MSME loans is to provide financial assistance to Micro, Small, and Medium Enterprises (MSMEs) in order to safeguard their stability and future growth. These loans can be utilized for various reasons, depending on the specific needs of the entity.
To provide credit facilities for the MSMEs, the Government of India has come up with many loan schemes, and even the banking sector and financial institutions grant loans to them. Some of the well recognised MSME loan schemes of 2023, popular due to the business getting disrupted due to COVID-19, are discussed below.