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Smart Loans for Smarter Businesses

A business loan is more than just financial support—it's a stepping stone to growth. Whether you're managing working capital, expanding operations, or investing in new opportunities, the right loan can help your business move forward with confidence. With PSB59's seamless digital loan journey and smart repayment planning, borrowing becomes simple, responsible, and hassle-free.

🚀 Need funds to grow your business without pledging assets? A Collateral-Free MSME Loan can help you manage working capital, expand operations, purchase equipment, and grow your business with ease.

At Surence Solutions Private Limited, we provide expert MSME loan assistance, easy documentation support, and access to multiple lending partners for a smooth loan experience.

📞 Call: +91 88102 79304 | +91 89698 81194 📧 Email: [email protected] 🌐 Website: https://surenceloan.com

Planning to expand your business with a second outlet? Learn how to secure financing for your next business location with the right loan. This guide covers eligibility, required documents, loan options, application process, and practical tips to improve your approval chances. Whether you're opening another retail store, restaurant, or franchise, discover how business expansion loans can help you grow with confidence. Read more on the PSB Loans in 59 Minutes Knowledge Hub.

No More Loan-ly Days – Fast, Easy & Transparent Business Financing with PSB Loans in 59 Minutes

By creating jobs, stimulating innovation, and contributing substantially to India's GDP, MSMEs are important to India's economy. However, restricted access to timely credit due to lengthy paperwork and traditional lending procedures has inhibited their expansion.

The PSB59 initiative has completely changed this model by enabling an MSME to receive pre-approved loans within 59 minutes through a digital, data-driven process. The scheme has now funded 2.2 lakh MSMEs, totaling almost ₹68,000 crore in loans. This has enabled MSME entrepreneurs to grow their operations, purchase new technology, and expand their businesses in a variety of sectors. The following are some examples of how MSMEs have been successful because of PSB59 loans:

A Woman Entrepreneur Expanding Her Toy Business

A woman entrepreneur behind Gauri Arts, a toy manufacturing and handicrafts business, secured an MSME loan from the State Bank of India by applying through the PSB59 platform. Gauri Arts specializes in handcrafted toys that are loved by children and valued as unique gifts.

As customer demand increased, the business required additional funds to expand production capacity, purchase raw materials, and reach a wider market. By using the PSB59 platform, the entrepreneur received quick digital loan approval, enabling her to access the required financing without delays.

With timely financial support, Gauri Arts scaled up production, diversified its product range, and strengthened its presence in the toy and handicrafts market. This success story highlights how digital lending solutions can empower women entrepreneurs to grow their businesses and contribute to the MSME sector.

Watch the testimonial: https://www.youtube.com/watch?v=RGnLni3DBTM 2. Strengthening the Textile Retail Business

MSME Loans provided Jaiswal Vastralay & Company, a retailer of textiles and ready-made garments, funding to expand its business through the PSB59 platform. The business needed funds to expand its fabric and ready-made garment inventory to meet increased customer demand.

The PSB59 digital portal allowed the entrepreneur to process the loan faster than the traditional method. The loan enabled the businessman to maintain inventory and provide better products and options to its customers, which will help grow its retail business. The businessman thanked Punjab National Bank for helping his business grow through timely financial assistance.

Watch the testimonial: https://www.youtube.com/watch?v=lAXx9NuvC6k

3. Supporting Agricultural Retail Growth

Krushi Raksha Rasayan Bhandar, an agricultural input retailer, secured an MSME loan from Punjab National Bank through the PSB59 platform to strengthen its business operations. The store supplies essential agricultural products, including fertilisers, pesticides, and other farming inputs, to support the needs of local farmers.

Using the platform's simple digital loan application process, the entrepreneur obtained timely financial assistance to improve working capital. This enabled the business to maintain adequate inventory, ensure a consistent supply of agricultural products, and serve the farming community more efficiently. The success of Krushi Raksha Rasayan Bhandar demonstrates how digital lending solutions can help agricultural retailers expand their operations and better support local farmers.

Watch the testimonial: https://www.youtube.com/watch?v=HvajxsMDrNU 

4. Expanding Paper Supply Operations

Vardhman Paper has received an MSME loan from Punjab National Bank through the PSB59 portal to support their expanding paper distribution business. The entrepreneur used the digital platform to apply for their loan and received faster processing than with traditional lenders.

The loan proceeds will enable them to add more products to their inventory and create more efficient supply chains for clients such as printing houses, corporations, and educational institutions. Access to additional working capital and streamlined financing has allowed them to expand their market reach.

Watch the testimonial: https://www.youtube.com/watch?v=QWn-yO-zPsU

5. Astronomical and Scientific Products

C-SKY Scientifics Pvt Ltd, an Indian-based Manufacturer of Astronomical and Scientific Instruments for Educational Institutions and Research Facilities, received an MSME Loan from Indian Overseas Bank through the PSB59 Platform to expand operations due to the growing demand for their products.

The digital loan application process allowed for faster funding while providing access to low-cost financing. With this financial support, C-SKY was able to increase production capacity as well as develop new product lines, continuing to support Scientific Education and Research through these institutions.

Watch the testimonial: https://www.youtube.com/watch?v=2w1K_2NxmaQ

6. Empowering Women Entrepreneurs Through Accessible Credit

Venus Enterprises received an MSME loan from Punjab National Bank to enhance the growth of a woman entrepreneur's business operations using the PSB59 portal. The entrepreneur applied online via the digital platform and received a quicker, more convenient loan process than would have been possible with traditional methods.

With financial assistance, the company enhanced its working capital management and improved the service it provided to its customers. The entrepreneur thanked Punjab National Bank for providing access to credit through the PSB59 platform.

Watch the testimonial: https://www.youtube.com/watch?v=Z-1dbqej2QU

7. Strengthening Fuel Distribution Operations

Rushank Petroleum received an MSME loan from State Bank of India (SBI) through the PSB59 platform, which supported its cash flow and daily needs related to the sale of petroleum products. Unlike traditional processes for accessing capital, using the PSB59 portal allowed the entrepreneur to obtain financing much more quickly and easily.

This timely availability of loan proceeds allowed Rushank to enhance its operating efficiency and provide better service to its customers. The entrepreneur expressed appreciation to SBI for enabling access to funding through this digital MSME financing platform, thereby supporting the Company’s growth.

Watch the testimonial: https://www.youtube.com/watch?v=AaS4hBwNhvw

8. A Customised Computer Seller Business Expanding Its IT Solutions

A SME GINISH INFOTECH business provides customised computer and IT support. The owner decided to seek additional funding due to increasing demand for high-performance systems. Therefore, they applied for a PSB59 loan with basic financial information for digital evaluation. They quickly received digital approval for the loan, which allowed them to invest in improved tools, additional inventory, and skilled technicians.

As a result of this investment, they were able to add additional services (such as network setup and server installation), serve more customers, generate more revenue, and become better established in the local technology market. They got it from Punjab National Bank.

Watch the testimonial video here: https://www.youtube.com/watch?v=snxeai9LgtI

9. Jewellery business

M/S Aaditiya Jewellers received an MSME loan from Punjab National Bank through the PSB59 portal system. With access to financing, the business could strengthen its working capital, expand its inventory of jewellery, and improve service to its customers. A simplified digital lending process provided an entrepreneur with quick approval times compared to traditional lending methods, allowing him to focus on growing and operating his business.

This case illustrates how easy access to credit through PSB59 can help jewellery and other MSMEs grow and serve customers more effectively.

Watch this testimonial to see how M/S Aaditiya Jewellery expanded its business with an MSME loan: https://www.youtube.com/watch?v=QQ418Uo0pCc

Why PSB59 Makes a Difference for MSMEs

These success stories highlight how digital lending is transforming the MSME financing landscape.

Unlike traditional loan processes that often involve multiple bank visits, extensive paperwork, and long waiting periods, the PSB59 platform simplifies and accelerates the loan application journey.

Key benefits include:

Digital Approval in 59 Minutes: Eligible applicants can receive digital in-principle approval for collateral-free MSME term loans in as little as 59 minutes, significantly reducing the time spent waiting for loan decisions.

Digital Data Integration: The platform evaluates business creditworthiness by securely analysing GST data, Income Tax Returns (ITRs), and bank statements, minimizing the need for manual documentation.

Wider Access to Credit: Eligible MSMEs can apply for loans ranging from ₹10 lakh to ₹5 crore, depending on their credit profile and lender assessment.

Support for Business Growth: Businesses can use MSME loans for various purposes, including purchasing machinery, upgrading technology, expanding infrastructure, and meeting working capital requirements.

By combining speed, transparency, and a fully digital application process, PSB59 enables MSMEs to access timely finance and focus on growing their businesses with greater confidence.

The Bigger Impact on India’s MSME Ecosystem

The impact of PSB59 goes beyond individual businesses. By improving access to credit, the platform supports entrepreneurship, job creation, and economic development.

As digital lending platforms continue to evolve, they are making financial services more inclusive for small businesses that were historically underserved by traditional banking systems.

For MSMEs, getting quick access to funds is often the key factor that separates stagnation from expansion. Timely credit enables business owners to take advantage of opportunities by investing in machinery upgrades, entering new markets, and enhancing their businesses to drive growth.

Conclusion

Every successful MSME has a story of resilience, innovation, and ambition. For many of these businesses, access to timely funding is crucial to their journey.

The PSB59 Minutes platform has enabled thousands of business owners in India to bypass traditional financing barriers by providing faster approvals & easier access to credit. MSMEs from all sectors - manufacturing, textile, food processing, service - are using the PSB59 Minutes platform to expand and achieve sustainable growth.

As more businesses embrace digital lending solutions, initiatives like PSB59 will continue to empower entrepreneurs and strengthen India’s vibrant MSME ecosystem.

Additional Read:

Is an MSME Loan Available Without Security for a New Business?

MSME Loans for Small Businesses

Which Bank is the Best for an MSME Loan in India?

Understanding MSME Business Loan Eligibility Criteria in 2026

Best Loan Options for Manufacturing MSMEs in 2025

Top 5 Business Loan Schemes for Women Entrepreneurs in India

Can a Fresher Get a Business Loan?

Read the full article using the link below 

MSME Loan for Catering Business: Grow Your Food Business with the Right Funding

MSME loan approval in India has always taken weeks until PSB59 changed everything. PSB Loans in 59 Minutes (PSB59) now enables business loan approval digitally in under one hour, transforming how Indian entrepreneurs access credit.

In today’s rapidly changing business world, speed is no longer an option; it’s a matter of survival. Business opportunities emerge and vanish in a matter of weeks, and sometimes even days. For MSMEs in India, waiting 30 to 45 days for a conventional MSME loan or business loan means missing out on a sales season, supplier discounts, expansion plans, or immediate funding needs.

PSB Loans in 59 Minutes (PSB59) is an online lending platform supported by the Indian government that offers Digital approval for an MSME loan or business loan in 59 minutes or less. The platform aims to make lending simpler and faster by reducing unnecessary paperwork, minimising branch visits, and using data-driven approvals to empower Indian entrepreneurs.

PSB59 is more than just a lending platform; it’s a movement across India to make lending faster, smarter, and more inclusive.

What Is PSB59 and Why Does It Matter?

PSB59 is an online lending platform built by OPL, with majority ownership by SIDBI and major Public Sector Banks. It was designed to solve a problem that has long plagued India: the time and complexity involved in securing an MSME loan or business loan.

Historically, business owners had to:

Visit multiple bank branches

Submit paper documents

Wait weeks for manual processing

Post collateral in most cases

Dealing with unclear approval procedures

PSB59 has removed these hurdles by bringing in:

Digital data aggregation from GST, Income Tax, and banking sources

AI/ML-based credit scoring

Digital approval in 59 minutes

Loan values ranging from ₹1 lakh to ₹5 crores

Multiple bank offers on a single platform.

The Unique Selling Proposition of PSB59

The most prominent USP of PSB59 is:

Digital approval for an MSME loan in 59 minutes or less.

However, the true benefit of PSB59 goes beyond this.

1. Data-Driven Credit Analysis

Unlike traditional methods, where credit analysis is done manually, PSB59 accesses data directly from:

GST returns

ITR (Income Tax Returns)

Bank statements

MCA records (if applicable)

This makes the process less subjective and more transparent when analysing a business loan application.

2. Faster Loan Processing and Disbursal

PSB59 significantly reduces the time required to obtain business financing. While eligible applicants can receive digital loan approval in 59 minutes or less, the final loan disbursal is typically completed within 7–10 working days, subject to bank verification and documentation.

Compared to the traditional lending process, which often takes 30–45 days, PSB59 offers a much faster and more efficient path to accessing funds, enabling businesses to meet their financial needs without unnecessary delays.

3. Collateral-Free Loans

With CGTMSE insurance, eligible applicants can avail an MSME loan with collateral free loans. These are loans that do not require collateral up to certain limits. This is particularly helpful for:

Start-ups

Women entrepreneurs

First-generation entrepreneurs

Small traders and manufacturers

4. Choice of Lenders

Applicants can receive multiple offers from public sector banks and select the most suitable business loan based on interest rates and terms.

5. Minimal Processing Fee

The platform charges a nominal processing fee (₹1000 + GST), making PSB59 extremely accessible.

How PSB59 Helps MSMEs Grow Faster

For MSMEs, timing is of the essence. A delayed business loan may affect:

Purchase of inventory

Purchase of machinery

Payment to suppliers

Marketing activities

Entry into new markets

Expansion of operations

PSB59 helps ensure that a deserving business owner does not falter due to delayed business loans.

Working Capital Loans

Seasonal businesses may need immediate funding. With PSB59, working capital loan for MSMEs can be processed quickly, allowing business owners to seize opportunities during peak demand periods.

Expansion & Term Loans

Whether it is the purchase of machinery, an expansion of operations, or the hiring of more employees, a term loan from PSB59 facilitates growth without too many procedural complexities.

Support for Government Initiatives

PSB59 supports the government’s vision of "Atmanirbhar Bharat" by helping MSMEs, which are the backbone of the Indian economy.

Eligibility Criteria for PSB59 MSME Loan

The eligibility criteria for a PSB59 MSME loan are very simple:

Business should be running (ideally for 6 months or more)

Valid GSTIN (for GST-registered businesses)

Filed ITR (for the last 1-3 years)

Has an active bank account with a transaction history

KYC documents in order

There is no strict turnover requirement for Digital approval, but consistency in financial statements helps to get a higher business loan amount.

Both companies and proprietorships can apply for a loan through PSB59, provided the requirements are met.

Which documents are Required for PSB59 Business Loan

One of the best things about PSB59 is that the documentation required is minimal. Everything is online.

The following documents need to be prepared:

GSTIN details

ITR in XML format

Last 6 months' bank statements in PDF format

PAN and Aadhaar details of directors/proprietors

Details of existing loans (if any)

There is no requirement for physical documentation at the initial stage. This makes the MSME loan application process much easier.

How to Apply for a Business Loan on PSB59

Applying for an MSME or business loan through PSB59 is a simple, fully digital process designed to save both time and effort.

Step 1: Register on the Platform

Visit the PSB59 portal and create your account using your mobile number and email address.

Step 2: Complete Your Business Profile

Provide your business details, including GSTIN, Income Tax Return (ITR) information, and banking details. The platform securely fetches and analyzes your financial data to streamline the application process.

Step 3: Choose the Loan Type

Select the loan that best suits your business needs, such as a working capital loan or a term loan, and enter the desired loan amount.

Step 4: Upload Required Documents

Submit the necessary documents digitally and complete the applicable processing fee payment.

Step 5: Receive Digital Approval

Once your application is evaluated, eligible applicants can receive a digital loan approval in as little as 59 minutes.

Step 6: Select a Lender and Complete Verification

Review the loan offers available from participating banks, choose the most suitable option, and complete the final verification process for loan disbursal.

How PSB59 led to shift in borrower psychology

Borrowing in India was associated with the following until PSB59:

Fear of rejection

Waiting periods

Paperwork

Collateral

Uncertainty

This is a conservative borrowing culture among MSMEs.

PSB59: is bringing about a change in this.

Today, entrepreneurs do not consider an MSME loan a burden but a catalyst for growth. A business loan is no longer a survival strategy but a financial move.

The impact of this change in psychology is immense:

Decisions boost business confidence

Transparency enhances trust in banking systems

Digitalisation reduces hurdles

Options improve competitiveness

Benefits Snapshot of PSB59

Here’s what makes PSB59 special:

Digital approval in 59 minutes

Digital application – no need to visit branches

Loan amount from ₹1 lakh to ₹5 crores

Collateral-free loans (subject to cases)

AI-driven unbiased assessment

Multiple lender options

Transparent tracking system

How PSB59 Aids in Financial Inclusivity

India has a huge number of small businesses that have been struggling to get institutional loans. They have been forced to borrow from moneylenders.

PSB59 fills this gap by:

Making MSME loan applications standardised

Less dependence on middlemen

Making approvals data-driven and systematic

Encouraging digital financial literacy

This is important for India's economic development

Challenges and Smart Application Tips

Although PSB59 is an efficient system, businesses must remember to:

Ensure GST and ITR returns are accurate and up to date.

Ensure bank statements show healthy transaction activity.

Ensure CIBIL scores remain high.

Ensure there are no significant compliance issues.

Although Digital approval for a business loan can be obtained quickly, final approval is subject to verification and bank norms.

Adherence to financial prudence improves the likelihood of approval for an MSME loan.

The Larger Economic Effect of PSB59

MSMEs are a major contributor to India’s GDP and employment base. By facilitating faster credit flow:

Production cycles get reduced

Supply chains get strengthened

Job opportunities increase

Tax compliance gets improved

PSB59 is not only processing business loans; it is also bolstering the country's economic backbone.

As AI and analytics technologies advance, PSB59 is expected to improve predictive credit models, minimise default risk, and increase lender participation.

Why PSB59 Is the Future of Business Lending in India

The success of PSB59 demonstrates that technology, when combined with the power of public-sector banking, can transform the way things are done.

Its key strengths are:

Speed

Transparency

Accessibility

Reliability with the backing of the government

Data-driven decision-making

For MSMEs looking for an MSME loan or a business loan for growth, PSB59 provides:

Fast turnaround times

Easy compliance

Attractive bank deals

Trust in structured borrowing

The lending culture in India is changing. Entrepreneurs today do not wait for opportunities; they plan for them.

And with PSB59, borrowing money is no longer an issue.

Final Thoughts: 59 Minutes That Can Change Your Business

In today’s business world, time is equal to opportunity. Waiting weeks for a credit decision is simply no longer acceptable.

PSB59 has changed the way India thinks about MSME loans and business loans. It has brought about an end to uncertainty, waiting, and paperwork.

If you are an entrepreneur looking to grow, stabilise, or fast-track your business, look no further than PSB59 today.

Because sometimes, all it takes is 59 minutes to change your business future.

Additional Read:

How to Choose the Right Bank While Applying for PSB Loans in 59 Minutes

How to Apply for MSME Loans through PSB59 in 2025: Step-by-Step Guide

Can I Apply for a PSB59 Loan Without GST Registration?

PSB59 vs Conventional Banks: What MSMEs Need to Know

Online Business Loan: PSB59 vs Bank Branch

PSB59 vs Traditional Loan Process: What Makes It 5X Faster for MSMEs?

How PSB59’s Smart Underwriting Reduces Loan Rejection for MSMEs

Top 20 FAQs About PSB59 Every Business Owner Should Know

Can I apply for multiple loans at once using PSB59?

Are common business loan myths preventing you from growing your business? In this video, we debunk the most common misconceptions about business loans and explain the facts every entrepreneur, startup, MSME, shop owner, and business owner should know.

📌 In This Video:

✅ Myth #1 — Only large businesses can get a business loan.  ✅ Myth #2 — Business loans are difficult to get.  ✅ Myth #3 — Business loans are only for business expansion.  ✅ Myth #4 — Business loans always have high interest rates.  ✅ Myth #5 — Business loans require heavy paperwork.

Learn how business loans can help with working capital, inventory purchases, equipment upgrades, marketing campaigns, and day-to-day business operations.

If you’re planning to apply for a business loan, this guide will help you make informed financial decisions and avoid common misconceptions.

📞 Contact Surence Solutions Private Limited

📱 +91 88102 79304  📱 +91 89698 81194  📧 [email protected]  🌐 www.surenceloan.com

Surence Solutions Private Limited  Your Trusted Financial Partner for Business Growth.