Six questions about the business. You get the instalment, the true cost of credit across the lenders that fit, and the government schemes you qualify for — plus the ones you are one answer short of.
Questions people ask
What is the true cost of credit?
Total interest plus arrangement and processing fees across the whole term. It is the only number worth comparing — a lower advertised rate with a 2% fee often costs more.
Does a lower instalment mean a cheaper loan?
No. Stretching the term lowers the monthly payment and raises the total interest. Compare the true cost, then check the instalment is affordable.
Is the scheme eligibility answer binding?
No, it is indicative. It checks turnover, years trading, MSME status and ownership against each published scheme; the scheme officer makes the decision.