Updated on: Oct 12th, 2021
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5 min read
The Laghu Udhyami Credit Card (LUCC) is a credit card scheme of the Government of India to provide credit to small businesses, traders, village industries, handloom industries, small scale industries, tiny industries, self-employed individuals, and professionals.
A customer seeking a LUCC loan has to submit a duly completed loan application to the lending bank. The customer should provide:
The credit limits under LUCC are assessed as below:
The Laghu Udhyami Credit Card (LUCC) scheme by the Government of India offers credit to MSME sector borrowers with no collateral required, competitive interest rates, and flexible loan terms. Applicants must have a satisfactory record and can obtain up to Rs 10 lakh as working capital. Features include a 3-year loan tenure, different loan forms, and credit limits based on turnover or income. Documents required include proof of identity, address, and income.