This is a loan that has been pre-approved. The MLI will make an offer to eligible borrowers for a preapproved loan, which they can accept or reject. If the MSME accepts the offer, it will have to submit the necessary paperwork. As a result, qualified borrowers will be given a 'opt-out' option under the Scheme, i.e., if the borrower is not interested in taking out the loan, he or she may declare as such.