What is 59 Minute Loan ?
59 Minute Loan is initiative by government in order to promote MSME businesses by providing them with loan assistance through online portal. For processing the loan in 59 minutes government has setup a market place known as https://www.helpurstartup.in which enables the business owner to apply for Small Business Loan with Loan Amount ranging from Rs 10 Lakh uptoRs 1 Crore in just 59 minutes.This initiative was taken to ease the MSME Business and promote self-employed business model in India by reducing the loan approval process and long queues at the bank. PSB Loans in 59 minutes aims at approving the business loan in 59 minutes thus reducing it significantly from a long 30 day process and expected to be disbursed in 7-8 working days, if approved.