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How to get MSME loan under government subsidy for business operating since last year but got gst registration just now?

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Shyamal Modi Shyamal Modi, Tax Advocate | Financial Advisor | Virtual CFO verified
Answered on May 15,2024

There are various government schemes for MSMEs under which government offers subsidy along with credit facility.

Most banks seek vintage of your business operations.

Vintage means any business registration that proves that a particular business was in operation.

As you said your business was in operation since last year, do you have any proof to establish the fact?

Valid proofs are:

  • MSME Registration Certificate
  • Trade License
  • GST Registration
  • PF Registration
  • Professional Tax Registration, etc.

With regards to Govt. subisdies, it varies from state to state and industry to industry.
For new businesses, public sector banks are more likely to provide finance then private banks.

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