Frequently Asked Questions
Find answers to common questions about our loan products and processes
What is LoanVittus?
LoanVittus is a loan readiness and financial structuring platform built by Vittus Fintech Private Limited. We help individuals and MSMEs prepare bank-ready loan applications by automating Detailed Project Reports (DPR), Credit Monitoring Arrangements (CMA), and subsidy applications. Whether you need a personal loan, business loan, or subsidy-linked project finance. LoanVittus prepares your case so you apply with confidence.
How is LoanVittus different from other loan apps?
Most loan apps only connect you to lenders. LoanVittus helps you get approved. We automatically generate bank-ready DPR and CMA reports, identify eligibility gaps before you apply, help organise your financials to match what banks evaluate, and support subsidy-linked applications under PMEGP, CGTMSE, MUDRA, and other government schemes. CA-grade expertise meets technology.
Is LoanVittus safe to use?
Yes. We use encrypted data transmission, access-controlled storage, and confidential processing of all financial documents. Your data is used solely for generating your loan-related reports and is never shared with any third party without your explicit consent. We do not store banking passwords or credentials.
Does LoanVittus provide loans directly?
No. Vittus Fintech is not a bank, NBFC, or direct lender. We prepare your loan case DPR, CMA, financial documentation and help you connect with appropriate banks and financial institutions. The final lending decision always rests with the bank.
How do I download the LoanVittus app?
Download from Google Play Store (Android) or Apple App Store (iOS). Search for “LoanVittus” and look for the official app by Vittus Fintech Private Limited. You can also access all features through our website at loanvittus.com.
What features does LoanVittus offer?
Automated DPR and CMA generation, loan eligibility assessment, subsidy application support (PMEGP, CGTMSE, MUDRA, state schemes), AI powered business idea generation, personal and business loan facilitation, expert CA consultation, and end-to-end application support from documentpreparation to bank submission.
What solutions does LoanVittus offer?
Four areas: (1) Loan Readiness- DPR, CMA, and financial structuring so your application is bank-ready; (2) Loan Facilitation- helping you explore the right loan product and lender; (3) Subsidy Support- scheme-compliant documentation for government subsidies; (4) Business Planning- AI generated business ideas and feasibility analysis for aspiring entrepreneurs.
Who can use LoanVittus?
Salaried individuals looking for personal loans, MSME owners seeking business or project loans, aspiring entrepreneurs who need a bankable business plan and DPR, and anyone looking to apply for government subsidies under PMEGP, MUDRA, Stand-Up India, or similar schemes.
Is LoanVittus free to use?
Basic features like eligibility checks and loan readiness assessments are free. Advanced services DPR/CMA generation, financial structuring, subsidy application support, and expert consultation are paid services. All charges are disclosed upfront. No hidden fees.
How do I contact LoanVittus?
Through the in-app support chat, email at support@loanvittus.com, the contact form at loanvittus.com/contact, or the customer support helpline listed on the app. Our team typically responds within 24 working hours.
How do I get started?
Visit loanvittus.com or download the app. Enter your basic details and our system will assess your profile, identify the right service DPR, eligibility check, subsidy application, or consultation and guide you through the process. Basic assessment is free.
Am I eligible for a personal loan?
Generally yes, if you are a salaried individual with regular income or a self employed professional with documented income. Common requirements: age 21-60 years, minimum monthly income (typically ₹15,000-25,000 for salaried), credit score of 700+ for competitive rates, and 6-12 months in current job (or 2+ years in business for self-employed). Criteria vary by lender.
How much personal loan can I get?
Typically ₹10,000 to ₹10 Lakh, depending on your income, credit score, existing EMIs, and the lender’s policy. Some lenders offer higher amounts for premium profiles. LoanVittus assesses your profile and provides an estimated eligibility range.
What documents do I need?
PAN and Aadhaar, last 3-6 months salary slips (salaried), 6-12 months bank statements, Form 16 or ITR for last 1-2 years, and employment proof. Self-employed applicants may also need business registration and financials. Requirements vary by lender.
Is collateral required?
No. Personal loans are unsecured no collateral, property, or guarantor is typically required. Approval is based on your income, credit score, and repayment capacity.
What interest rates apply?
Market rates generally range from 10% to 24% p.a., depending on yourcredit profile, income, loan amount, and lender. Higher credit score and stable income get you a lower rate. Rates may vary based on borrower profile, lender policy, and economic conditions. LoanVittus does not set
rates.
How fast can I get a personal loan?
LoanVittus offers instant personal loan disbursal for eligible, pre-approved applicants funds can hit your account within minutes of final approval. In some cases, depending on document verification or additional lender checks, disbursal may take 1-2 working days. Our fully digital process ensures there are no avoidable delays at any stage.
What is the processing fee?
Generally 1% to 3% of the loan amount, varying by lender. Some lenders waive fees during promotional periods. Always check the total cost of the loan including fees before accepting an offer.
Can I prepay or foreclose?
Yes. For floating-rate personal loans, RBI guidelines prohibit foreclosure charges for individual borrowers. For fixed-rate loans, a fee of 2-5% of outstanding principal may apply. Check your loan agreement for specific
terms.
What happens if I miss an EMI?
Missing an EMI can lead to penal interest (typically 1-2% per month on overdue amount), negative impact on your credit score (reported to CIBIL),and if payments stay overdue beyond 90 days, NPA classification that severely impacts future borrowing. Set up auto-debit or maintain a repayment buffer.
What credit score do I need?
Most lenders prefer 700+ for competitive rates. Some accept 650-700 at higher rates. Below 650 significantly reduces approval chances for personal loans. LoanVittus helps you understand where you stand and what you can improve.
Can LoanVittus help with low credit score?
We can assess your profile and suggest steps to improve eligibility clearing outstanding dues, reducing existing EMI burden, or waiting for negative remarks to age out. We may also help explore lenders with more flexible requirements. However, we cannot guarantee approval for low-score profiles.
What MSME loan products does LoanVittus support?
We support: (a) MSME Term Loans (for equipment, machinery, infrastructure), (b) Working Capital Loans (Cash Credit/Overdraft), (c) Project Loans (for new ventures with DPR), (d) CGTMSE-backed collateral-free loans up to ₹5 Crore, (e) MUDRA Loans (Shishu up to ₹50,000, Kishore up to ₹5 Lakh, Tarun up to ₹10 Lakh), and (f) Subsidy-linked project loans under PMEGP and state schemes.
Am I eligible for an MSME loan through LoanVittus?
Generally yes, if your business is classified as Micro, Small, or Medium Enterprise under the MSMED Act (Udyam registered or eligible), you have valid business registration, a viable plan, and satisfactory credit history. Specific criteria vary by lender and product. LoanVittus assesses your eligibility and helps explore the best-fit loan product.
How much loan can I get?
Depends on your business turnover, project cost, existing liabilities, credit score, and DPR/CMA strength. There is no universal fixed limit. Under CGTMSE, collateral-free loans up to ₹5 Crore may be available. Under MUDRA, maximum is ₹10 Lakh. LoanVittus analyses your profile and provides an estimated eligibility range.
Do I need collateral?
Not always. CGTMSE-backed loans (up to ₹5 Crore, subject to eligibility and lender discretion), MUDRA loans (collateral-free by design), and some NBFC products may not require collateral. Larger amounts or certain bank products may need property or guarantee. LoanVittus helps explore collateral-free options for your profile.
What is a DPR and why do i need it??
A Detailed Project Report (DPR) is a comprehensive document covering your project cost, means of finance, revenue projections, profitability, and loan repayment capacity. Banks use it to evaluate whether your project is viable and whether you can repay the loan. For term loans and project loans, most banks will not process your application without a properly prepared DPR. LoanVittus generates bank-ready DPRs automatically based on your inputs.
What is CMA and when is it required?
CMA (Credit Monitoring Arrangement) is a financial data format banks use to assess working capital needs. It includes your current and projected Balance Sheet, P&L, Fund Flow, and working capital assessment. Required for Cash Credit, Overdraft, and working capital proposals. LoanVittus generates CMA in standard banking format.
What documents are required?
PAN, Aadhaar, Udyam Registration, business registration (GST certificate, partnership deed, MOA/AOA as applicable), last 2-3 years ITR, audited financials, 12 months bank statements, project quotations (for new projects), and DPR/CMA (which LoanVittus generates). Specific banks may request additional documents during appraisal.
How long does approval take?
MUDRA loans: 7-15 working days. MSME term loans (up to ₹50 Lakh): 10-25 days. Project loans with DPR: 15-45 days. Working capital (CC/OD): 15-30 days. Timelines depend on bank appraisal, documentation completeness, and loan amount. A complete application from day one reduces delays significantly.
Why do MSME loans get rejected?
Common reasons: incomplete or inconsistent financials (ITR/bank
statement/GST mismatch), weak or missing DPR/CMA, low credit score, high existing debt, working capital gap not properly justified, wrong loan product or amount, or insufficient promoter contribution. LoanVittus helps identify and address each of these before you apply.
Can LoanVittus help after rejection?
Getting rejected doesn’t mean your business is weak often the application was poorly structured. We analyse likely reasons, help reorganise your financials, prepare a fresh DPR/CMA addressing gaps, and assist in reapplying to the same or a more suitable lender.
What interest rates can I expect?
Indicative ranges: MUDRA- 8-12% p.a.; MSME term loans- 9-16% p.a.; Working capital (CC/OD)- 9-15% p.a. Rates may vary based on borrower profile, lender policy, and economic conditions. LoanVittus does not set rates these are determined by the lending institution.
What is the process with LoanVittus?
Step 1: Sign up and enter your details. Step 2: System analyses your profile and project viability. Step 3: DPR/CMA generated in bank-ready format. Step 4: Suitable loan products and lenders explored. Step 5: Application prepared with complete documentation. Step 6: Submission support and follow-up with the bank.
What is a working capital loan?
A loan to fund your day-to-day business expenses- buying raw material, paying salaries, managing inventory, and keeping operations running smoothly. Unlike a term loan (for a specific asset), working capital keeps your business cash flow healthy through its regular operating cycle.
What types are available?
Three main types: (a) Cash Credit (CC)- draw and repay as needed, interest only on amount used; (b) Overdraft (OD)- similar, linked to your current account; (c) Short-term working capital loan- lump sum for a fixed period. LoanVittus helps identify which type suits your business cycle and cash flow pattern.
How do banks decide my limit?
Banks look at your sales, inventory, how fast customers pay you, and how fast you pay suppliers. They use methods like MPBF (Maximum Permissible Bank Finance)- typically 25% of projected turnover for loans up to ₹5 Crore, or detailed assessment for larger facilities. This is calculated through your CMA data. LoanVittus generates CMA in standard banking format.
Do I need collateral for an MSME loan?
Not always. Several options exist for collateral-free lending: CGTMSE-backed loans (up to ₹5 Crore without collateral, subject to eligibility), MUDRA loans (collateral-free by design), and select NBFC and private bank products based on cash flow and credit profile. For larger loan amounts or certain bank products, collateral or third-party guarantee may be required. LoanVittus identifies the most suitable options for your situation.
What is CMA and why do I need it?
CMA is a standard financial format that banks use to assess your working capital need. It shows your current and projected financials in the way banks want to see them including Balance Sheet, P&L, Fund Flow, and MPBF calculation. Required for almost all CC/OD proposals and annual renewals. Without a well-prepared CMA, your limit will be sub-optimal.
Why is my limit lower than expected?
Banks deduct your expected contribution (usually 25%), exclude non-business assets, and calculate based on your actual business cycle not what you think you need. If your receivables are fast or inventory is lean, the assessed need is lower. High creditor days also reduce the gap. LoanVittus helps optimise your CMA to get the maximum justifiable limit.
What documents do I need?
CMA data (LoanVittus generates this), last 2-3 years financials, 12 months bank statements, GST returns, latest stock statement, debtor creditor ageing details, PAN, Aadhaar, and business registration. For CC facilities, banks may also require a stock hypothecation agreement.
Why do Working Capital applications get rejected?
Common reasons: mismatch between your CMA projections and actual financials, slow collections from customers (high debtor days), weak current ratio (banks prefer 1.33+), frequent cheque bounces, declining sales trends, or adverse stock audit findings. Banks also check account conduct over-utilisation of existing limits is a red flag. LoanVittus addresses these before you apply.
What is a stock audit?
If you have a CC account, the bank sends auditors (quarterly/half-yearly) to physically check your inventory. Significant discrepancies between what you reported and what’s actually there can reduce your drawing power, trigger additional margin demands, or in extreme cases, lead to facility recall. Accurate stock records are critical.
Can I get both Working Capital and a term loan?
Yes, this is very common. Your DPR covers the term loan and CMA covers working capital. Banks assess both as a combined proposal. LoanVittus generates combined DPR+CMA, ensuring repayment analysis accounts for both facilities together.
What interest rates apply?
Indicative ranges: CC: 8.5%-15% p.a.; OD: 9-14% p.a.; Short-term WC: 9%-16% p.a. Interest on CC/OD is charged only on the amount you actually use, not the full limit. Rates may vary based on borrower profile, lender policy, and economic conditions. LoanVittus does not determine rates.
How does LoanVittus help?
We generate bank-standard CMA data, analyse your business cycle to justify the right limit, help you explore suitable lender options., prepare renewal documentation, and generate combined DPR+CMA for multi-facility proposals. We assist in organising financial information we do not make lending decisions.
What is a machinery loan?
A business loan to purchase equipment, plant, or machinery for your operations. It can cover new machines, technology upgrades, plant modernisation, and in some cases refurbished equipment. Installation, commissioning, and transport costs may also be included, subject to lender policy.
Am I eligible?
Yes, if you are a registered MSME or manufacturer (proprietorship,
partnership, LLP, or company) with a viable business plan, basic financial records, and Udyam registration (or eligible for it). Specific criteria vary by lender and loan amount.
How much loan can I get?
Banks typically finance 70-90% of machinery cost. You contribute the remaining 10-30% as margin money. Under CGTMSE, collateral-free loans may be available up to ₹5 Crore (guarantee coverage does not imply automatic approval). LoanVittus estimates your eligible range and matches you with suitable lenders.
Do I need collateral?
Not always. Several options exist for collateral-free lending: CGTMSE-backed loans (up to ₹5 Crore without collateral, subject to eligibility), MUDRA loans (collateral-free by design), and select NBFC and private bank products based on cash flow and credit profile. For larger loan amounts or certain bank products, collateral or third-party guarantee may be required. LoanVittus identifies the most suitable options for your situation.
Can I get a loan for second- hand machinery?
Some lenders do finance used machinery, but it must be valued by an approved valuer, and the loan amount may be lower (50-70% of assessed value). Remaining useful life matters. Not all banks offer this LoanVittus helps identify lenders who finance pre-owned equipment.
What documents do I need?
Machinery quotation, business registration, Udyam certificate, last 2-3 years financials and ITR, 12 months bank statements, PAN, Aadhaar, and a DPR (which LoanVittus generates). For larger projects, banks may also require site inspection reports or technical feasibility studies.
Why is a DPR needed?
Banks need to see that the machine will generate enough revenue and cash flow to repay the loan. A DPR presents this clearly- covering ROI, incremental revenue, cash flow projections, and repayment capacity (DSCR). Without it, most term loan applications are rejected or delayed. LoanVittus generates bank-ready DPRs with these calculations built in.
What is the loan tenure?
Typically 3-7 years, depending on machine cost, useful life, and your repayment capacity. Some high-value capital equipment may get up to 10 years. Tenure is structured in the DPR to ensure monthly payments are manageable against projected cash flows.
Is a moratorium period available?
Yes. Banks usually require comprehensive machinery insurance (fire, theft, natural disaster, breakdown) as a loan condition. The machine serves as primary security, so insurance is mandatory. Factor the cost into your total project estimate.
Do I need insurance?
Yes. We analyse the likely reasons for your rejection, restructure your financials and projections, prepare a fresh DPR/CMA addressing the identified gaps, and help you reapply to the same or a more suitable lender. Many MSME loans are rejected not because the business is weak, but because the application was poorly structured or documentation was incomplete.
Can I get subsidy on machinery purchase?
Yes, depending on the scheme: PMEGP offers 15-35% margin money subsidy for new manufacturing units; CLCSS provides subsidy for technology upgradation; state MSME schemes may offer additional capital subsidy. Eligibility is subject to scheme guidelines and nodal agency approval. LoanVittus automatically identifies applicable schemes for your project.
How long does approval take?
Small loans (up to ₹25 Lakh): 10-20 working days. Medium loans (up to ₹2 Crore): 15-30 days. Larger projects: 30-45+ days. Timelines depend on documentation completeness and whether valuation or site inspection is needed. A complete DPR from day one reduces delays.
What interest rates can I expect?
Indicative market rates range from 9-16% p.a., depending on your profile, loan amount, and whether collateral is offered. These rates may vary based on borrower profile, lender policy, and economic conditions. LoanVittus does not set rates the bank decides. Always compare offers before accepting.
How does LoanVittus help?
We prepare your bank-ready DPR, help organise your financials, automatically match you with suitable lenders and subsidy schemes, and assist with complete application preparation. Includes CMA generation if working capital is also needed. We do not make lending decisions we help you present the strongest possible case to the bank.
What is an agriculture loan?
A loan for farming, dairy, poultry, fisheries, food processing, and other agriculture-related activities. Agri loans get special benefits because banks are required to lend to this sector under RBI’s Priority Sector Lending norms making them generally more accessible and cheaper than regular business loans.
Who can apply?
Farmers, agri-entrepreneurs, dairy and poultry operators, fisheries, food processing units, and Farmer Producer Organisations (FPOs). Both individuals and groups (Joint Liability Groups, Self-Help Groups) can apply. Tenant farmers are also eligible for many schemes. Specific criteria depend on loan type and lender.
What types are available?
Crop loans (short-term, repaid after harvest), Kisan Credit Card (KCC- flexible revolving credit), term loans (for equipment, dairy/poultry setup, infrastructure), and agri-business loans (food processing, cold storage, agri-tech). Each has different repayment structures and eligibility.
What is Kisan Credit Card (KCC)?
KCC gives farmers flexible access to credit for crop production, post-harvest expenses, and farm maintenance. If you repay on time, the effective interest rate can be as low as 4% p.a. (subject to government subvention and lender terms). Available through most public sector and cooperative banks.
Do I need collateral?
For crop loans and KCC up to ₹1.6 Lakh no collateral required (RBI guideline). Above that, banks may ask for charge on agricultural land. For agri-business term loans, it depends on loan size and lender CGTMSE and NABARD supported collateral-free options may be available for eligible projects.
What subsidies and schemes are available?
Interest subvention on crop loans up to ₹3 Lakh (effective rate as low as 4% p.a. for timely repayment); NABARD schemes for dairy/poultry/rural infrastructure; DEDS capital subsidy for dairy; Agriculture Infrastructure Fund (AIF) with interest subvention + CGTMSE coverage; and state-level subsidies for irrigation, horticulture, and farm mechanisation. LoanVittus helps identify applicable schemes based on your project type.
What documents do I need?
PAN, Aadhaar, land records (7/12 extract, title deed) or tenancy agreement, crop or business details, bank statements, and project cost estimates (for term loans). For agri-business term loans, a DPR is usually required. Specific requirements vary by loan type and lender.
Does LoanVittus support agri loans?
Currently, we provide guidance on scheme eligibility, documentation requirements, and general loan readiness. Full agri DPR generation is under development and will launch soon covering dairy, poultry, food processing, cold storage, fisheries, and aquaculture. Sign up on the platform to be notified when it goes live.
How is an agri loan different from a business loan?
Agri loans get special treatment: lower interest rates (with government subsidy), relaxed collateral rules, repayment aligned with harvest cycles (not fixed monthly EMIs for crop loans), and priority sector status. These benefits make agri lending significantly more affordable for eligible borrowers.
How long does approval take?
KCC and crop loans: 7-15 working days. Equipment term loans: 15-30 days. Agri-business projects (with DPR): 30-60 days. Timelines vary significantly between cooperative and commercial banks. Complete documentation and a well-prepared DPR reduce processing time.
What is a business expansion loan?
A loan for existing businesses to grow new branches, more capacity, new markets, or new products. Unlike start-up loans, banks evaluate your existing track record and what the expansion will add, not just the project cost.
Am I eligible?
Generally yes, if your business has been running for 2-3 years (some lenders accept 1 year), has consistent financial records, manageable existing debt, and a clear growth plan. LoanVittus assesses your profile and matches you with best-fit lenders.
How much can I get?
Depends on your business’s past performance, projected growth, and existing liabilities. Banks lend based on your ability to repay not just the project cost. Your combined repayment capacity (existing + new loan) must meet bank thresholds. LoanVittus analyses this and provides an estimated eligibility range.
Do I need collateral?
For loans up to ₹5 Crore, CGTMSE-backed collateral-free options may be available (guarantee coverage does not imply automatic approval). Larger loans typically need property or other security. LoanVittus helps explore collateral-free routes where applicable.
What is a DPR and why is it needed for MSME loans?
A Detailed Project Report (DPR) is a comprehensive document covering your project cost, means of finance, revenue projections, profitability, and loan repayment capacity. Banks use it to evaluate whether your project is viable and whether you can repay the loan. For term loans and project loans, most banks will not process your application without a properly prepared DPR. LoanVittus generates bank-ready DPRs automatically based on your inputs.
Can LoanVittus help after rejection?
Getting rejected doesn’t mean your business is weak – often, the application was just poorly structured. We analyse likely reasons (which banks rarely communicate clearly), help reorganise your financials, prepare a fresh DPR addressing identified gaps, and assist you in reapplying to the same or a more suitable lender.
How long does approval take?
Up to ₹50 Lakh: 10-25 working days. ₹50 Lakh to ₹2 Crore: 15-35 days. Larger projects: 30-45+ days. A complete DPR and application from day one reduces processing time significantly.
How long does MSME loan approval take?
Indicative ranges: Secured expansion loans- 9-14% p.a.; Unsecured/CGTMSE backed- 10-16% p.a. Rates may vary based on borrower profile, lender policy, and economic conditions. LoanVittus does not set rates these are determined by the lending institution.
What interest rates apply?
The most common reasons are: (1) Incomplete or inconsistent financial statements mismatch between ITR, bank statements, and GST returns, (2) Weak or missing DPR/CMA banks cannot assess viability without these, (3) Low credit score or adverse credit history (defaults, bounced cheques, existing overdue), (4) High existing debt or unfavourable Debt Service Coverage Ratio (DSCR), (5) Working capital gap not properly justified or documented, (6) Incorrect loan structuring applying for the wrong product or amount, and (7) Insufficient promoter contribution or margin money. LoanVittus identifies and addresses each of these before you apply.
How does LoanVittus help?
We prepare a DPR that clearly shows existing performance plus expansion impact, assess your combined repayment capacity, automatically match you with suitable lenders and subsidy schemes, and assist with complete documentation. Includes post-rejection analysis and re-application support. We assist in organising financial information we do not make lending decisions.
What schemes does LoanVittus support?
We currently support DPR preparation and application assistance for: PMEGP (Prime Minister’s Employment Generation Programme), CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises), MUDRA (Micro Units Development and Refinance Agency), Stand-Up India (for SC/ST and women entrepreneurs), and select state-level MSME subsidy schemes. Scheme availability and terms are subject to government notifications and may change.
What is PMEGP and how does the subsidy work?
PMEGP is a central government scheme for new micro enterprises. The subsidy (called margin money) ranges from 15% to 35% of project cost depending on your category and location. Important: the subsidy is not upfront cash. The bank disburses the full loan, and the subsidy is deposited as a fixed deposit released after a 3-year lock-in. Maximum project cost: ₹50 Lakh (manufacturing), ₹20 Lakh (service). LoanVittus prepares your DPR in the format required by the nodal agency.
Who is eligible for PMEGP?
You may be eligible if you are 18+ years old, have passed at least 8th standard (for projects above ₹10 Lakh in manufacturing or ₹5 Lakh in service), the project is a new unit (not expansion), and you haven’t availed another government subsidy for the same project. Eligibility is verified by the nodal agency (KVIC, KVIB, or DIC).
What is CGTMSE and how does it help?
CGTMSE provides a credit guarantee to banks, allowing them to lend to MSMEs without requiring collateral or third-party guarantee for loans up to ₹2 Crore. This means the bank’s risk is partially covered by the guarantee trust, making them more willing to lend. LoanVittus prepares your application and DPR in CGTMSE-compliant format. Note: CGTMSE coverage is not automatic the bank must apply for the guarantee, and approval is at the discretion of CGTMSE and the bank.
What is MUDRA and what are its categories?
MUDRA provides loans to micro and small enterprises through banks: Shishu (up to ₹50,000), Kishore (₹50,001 to ₹5 Lakh), Tarun (₹5,00,001 to ₹10 Lakh). No collateral required. Available for manufacturing, trading, and service activities. LoanVittus helps identify the right category and prepares documentation.
What is Stand-Up India?
Bank loans between ₹10 Lakh and ₹1 Crore for at least one SC/ST and one woman borrower per bank branch, for greenfield enterprises in manufacturing, services, or trading. LoanVittus prepares the DPR and assists with documentation.
What documents are needed for a subsidy?
Identity and address proof (PAN, Aadhaar), educational qualification proof (for PMEGP), caste certificate (for category benefits), EDP/skill training certificate (if applicable), project cost estimates, and the DPR in scheme specific format (which LoanVittus generates). Requirements vary by scheme and nodal agency.
How long does the subsidy process take?
Application to bank sanction: 30-90 days. Sanction to disbursement: 15-45 days. Subsidy margin money credit: within 30 days of disbursement (varies). PMEGP lock-in: 3 years. Timelines vary by bank, scheme, and district. A well-prepared DPR and complete documentation substantially reduce processing time.
Can I apply for multiple schemes?
You generally cannot avail subsidy under more than one scheme for the same project. However, CGTMSE guarantee coverage can be used alongside a subsidy scheme (since CGTMSE is a guarantee, not a subsidy). LoanVittus advises on the best scheme combination for your project.
Does LoanVittus guarantee subsidy approval?
No. Subsidy approval is determined by the nodal agency and the bank. LoanVittus ensures your DPR and application are in the correct format with complete documentation, which significantly improves your chances. The final decision rests with the scheme authorities.
What is the Business Ideas feature?
LoanVittus uses AI to generate business ideas tailored to your profile. Based on inputs like your location, skills, investment capacity, and interests, our system suggests viable business opportunities that are relevant to your market and financial situation. Each idea includes a preliminary assessment of market demand, estimated investment, and loan eligibility potential.
How does AI generate these ideas?
The AI analyses your background, available budget, local market conditions, sectors that banks actively finance, and alignment with government subsidy schemes. The output is a curated set of practically viable and bankable ideas not generic textbook suggestions.
Are these ideas reliable?
They serve as a strong starting point based on market data and feasibility indicators. We recommend validating any idea with local market research and, for significant investments, getting an expert review. LoanVittus offers consultation services for deeper analysis.
Can I get a DPR for an idea?
Yes. Select any AI-generated idea and directly proceed to generate a Detailed Project Report. The DPR will include project cost, means of finance, revenue projections, and repayment schedules everything a bank needs to evaluate your loan application
Are these ideas eligible for subsidies?
Many ideas are generated keeping subsidy scheme eligibility in mind the system considers PMEGP, MUDRA, and state-level MSME requirements. However, actual eligibility is verified by the nodal agency and depends on your individual profile and project specifics.
Do I need to pay?
Basic business idea generation is available as part of the platform. Detailed feasibility analysis, custom DPR generation, and expert consultation are paid services. Pricing is disclosed before you proceed.
Can I customise the ideas?
Yes. Adjust parameters like investment amount, location, and sector preference to refine suggestions. When you move to DPR generation, you can further customise assumptions and projections based on your specific plans.
What is LoanVittus?
LoanVittus is a loan readiness and financial structuring platform built by Vittus Fintech Private Limited. We help individuals and MSMEs prepare bank-ready loan applications by automating Detailed Project Reports (DPR), Credit Monitoring Arrangements (CMA), and subsidy applications. Whether you need a personal loan, business loan, or subsidy-linked project finance. LoanVittus prepares your case so you apply with confidence.
How is LoanVittus different from other loan apps?
Most loan apps only connect you to lenders. LoanVittus helps you get approved. We automatically generate bank-ready DPR and CMA reports, identify eligibility gaps before you apply, help organise your financials to match what banks evaluate, and support subsidy-linked applications under PMEGP, CGTMSE, MUDRA, and other government schemes. CA-grade expertise meets technology.
Is LoanVittus safe to use?
Yes. We use encrypted data transmission, access-controlled storage, and confidential processing of all financial documents. Your data is used solely for generating your loan-related reports and is never shared with any third party without your explicit consent. We do not store banking passwords or credentials.
Does LoanVittus provide loans directly?
No. Vittus Fintech is not a bank, NBFC, or direct lender. We prepare your loan case DPR, CMA, financial documentation and help you connect with appropriate banks and financial institutions. The final lending decision always rests with the bank.
How do I download the LoanVittus app?
Download from Google Play Store (Android) or Apple App Store (iOS). Search for “LoanVittus” and look for the official app by Vittus Fintech Private Limited. You can also access all features through our website at loanvittus.com.
What features does LoanVittus offer?
Automated DPR and CMA generation, loan eligibility assessment, subsidy application support (PMEGP, CGTMSE, MUDRA, state schemes), AI powered business idea generation, personal and business loan facilitation, expert CA consultation, and end-to-end application support from documentpreparation to bank submission.
What solutions does LoanVittus offer?
Four areas: (1) Loan Readiness- DPR, CMA, and financial structuring so your application is bank-ready; (2) Loan Facilitation- helping you explore the right loan product and lender; (3) Subsidy Support- scheme-compliant documentation for government subsidies; (4) Business Planning- AI generated business ideas and feasibility analysis for aspiring entrepreneurs.
Who can use LoanVittus?
Salaried individuals looking for personal loans, MSME owners seeking business or project loans, aspiring entrepreneurs who need a bankable business plan and DPR, and anyone looking to apply for government subsidies under PMEGP, MUDRA, Stand-Up India, or similar schemes.
Is LoanVittus free to use?
Basic features like eligibility checks and loan readiness assessments are free. Advanced services DPR/CMA generation, financial structuring, subsidy application support, and expert consultation are paid services. All charges are disclosed upfront. No hidden fees.
How do I contact LoanVittus?
Through the in-app support chat, email at support@loanvittus.com, the contact form at loanvittus.com/contact, or the customer support helpline listed on the app. Our team typically responds within 24 working hours.
How do I get started?
Visit loanvittus.com or download the app. Enter your basic details and our system will assess your profile, identify the right service DPR, eligibility check, subsidy application, or consultation and guide you through the process. Basic assessment is free.
Am I eligible for a personal loan?
Generally yes, if you are a salaried individual with regular income or a self employed professional with documented income. Common requirements: age 21-60 years, minimum monthly income (typically ₹15,000-25,000 for salaried), credit score of 700+ for competitive rates, and 6-12 months in current job (or 2+ years in business for self-employed). Criteria vary by lender.
How much personal loan can I get?
Typically ₹10,000 to ₹10 Lakh, depending on your income, credit score, existing EMIs, and the lender’s policy. Some lenders offer higher amounts for premium profiles. LoanVittus assesses your profile and provides an estimated eligibility range.
What documents do I need?
PAN and Aadhaar, last 3-6 months salary slips (salaried), 6-12 months bank statements, Form 16 or ITR for last 1-2 years, and employment proof. Self-employed applicants may also need business registration and financials. Requirements vary by lender.
Is collateral required?
No. Personal loans are unsecured no collateral, property, or guarantor is typically required. Approval is based on your income, credit score, and repayment capacity.
What interest rates apply?
Market rates generally range from 10% to 24% p.a., depending on yourcredit profile, income, loan amount, and lender. Higher credit score and stable income get you a lower rate. Rates may vary based on borrower profile, lender policy, and economic conditions. LoanVittus does not set
rates.
How fast can I get a personal loan?
LoanVittus offers instant personal loan disbursal for eligible, pre-approved applicants funds can hit your account within minutes of final approval. In some cases, depending on document verification or additional lender checks, disbursal may take 1-2 working days. Our fully digital process ensures there are no avoidable delays at any stage.
What is the processing fee?
Generally 1% to 3% of the loan amount, varying by lender. Some lenders waive fees during promotional periods. Always check the total cost of the loan including fees before accepting an offer.
Can I prepay or foreclose?
Yes. For floating-rate personal loans, RBI guidelines prohibit foreclosure charges for individual borrowers. For fixed-rate loans, a fee of 2-5% of outstanding principal may apply. Check your loan agreement for specific
terms.
What happens if I miss an EMI?
Missing an EMI can lead to penal interest (typically 1-2% per month on overdue amount), negative impact on your credit score (reported to CIBIL),and if payments stay overdue beyond 90 days, NPA classification that severely impacts future borrowing. Set up auto-debit or maintain a repayment buffer.
What credit score do I need?
Most lenders prefer 700+ for competitive rates. Some accept 650-700 at higher rates. Below 650 significantly reduces approval chances for personal loans. LoanVittus helps you understand where you stand and what you can improve.
Can LoanVittus help with low credit score?
We can assess your profile and suggest steps to improve eligibility clearing outstanding dues, reducing existing EMI burden, or waiting for negative remarks to age out. We may also help explore lenders with more flexible requirements. However, we cannot guarantee approval for low-score profiles.
What MSME loan products does LoanVittus support?
We support: (a) MSME Term Loans (for equipment, machinery, infrastructure), (b) Working Capital Loans (Cash Credit/Overdraft), (c) Project Loans (for new ventures with DPR), (d) CGTMSE-backed collateral-free loans up to ₹5 Crore, (e) MUDRA Loans (Shishu up to ₹50,000, Kishore up to ₹5 Lakh, Tarun up to ₹10 Lakh), and (f) Subsidy-linked project loans under PMEGP and state schemes.
Am I eligible for an MSME loan through LoanVittus?
Generally yes, if your business is classified as Micro, Small, or Medium Enterprise under the MSMED Act (Udyam registered or eligible), you have valid business registration, a viable plan, and satisfactory credit history. Specific criteria vary by lender and product. LoanVittus assesses your eligibility and helps explore the best-fit loan product.
How much loan can I get?
Depends on your business turnover, project cost, existing liabilities, credit score, and DPR/CMA strength. There is no universal fixed limit. Under CGTMSE, collateral-free loans up to ₹5 Crore may be available. Under MUDRA, maximum is ₹10 Lakh. LoanVittus analyses your profile and provides an estimated eligibility range.
Do I need collateral?
Not always. CGTMSE-backed loans (up to ₹5 Crore, subject to eligibility and lender discretion), MUDRA loans (collateral-free by design), and some NBFC products may not require collateral. Larger amounts or certain bank products may need property or guarantee. LoanVittus helps explore collateral-free options for your profile.
What is a DPR and why do i need it??
A Detailed Project Report (DPR) is a comprehensive document covering your project cost, means of finance, revenue projections, profitability, and loan repayment capacity. Banks use it to evaluate whether your project is viable and whether you can repay the loan. For term loans and project loans, most banks will not process your application without a properly prepared DPR. LoanVittus generates bank-ready DPRs automatically based on your inputs.
What is CMA and when is it required?
CMA (Credit Monitoring Arrangement) is a financial data format banks use to assess working capital needs. It includes your current and projected Balance Sheet, P&L, Fund Flow, and working capital assessment. Required for Cash Credit, Overdraft, and working capital proposals. LoanVittus generates CMA in standard banking format.
What documents are required?
PAN, Aadhaar, Udyam Registration, business registration (GST certificate, partnership deed, MOA/AOA as applicable), last 2-3 years ITR, audited financials, 12 months bank statements, project quotations (for new projects), and DPR/CMA (which LoanVittus generates). Specific banks may request additional documents during appraisal.
How long does approval take?
MUDRA loans: 7-15 working days. MSME term loans (up to ₹50 Lakh): 10-25 days. Project loans with DPR: 15-45 days. Working capital (CC/OD): 15-30 days. Timelines depend on bank appraisal, documentation completeness, and loan amount. A complete application from day one reduces delays significantly.
Why do MSME loans get rejected?
Common reasons: incomplete or inconsistent financials (ITR/bank
statement/GST mismatch), weak or missing DPR/CMA, low credit score, high existing debt, working capital gap not properly justified, wrong loan product or amount, or insufficient promoter contribution. LoanVittus helps identify and address each of these before you apply.
Can LoanVittus help after rejection?
Getting rejected doesn’t mean your business is weak often the application was poorly structured. We analyse likely reasons, help reorganise your financials, prepare a fresh DPR/CMA addressing gaps, and assist in reapplying to the same or a more suitable lender.
What interest rates can I expect?
Indicative ranges: MUDRA- 8-12% p.a.; MSME term loans- 9-16% p.a.; Working capital (CC/OD)- 9-15% p.a. Rates may vary based on borrower profile, lender policy, and economic conditions. LoanVittus does not set rates these are determined by the lending institution.
What is the process with LoanVittus?
Step 1: Sign up and enter your details. Step 2: System analyses your profile and project viability. Step 3: DPR/CMA generated in bank-ready format. Step 4: Suitable loan products and lenders explored. Step 5: Application prepared with complete documentation. Step 6: Submission support and follow-up with the bank.
What is a working capital loan?
A loan to fund your day-to-day business expenses- buying raw material, paying salaries, managing inventory, and keeping operations running smoothly. Unlike a term loan (for a specific asset), working capital keeps your business cash flow healthy through its regular operating cycle.
What types are available?
Three main types: (a) Cash Credit (CC)- draw and repay as needed, interest only on amount used; (b) Overdraft (OD)- similar, linked to your current account; (c) Short-term working capital loan- lump sum for a fixed period. LoanVittus helps identify which type suits your business cycle and cash flow pattern.
How do banks decide my limit?
Banks look at your sales, inventory, how fast customers pay you, and how fast you pay suppliers. They use methods like MPBF (Maximum Permissible Bank Finance)- typically 25% of projected turnover for loans up to ₹5 Crore, or detailed assessment for larger facilities. This is calculated through your CMA data. LoanVittus generates CMA in standard banking format.
Do I need collateral for an MSME loan?
Not always. Several options exist for collateral-free lending: CGTMSE-backed loans (up to ₹5 Crore without collateral, subject to eligibility), MUDRA loans (collateral-free by design), and select NBFC and private bank products based on cash flow and credit profile. For larger loan amounts or certain bank products, collateral or third-party guarantee may be required. LoanVittus identifies the most suitable options for your situation.
What is CMA and why do I need it?
CMA is a standard financial format that banks use to assess your working capital need. It shows your current and projected financials in the way banks want to see them including Balance Sheet, P&L, Fund Flow, and MPBF calculation. Required for almost all CC/OD proposals and annual renewals. Without a well-prepared CMA, your limit will be sub-optimal.
Why is my limit lower than expected?
Banks deduct your expected contribution (usually 25%), exclude non-business assets, and calculate based on your actual business cycle not what you think you need. If your receivables are fast or inventory is lean, the assessed need is lower. High creditor days also reduce the gap. LoanVittus helps optimise your CMA to get the maximum justifiable limit.
What documents do I need?
CMA data (LoanVittus generates this), last 2-3 years financials, 12 months bank statements, GST returns, latest stock statement, debtor creditor ageing details, PAN, Aadhaar, and business registration. For CC facilities, banks may also require a stock hypothecation agreement.
Why do Working Capital applications get rejected?
Common reasons: mismatch between your CMA projections and actual financials, slow collections from customers (high debtor days), weak current ratio (banks prefer 1.33+), frequent cheque bounces, declining sales trends, or adverse stock audit findings. Banks also check account conduct over-utilisation of existing limits is a red flag. LoanVittus addresses these before you apply.
What is a stock audit?
If you have a CC account, the bank sends auditors (quarterly/half-yearly) to physically check your inventory. Significant discrepancies between what you reported and what’s actually there can reduce your drawing power, trigger additional margin demands, or in extreme cases, lead to facility recall. Accurate stock records are critical.
Can I get both Working Capital and a term loan?
Yes, this is very common. Your DPR covers the term loan and CMA covers working capital. Banks assess both as a combined proposal. LoanVittus generates combined DPR+CMA, ensuring repayment analysis accounts for both facilities together.
What interest rates apply?
Indicative ranges: CC: 8.5%-15% p.a.; OD: 9-14% p.a.; Short-term WC: 9%-16% p.a. Interest on CC/OD is charged only on the amount you actually use, not the full limit. Rates may vary based on borrower profile, lender policy, and economic conditions. LoanVittus does not determine rates.
How does LoanVittus help?
We generate bank-standard CMA data, analyse your business cycle to justify the right limit, help you explore suitable lender options., prepare renewal documentation, and generate combined DPR+CMA for multi-facility proposals. We assist in organising financial information we do not make lending decisions.
What is a machinery loan?
A business loan to purchase equipment, plant, or machinery for your operations. It can cover new machines, technology upgrades, plant modernisation, and in some cases refurbished equipment. Installation, commissioning, and transport costs may also be included, subject to lender policy.
Am I eligible?
Yes, if you are a registered MSME or manufacturer (proprietorship,
partnership, LLP, or company) with a viable business plan, basic financial records, and Udyam registration (or eligible for it). Specific criteria vary by lender and loan amount.
How much loan can I get?
Banks typically finance 70-90% of machinery cost. You contribute the remaining 10-30% as margin money. Under CGTMSE, collateral-free loans may be available up to ₹5 Crore (guarantee coverage does not imply automatic approval). LoanVittus estimates your eligible range and matches you with suitable lenders.
Do I need collateral?
Not always. Several options exist for collateral-free lending: CGTMSE-backed loans (up to ₹5 Crore without collateral, subject to eligibility), MUDRA loans (collateral-free by design), and select NBFC and private bank products based on cash flow and credit profile. For larger loan amounts or certain bank products, collateral or third-party guarantee may be required. LoanVittus identifies the most suitable options for your situation.
Can I get a loan for second- hand machinery?
Some lenders do finance used machinery, but it must be valued by an approved valuer, and the loan amount may be lower (50-70% of assessed value). Remaining useful life matters. Not all banks offer this LoanVittus helps identify lenders who finance pre-owned equipment.
What documents do I need?
Machinery quotation, business registration, Udyam certificate, last 2-3 years financials and ITR, 12 months bank statements, PAN, Aadhaar, and a DPR (which LoanVittus generates). For larger projects, banks may also require site inspection reports or technical feasibility studies.
Why is a DPR needed?
Banks need to see that the machine will generate enough revenue and cash flow to repay the loan. A DPR presents this clearly- covering ROI, incremental revenue, cash flow projections, and repayment capacity (DSCR). Without it, most term loan applications are rejected or delayed. LoanVittus generates bank-ready DPRs with these calculations built in.
What is the loan tenure?
Typically 3-7 years, depending on machine cost, useful life, and your repayment capacity. Some high-value capital equipment may get up to 10 years. Tenure is structured in the DPR to ensure monthly payments are manageable against projected cash flows.
Is a moratorium period available?
Yes. Banks usually require comprehensive machinery insurance (fire, theft, natural disaster, breakdown) as a loan condition. The machine serves as primary security, so insurance is mandatory. Factor the cost into your total project estimate.
Do I need insurance?
Yes. We analyse the likely reasons for your rejection, restructure your financials and projections, prepare a fresh DPR/CMA addressing the identified gaps, and help you reapply to the same or a more suitable lender. Many MSME loans are rejected not because the business is weak, but because the application was poorly structured or documentation was incomplete.
Can I get subsidy on machinery purchase?
Yes, depending on the scheme: PMEGP offers 15-35% margin money subsidy for new manufacturing units; CLCSS provides subsidy for technology upgradation; state MSME schemes may offer additional capital subsidy. Eligibility is subject to scheme guidelines and nodal agency approval. LoanVittus automatically identifies applicable schemes for your project.
How long does approval take?
Small loans (up to ₹25 Lakh): 10-20 working days. Medium loans (up to ₹2 Crore): 15-30 days. Larger projects: 30-45+ days. Timelines depend on documentation completeness and whether valuation or site inspection is needed. A complete DPR from day one reduces delays.
What interest rates can I expect?
Indicative market rates range from 9-16% p.a., depending on your profile, loan amount, and whether collateral is offered. These rates may vary based on borrower profile, lender policy, and economic conditions. LoanVittus does not set rates the bank decides. Always compare offers before accepting.
How does LoanVittus help?
We prepare your bank-ready DPR, help organise your financials, automatically match you with suitable lenders and subsidy schemes, and assist with complete application preparation. Includes CMA generation if working capital is also needed. We do not make lending decisions we help you present the strongest possible case to the bank.
What is an agriculture loan?
A loan for farming, dairy, poultry, fisheries, food processing, and other agriculture-related activities. Agri loans get special benefits because banks are required to lend to this sector under RBI’s Priority Sector Lending norms making them generally more accessible and cheaper than regular business loans.
Who can apply?
Farmers, agri-entrepreneurs, dairy and poultry operators, fisheries, food processing units, and Farmer Producer Organisations (FPOs). Both individuals and groups (Joint Liability Groups, Self-Help Groups) can apply. Tenant farmers are also eligible for many schemes. Specific criteria depend on loan type and lender.
What types are available?
Crop loans (short-term, repaid after harvest), Kisan Credit Card (KCC- flexible revolving credit), term loans (for equipment, dairy/poultry setup, infrastructure), and agri-business loans (food processing, cold storage, agri-tech). Each has different repayment structures and eligibility.
What is Kisan Credit Card (KCC)?
KCC gives farmers flexible access to credit for crop production, post-harvest expenses, and farm maintenance. If you repay on time, the effective interest rate can be as low as 4% p.a. (subject to government subvention and lender terms). Available through most public sector and cooperative banks.
Do I need collateral?
For crop loans and KCC up to ₹1.6 Lakh no collateral required (RBI guideline). Above that, banks may ask for charge on agricultural land. For agri-business term loans, it depends on loan size and lender CGTMSE and NABARD supported collateral-free options may be available for eligible projects.
What subsidies and schemes are available?
Interest subvention on crop loans up to ₹3 Lakh (effective rate as low as 4% p.a. for timely repayment); NABARD schemes for dairy/poultry/rural infrastructure; DEDS capital subsidy for dairy; Agriculture Infrastructure Fund (AIF) with interest subvention + CGTMSE coverage; and state-level subsidies for irrigation, horticulture, and farm mechanisation. LoanVittus helps identify applicable schemes based on your project type.
What documents do I need?
PAN, Aadhaar, land records (7/12 extract, title deed) or tenancy agreement, crop or business details, bank statements, and project cost estimates (for term loans). For agri-business term loans, a DPR is usually required. Specific requirements vary by loan type and lender.
Does LoanVittus support agri loans?
Currently, we provide guidance on scheme eligibility, documentation requirements, and general loan readiness. Full agri DPR generation is under development and will launch soon covering dairy, poultry, food processing, cold storage, fisheries, and aquaculture. Sign up on the platform to be notified when it goes live.
How is an agri loan different from a business loan?
Agri loans get special treatment: lower interest rates (with government subsidy), relaxed collateral rules, repayment aligned with harvest cycles (not fixed monthly EMIs for crop loans), and priority sector status. These benefits make agri lending significantly more affordable for eligible borrowers.
How long does approval take?
KCC and crop loans: 7-15 working days. Equipment term loans: 15-30 days. Agri-business projects (with DPR): 30-60 days. Timelines vary significantly between cooperative and commercial banks. Complete documentation and a well-prepared DPR reduce processing time.
What is a business expansion loan?
A loan for existing businesses to grow new branches, more capacity, new markets, or new products. Unlike start-up loans, banks evaluate your existing track record and what the expansion will add, not just the project cost.
Am I eligible?
Generally yes, if your business has been running for 2-3 years (some lenders accept 1 year), has consistent financial records, manageable existing debt, and a clear growth plan. LoanVittus assesses your profile and matches you with best-fit lenders.
How much can I get?
Depends on your business’s past performance, projected growth, and existing liabilities. Banks lend based on your ability to repay not just the project cost. Your combined repayment capacity (existing + new loan) must meet bank thresholds. LoanVittus analyses this and provides an estimated eligibility range.
Do I need collateral?
For loans up to ₹5 Crore, CGTMSE-backed collateral-free options may be available (guarantee coverage does not imply automatic approval). Larger loans typically need property or other security. LoanVittus helps explore collateral-free routes where applicable.
What is a DPR and why is it needed for MSME loans?
A Detailed Project Report (DPR) is a comprehensive document covering your project cost, means of finance, revenue projections, profitability, and loan repayment capacity. Banks use it to evaluate whether your project is viable and whether you can repay the loan. For term loans and project loans, most banks will not process your application without a properly prepared DPR. LoanVittus generates bank-ready DPRs automatically based on your inputs.
Can LoanVittus help after rejection?
Getting rejected doesn’t mean your business is weak – often, the application was just poorly structured. We analyse likely reasons (which banks rarely communicate clearly), help reorganise your financials, prepare a fresh DPR addressing identified gaps, and assist you in reapplying to the same or a more suitable lender.
How long does approval take?
Up to ₹50 Lakh: 10-25 working days. ₹50 Lakh to ₹2 Crore: 15-35 days. Larger projects: 30-45+ days. A complete DPR and application from day one reduces processing time significantly.
How long does MSME loan approval take?
Indicative ranges: Secured expansion loans- 9-14% p.a.; Unsecured/CGTMSE backed- 10-16% p.a. Rates may vary based on borrower profile, lender policy, and economic conditions. LoanVittus does not set rates these are determined by the lending institution.
What interest rates apply?
The most common reasons are: (1) Incomplete or inconsistent financial statements mismatch between ITR, bank statements, and GST returns, (2) Weak or missing DPR/CMA banks cannot assess viability without these, (3) Low credit score or adverse credit history (defaults, bounced cheques, existing overdue), (4) High existing debt or unfavourable Debt Service Coverage Ratio (DSCR), (5) Working capital gap not properly justified or documented, (6) Incorrect loan structuring applying for the wrong product or amount, and (7) Insufficient promoter contribution or margin money. LoanVittus identifies and addresses each of these before you apply.
How does LoanVittus help?
We prepare a DPR that clearly shows existing performance plus expansion impact, assess your combined repayment capacity, automatically match you with suitable lenders and subsidy schemes, and assist with complete documentation. Includes post-rejection analysis and re-application support. We assist in organising financial information we do not make lending decisions.
What schemes does LoanVittus support?
We currently support DPR preparation and application assistance for: PMEGP (Prime Minister’s Employment Generation Programme), CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises), MUDRA (Micro Units Development and Refinance Agency), Stand-Up India (for SC/ST and women entrepreneurs), and select state-level MSME subsidy schemes. Scheme availability and terms are subject to government notifications and may change.
What is PMEGP and how does the subsidy work?
PMEGP is a central government scheme for new micro enterprises. The subsidy (called margin money) ranges from 15% to 35% of project cost depending on your category and location. Important: the subsidy is not upfront cash. The bank disburses the full loan, and the subsidy is deposited as a fixed deposit released after a 3-year lock-in. Maximum project cost: ₹50 Lakh (manufacturing), ₹20 Lakh (service). LoanVittus prepares your DPR in the format required by the nodal agency.
Who is eligible for PMEGP?
You may be eligible if you are 18+ years old, have passed at least 8th standard (for projects above ₹10 Lakh in manufacturing or ₹5 Lakh in service), the project is a new unit (not expansion), and you haven’t availed another government subsidy for the same project. Eligibility is verified by the nodal agency (KVIC, KVIB, or DIC).
What is CGTMSE and how does it help?
CGTMSE provides a credit guarantee to banks, allowing them to lend to MSMEs without requiring collateral or third-party guarantee for loans up to ₹2 Crore. This means the bank’s risk is partially covered by the guarantee trust, making them more willing to lend. LoanVittus prepares your application and DPR in CGTMSE-compliant format. Note: CGTMSE coverage is not automatic the bank must apply for the guarantee, and approval is at the discretion of CGTMSE and the bank.
What is MUDRA and what are its categories?
MUDRA provides loans to micro and small enterprises through banks: Shishu (up to ₹50,000), Kishore (₹50,001 to ₹5 Lakh), Tarun (₹5,00,001 to ₹10 Lakh). No collateral required. Available for manufacturing, trading, and service activities. LoanVittus helps identify the right category and prepares documentation.
What is Stand-Up India?
Bank loans between ₹10 Lakh and ₹1 Crore for at least one SC/ST and one woman borrower per bank branch, for greenfield enterprises in manufacturing, services, or trading. LoanVittus prepares the DPR and assists with documentation.
What documents are needed for a subsidy?
Identity and address proof (PAN, Aadhaar), educational qualification proof (for PMEGP), caste certificate (for category benefits), EDP/skill training certificate (if applicable), project cost estimates, and the DPR in scheme specific format (which LoanVittus generates). Requirements vary by scheme and nodal agency.
How long does the subsidy process take?
Application to bank sanction: 30-90 days. Sanction to disbursement: 15-45 days. Subsidy margin money credit: within 30 days of disbursement (varies). PMEGP lock-in: 3 years. Timelines vary by bank, scheme, and district. A well-prepared DPR and complete documentation substantially reduce processing time.
Can I apply for multiple schemes?
You generally cannot avail subsidy under more than one scheme for the same project. However, CGTMSE guarantee coverage can be used alongside a subsidy scheme (since CGTMSE is a guarantee, not a subsidy). LoanVittus advises on the best scheme combination for your project.
Does LoanVittus guarantee subsidy approval?
No. Subsidy approval is determined by the nodal agency and the bank. LoanVittus ensures your DPR and application are in the correct format with complete documentation, which significantly improves your chances. The final decision rests with the scheme authorities.
What is the Business Ideas feature?
LoanVittus uses AI to generate business ideas tailored to your profile. Based on inputs like your location, skills, investment capacity, and interests, our system suggests viable business opportunities that are relevant to your market and financial situation. Each idea includes a preliminary assessment of market demand, estimated investment, and loan eligibility potential.
How does AI generate these ideas?
The AI analyses your background, available budget, local market conditions, sectors that banks actively finance, and alignment with government subsidy schemes. The output is a curated set of practically viable and bankable ideas not generic textbook suggestions.
Are these ideas reliable?
They serve as a strong starting point based on market data and feasibility indicators. We recommend validating any idea with local market research and, for significant investments, getting an expert review. LoanVittus offers consultation services for deeper analysis.
Can I get a DPR for an idea?
Yes. Select any AI-generated idea and directly proceed to generate a Detailed Project Report. The DPR will include project cost, means of finance, revenue projections, and repayment schedules everything a bank needs to evaluate your loan application
Are these ideas eligible for subsidies?
Many ideas are generated keeping subsidy scheme eligibility in mind the system considers PMEGP, MUDRA, and state-level MSME requirements. However, actual eligibility is verified by the nodal agency and depends on your individual profile and project specifics.
Do I need to pay?
Basic business idea generation is available as part of the platform. Detailed feasibility analysis, custom DPR generation, and expert consultation are paid services. Pricing is disclosed before you proceed.
Can I customise the ideas?
Yes. Adjust parameters like investment amount, location, and sector preference to refine suggestions. When you move to DPR generation, you can further customise assumptions and projections based on your specific plans.