How MSME Registration helps my business?

• Low-Interest rate-All banks and other financial institutions recognize MSMEs and have created special schemes for them. MSME's get the privilege of lower interest rate on business loans.
• Relaxation in Trademark Government Fees -Government has given relaxation in government fees of the trademark to MSME registered entities. The fee shall be ₹4500/- for small enterprises despite trademark fee for enterprises other than MSME's is ₹9000/-
• Credit Support Schemes -Government of India runs several schemes to provide financial assistance to MSME for their business.
• Tender Eligibility -There is a certain quota reserved for MSME Registered Entity in government tender allotment.
• No delayed payment-If an MSME entity has made any sale then the buyer has to pay to the MSME's entity within the 45 days from the date of delivery of product or services.
• Easy loan in 59 minutes-Recently, the government has announced that all MSMEs having MSME Registration and GST registration will be granted easy up to ₹ 5 crores within 59 minutes . This scheme has been discussed below in detail.

MSME Loan within 59 minutes!

With the view of providing easy access to credit and financial assistance to MSMEs, the government has initiated the MSME Support and Outreach Programme (SOP) . Under this scheme, the Indian Government will provide in-principal approval to all MSMEs having MSME registration and GST Registration, for easy loans up to ₹ 5 crores within 59 minutes

Those having a GST registration will be granted a 2% subsidy in the interest rates. This will surely boost tax compliance among the MSMEs and will enhance their ease of doing business.

Further, those exporters having a unique Import Export Code along with GST registration will be given an additional rebate in the interest rate from 3% to 5% on loans availed in pre-shipment and post-shipment period.