme, these loans can be secured or unsecured. Loan amounts generally range from ₹50,000 to ₹5 crore, with several schemes offering collateral-free funding under credit guarantee programs like CGTMSE. Types of MSME Business Loans Avai...