Fast, Flexible, Focused: Skywing Capital Micro-LAP ₹10–50 L”
Traditional loans frequently fall short when time is money, particularly for individuals in immediate need of money, self-employed professionals, and small business owners. For loans between ₹10 and ₹50 lakhs, Skywing Capital’s Micro-LAP (Loan Against Property) provides a quick, adaptable, and goal-oriented solution.Our Micro-LAP offering, which is supported by less paperwork, quicker approvals, and transparent terms, is made to go at your pace, whether your goal is to manage working capital, grow your business, or satisfy personal financial needs. At Skywing Capital, we enable you to take action when it counts most, not just lend money.
What Is Micro‑LAP & Its Purpose
Small business owners can access capital ranging from ₹10 L to ₹50 L through the Micro Loan Against Property (Micro LAP) program by using their own residential or commercial property as collateral. MSMEs, store owners, and service providers who require structured funding without depending on unsecured credit are served by these loans. Working capital, debt consolidation, remodeling, buying equipment, and even emergency liquidity are all possible uses for the money. Disbursement is frequently made within days following valuation and documentation and is accessible through banks, NBFCs, and HFCs. Flexibility in eligibility is possible; if income is indirectly verified, some lenders, such as ICICI HFC, will even approve applications without ITRs. Because of this, Micro-LAP is appropriate for borrowers who have a strong desire to repay but little official documentation.
Loan Amount & Tenure Options
Depending on the lender, loan amounts can range from ₹10 L to ₹25 L to ₹50 L. For instance, RBL Bank’s Micro category offers tenures of up to 180 months and covers ₹10.01–25 L and Small LAP ₹25.01–50 L. With a 15-year tenure and features like interest-only options, Godrej Capital’s Udyog LAP goes further, offering up to ₹3 Cr. Tata Capital offers Micro LAPs with durations ranging from 12 to 120 months, with a cap of ₹25 L. Long terms make it easier to effectively manage EMIs across a range of repayment capacities.
Interest Rates & APR
Rates are dependent on documentation and credit profile and range from 11% to 24% annually. Tata Capital’s Micro LAP begins at 17% and can reach 24%, while Gupta-led Udyog LAP begins at about 11%. For lower-tier borrowers, effective APRs (including fees) range from 25 to 34%. Preferential rates can be obtained by borrowers who have co-applicants and substantial income proof, particularly at banks like SBI or ICICI HFC
Loan-to-Value (LTV) & Collateral
LTV ratios usually fall between 70 to 75 percent of the property’s market value.Both Micro and Small LAP are offered by RBL up to LTV limits that are aligned with the set limits. In commercial real estate, higher LTVs can be achieved through special collateralized products, even though Tata Capital and ICICI HFC follow similar standards. The technical teams carry out on-site visits for property valuation, ensuring the quality of the collateral before releasing the funds.
Eligibility & Documentation
Most lenders accept people who are paid a salary or run their own business, as long as they are between 21 and 70 years old. ICICI HFC allows Micro-LAP loans with easier rules, even if you don’t have income tax returns. The required documents include KYC proof, ownership papers, proof of income like bank statements, tax returns, or other alternatives, and evidence that your business is still running. To make the loan approval more likely and get a higher loan value, it’s common to have a co-applicant, such as a spouse, parent, or adult child.
Fees & Charges
A processing fee of 2-3.5% plus GST is to be expected, along with valuation and legal fees at the time of sanction. A ₹5,000 login fee is charged by ICICI HFC, and foreclosure fees of 4% for fixed-rate business-purpose loans and 0% for floating-rate loans may be incurred. The fee structures of RBL Bank and Tata Capital are comparable; depending on the loan terms, early closure penalties can range from 2 to 6%.
Disbursement & Repayment Modes
Loans are paid out in full against the mortgaged property; companies such as Godrej provide overdraft or flexi-fund options. The majority of repayments are made through EMIs that are sent via standing orders or NACH. While fixed-rate borrowers may be penalized for early withdrawal, some banks waive prepayment fees for floating-rate loans.
Advantages vs. Unsecured Loans
Longer terms, structured repayment plans, and significantly lower interest rates than personal or business loans—which frequently reach up to 36% annually—are just a few advantages of micro-LAP. Collateral frees up working capital by enabling larger loan amounts at lower interest rates. Additionally, the structured nature enhances financial discipline, which aids small businesses in establishing credit scores and growing in a sustainable manner.
Risks & Best Practices
Longer terms, structured repayment plans, and significantly lower interest rates than personal or business loans—which frequently reach up to 36% annually—are just a few advantages of micro-LAP. Collateral frees up working capital by enabling larger loan amounts at lower interest rates. Additionally, the structured nature enhances financial discipline, which aids small businesses in establishing credit scores and growing in a sustainable manner.
For More information
Call Us : +91-9392211976 , 7207531976
Email : admin@skywingloans.com
Visit Us : www.skywingloans.com
