The thought behind acquainting Udyam Registration was to improve the procedural organization that entrepreneurs needed to experience to enlist their business under Micro Small Medium Enterprise or MSME. If you wish to register Udyog Aadhar then visit MSME registration consultant in Jaipur.
Before the presentation of Udyam Registration, the procedural configuration for similar was very boisterous and a tedious regulatory cycle that used to require treatment of heaps of administrative work. However, with the presentation of Udyam Registration, things have changed and somewhat, have improved for medium, small, and micro-enterprises.
What is UDYOG AADHAR?
Udyog Aadhaar is a twelve-digit Unique Identification Number (UIM) given by the Ministry of Micro, Small, Medium Enterprises, Government of India, for MSMEs to advance small and medium enterprises by streamlining the strategy that entrepreneurs embrace to enlist their business under MSMEs (Micro, Small and Medium Enterprises). The Unique Identification Number is given along with an acknowledgment declaration.
If you own a medium, small or micro-enterprise and you haven’t enrolled your MSME yet, you should realize that on enlisting your MSME through Udyam Registration, you will be able to use various advantages.
Importance of UDYOG AADHAR
Before the Small Scale Industries Registration (SSI) was voluntary and thus most MSMEs went unnoticed. With the presentation of UA, organizations decide to be enlisted because of the numerous advantages of being enrolled.
Benefits and Uses of UDYOG AADHAR
👉 50% Fee Reduction for Filing Patents and Trademarks
👉 Financial Assistance from the Government of India for Participation in Foreign Business Exposure
👉 Exemption for Application for Government Tenders
👉 Credit Guarantee Scheme
👉 Exemption Under the Direct Tax Laws
👉 Subsidy to Increase the Company’s Revenue
👉 Credit Guarantee Scheme
👉 Excise Exemption
👉 Unsecured Loan with Lower Interest Rates
👉 Protection from Delayed Payments
👉 Octroi Benefits
👉 Discount on Electricity Bills
UDYOG AADHAR for getting Business Loans?
Only registered MSMEs can benefit from loans under indicated plans. Udyog Aadhar is utilized as character evidence of business for applying for such loans. Consequently, while filling the particular structure or application one can use the 12 digit Udyog Aadhaar number to apply for an MSME loan online.
How to get a Business loan on UDYOG AADHAR?
Before applying for an MSME loan, you must make sure that your business fulfills the loan eligibility. Following are the eligibility criteria that you need to follow for applying for a loan.
👉 Your age must be between 25 to 65 years.
👉 The business must be profitable for almost three consecutive years.
👉 The graph of business turnover should show an upward trend.
👉 The balance sheet should be already audited by a CA.
If your business meets the above requirements, then you can easily apply for the MSME loan. The procedure for applying is given below.
👉 Visit the lender’s website and fill the loan application with all the correct details.
👉 Attach the required details for further loan processing.
👉 The submitted documents will be verified by the loan lender and this verification may include a personal discussion with you.
👉 After the loan application is successfully verified, the loan will be sanctioned.