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If you are an entrepreneur in Hyderabad searching for a business loan in Hyderabad you can first try applying for business loan programmes sanctioned by the Telangana government. The state government has launched several finance programmes to help small businesses. These loans can be applied for by entrepreneurs from all districts.

Business loans in Hyderabad for MSME entrepreneurs

Listed below are a few business loans you can apply for including government loan schemes and loans from government banks and local banks of Telangana:

Bank-linked subsidy scheme – Telangana State Minorities Finance Corporation

Telangana State Minorities Finance Corporation (TSMFC) is an establishment set up by the Government of Telangana to provide financial assistance to the weaker section of Muslims, Sikhs, Buddhists, Parsis and Jains.

The institution provides subsidised loans with bank linkage for minorities for self-employment and income generating ventures under Category –I & II. “The subsidy would be linked to the credit component of banks,” explains the TSMFC website.

Funding for categories
Category 1 Unit Cost: Up to ₹1 Lakh

Subsidy: 80%, subject to a maximum of ₹80000

Balance: 20% (can be availed as bank loan or candidate share)

Category 2 Unit Cost: From ₹1 Lakh to ₹2 Lakh

Subsidy: 70% subject to maximum of ₹1.4 Lakh

Balance: 30% (can availed as bank loan or candidate share)

Eligibility criteria and documents required

Have a look at the documents required and the eligibility conditions for the Bank-linked subsidy scheme

  • Beneficiary should belong to a minority community
  • Age of the applicant should be between 21 to 55 years
  • Annual family income should be ₹15 Lakh in rural areas and ₹2 Lakh in urban areas
  • Aadhaar Card
  • White ration card/Food security card

How to apply?

Find the nearest TSMFC establishment from the ‘Contact Us’ page of the official website and ask for an application form to the scheme.

TGB Business Loan (TBL)

TGB Business Loan is sanctioned by the Telangana Grameen Bank, a financial establishment under the Government of Telangana. The minimum loan amount is ₹50000. There is no maximum limit. You can apply for a cash credit loan, drop line overdraft or a term loan under this loan policy. The interest rate for TBL is 12.5%.

Eligibility

  • Wholesale and retail traders
  • Manufacturing and processing units
  • Services companies
  • Professionals
  • Self-employed individuals

How to apply?

Business Loan

Contact your nearest Telangana Grameen Bank. You can find e-Mail IDs and contact numbers of branches by clicking here.

Telangana State Cooperative Apex Bank Limited – SME Loan

The Telangana State Cooperative Apex Bank Limited is a scheduled bank established in partnership with the Telangana state government. They offer SME loans for all MSME enterprises to fund their working capital requirements and term loans for startups. Entrepreneurs looking for business loans in Hyderabad can get a working capital loan of up to ₹10 Lakh and a term loan of up to ₹3 Lakh.

Eligibility

  • All business officially classified as MSMEs under Udyam registration
  • All startups that have been in existence for not more than 3 years

How to apply?

Follow these steps to apply for the loan:

  1. Go to the official website of the Telangana State Cooperative Apex Bank Limited
  2. Click on ‘Service’ indicated on the banner of the homepage
  3. Select ‘Loan schemes’ from the drop-down menu
  4. Find ‘SME loans’ option from the drop-down menu that appears and click on it
  5. Scroll down the page that appears fill the form given at the end of the page
  6. Click on ‘Send’

This is an enquiry you are sending to the bank which will be responded to within two working days. Alternatively, you can contact the nearest Telangana State Cooperative Apex Bank Limited by getting contact information from the contact section of the official website.

Priyanka Babu

Priyanka is a seasoned content marketing professional with 6 years of experience crafting various forms of business and technology sector content. Her insightful writing tackles critical issues faced by small-scale manufacturing businesses. Swati’s clear and concise communication empowers businesses to make informed decisions and thrive in today’s dynamic business environment.