Benifits of being a MSME (Micro, small and Medium Enterprises):
1. Loan without collateral – Micro, small and Medium Enterprises (MSME) can avail loan facility at attractive/lower rate of interest and also Collateral Free loans from CGTFS (CREDIT GUARANTEE TRUST FUND SCHEME) created by;
A. Govt of India
B. SIDBI (Small Industries Development Bank of India)
C. Ministry of (Micro, small and Medium Enterprises) MSME
2. Subsidy for patent – up to 50% subsidy on patents registration can be aviled by MSME (Micro, small and Medium Enterprises) and this can be availed by sending an information to respective ministry (if you are a pharma company like Cipla wants to avail this facility then they shall address the same to Ministry of pharmaceuticals).
3. Subsidy for promotion – If you do any industrial promotion activity or business as suggested by Govt Of India, then you can avail subsidy for the same.
4. Interest rate exemption for OD facility – interest free Overdraft facility available up to 1%.
5. EB (Electricity bills) – MSME (Micro, small and Medium Enterprises) can avail concession on EB (Electricity bills) bill also.
6. Compounded interest for delayed payment – If any buyer of MSME (Micro, small and Medium Enterprises) has made a delay in payment for a period of 45 days then MSME can charge up to 3 times the interest notified by RBI as per section 16 of MSME act.
7. ISO certification – for ISO certification certain charges are applicable which is reimbursed in case of MSME.
8. Other benefits – There are some other benefits also available for MSME (Micro, small and Medium Enterprises) which are industry specific.
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Kindly elaborate further on “avail concession on EB (Electricity bills)” and let know how to avail same.