Credit Rating Advisory
The full service across all 7 SEBI CRAs — every instrument and sector.
Explore credit rating advisory → The right rating, often at a subsidised cost.
SME & MSME Credit Rating Advisory
Most MSMEs pay for the wrong rating — or miss the government subsidy entirely. We help you get the right product (NSIC-subsidised, bank loan rating, or instrument rating) for your actual goal, prepared and managed by CAs and ex-bankers, across all 7 SEBI agencies. ₹4,250 Cr+ mobilised across 100+ mandates since 2011.
NSIC subsidy CA / ex-banker led All 7 SEBI CRAs
A track record since 2011, in numbers
~75%
NSIC rating-fee subsidy for MSEs₹4,250 Cr+
Capital mobilised across sectors100+
Deals advised end to end7
SEBI CRAs we advise acrossSince 2011
CA / ex-banker, senior on every fileThere are three different MSME rating products, and they are not interchangeable. Spending on an NSIC-scheme rating expecting it to unlock the bond market — or skipping the subsidy you were entitled to — are the two most common, costly mistakes. We get you the right one.
Which rating do you actually need?
Three MSME rating products, compared
The first job is choosing the right product for your goal — bank finance, a tender, or market borrowing. Here’s how they differ.
Product What it is Best for Cost
NSIC / PCRS ratingSubsidised WhatGovt-subsidised performance & credit rating for MSEs Best forBank negotiations, tenders, procurement Cost~75% fee subsidised
Bank loan rating (BLR) WhatStandard AAA–D rating of your bank facilities Best forLower risk weight, better loan terms Cost% of facility + surveillance
Bond / NCD / CP rating WhatInstrument rating for market borrowing Best forIssuing NCDs or commercial paper Cost% of issue + surveillance
The NSIC / Performance & Credit Rating Scheme subsidy is ~75% of the rating fee, with turnover-based ceilings (indicative — confirm current caps with NSIC before you budget). It is excellent for bank negotiations and tenders — but it is not a substitute for a bank loan rating or a bond rating. See credit rating cost in India.
What we own, end to end
From the right product to the rating letter
We pick the right rating for your goal, prepare the file, and manage the agency — so an SME gets a rating that reflects its real strengths.
01
Product & subsidy check
Decide between NSIC/PCRS, bank loan rating and instrument rating — and confirm your NSIC subsidy eligibility so you don’t overpay.
02
Agency selection
Shortlist the right empanelled CRA for your size and sector across all 7 SEBI agencies — see how they compare.
03
Rating-pack preparation
Financials and operations presented the way analysts assess MSMEs — order book, promoters, working-capital cycle, banking conduct.
04
Management discussion prep
We ready the promoter for the agency’s questions — often the difference between a fair rating and a conservative one for a small company.
05
Surveillance & renewal
We keep the rating current and protect against an “Issuer Not Cooperating” tag — the avoidable trap that downgrades healthy SMEs.
06
Rating → finance
We use the rating to negotiate better bank terms and, where it fits, arrange funding via corporate finance and supply chain finance.
Why MSMEs choose Finnova
Senior advisory, sized to an SME
You get partner-level attention — and an honest answer on which rating actually helps you.
01
The right product, not the priciest
We steer you to the subsidised NSIC rating or the BLR you actually need — not whatever earns the biggest fee.
02
CA + ex-banker led
People who know what banks and agencies look for in a small company. Named partner on the file.
03
INC protection
We manage your data submissions so a healthy MSME never gets force-downgraded into junk by accident.
04
Rating + finance
We turn the rating into cheaper bank lines and working capital — the outcome that actually matters.
Consultation
Find out which rating your MSME actually needs
One conversation tells you the right product, whether you qualify for the NSIC subsidy, and what the rating will do for your bank terms. No pitch — a straight read from senior people who own numbers for a living.
Thank you — your enquiry has been submitted
We’ve received your details. A senior member of our team will review them and get back to you within one business day. Everything you’ve shared stays strictly confidential.
FAQ
SME & MSME credit rating, answered
The NSIC Performance & Credit Rating Scheme (PCRS) is a government scheme under which empanelled agencies (CRISIL, CARE, ICRA, Acuité and others) rate micro and small enterprises on operational and financial parameters. The government subsidises around 75% of the rating fee, subject to turnover-based ceilings — making it the cheapest way for an MSME to get a recognised rating, useful for bank negotiations, tenders and procurement.
No — and confusing the two is the most common MSME mistake. The NSIC/PCRS rating uses a separate performance-and-credit scale and is mainly for bank negotiations and tenders. A bank loan rating (BLR) uses the standard AAA–D scale and feeds your bank’s Basel capital computation. A bond/NCD rating is different again. We help you get the right product for your actual goal.
Under the NSIC scheme the net cost is small because ~75% of the fee is subsidised (ceilings step up with turnover to roughly ₹40,000 for larger MSMEs). A standard bank loan rating is priced as a percentage of the facility with a minimum fee. We confirm the exact cost for your case before you commit.
A recognised rating gives banks an objective view of your creditworthiness, strengthens your negotiating position on rate and limit, and — for a bank loan rating — can lower the risk weight the bank holds against your loan. It also helps in government tenders and with larger buyers who check supplier credit.
Yes. The NSIC scheme is designed for micro and small enterprises, and bank loan ratings are routinely assigned to SMEs. The key is presenting your financials and operations clearly — which is exactly what we prepare.
A senior CA or ex-banker leads every mandate — you deal with the named partner directly, not a rotating bench of junior staff.
Further reading
Credit rating, explained in our Resources
What ratings cost, how they’re decided, and how to improve yours. For the full service, see credit rating advisory.