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MSME Loan schemes available in Meghalaya

Small and Medium Enterprises (SMEs) play a crucial role in any economy, and India is no exception. The sector contributes significantly to the country’s GDP, provides employment opportunities, and supports the growth of other industries. However, despite the potential of the MSME sector, access to finance remains a significant challenge for many entrepreneurs and small business owners. To address this issue, various state governments have introduced loan schemes that are specifically designed to support MSMEs in their respective states.

This blog will focus on the MSME loan in Meghalaya. We will provide a comprehensive overview of the various loan schemes available, including their eligibility criteria and application process.

Credit Linked Capital Subsidy Scheme (CLCSS)

Credit Linked Capital Subsidy Scheme was launched in October 2000 by the Government of India. This scheme provides necessary funds to MSMEs for upgrading their existing technologies. Enterprises can use this scheme to upgrade their existing plant and machinery and increase profit. This scheme has no upper loan limit, but the subsidy is calculated on the loan amount sanctioned for P&M purchase only. The following are its main features:

Loan amount No upper limit
Subsidy 15% of the loan amount
Annual guarantee fee 0.75%-1.0%
Loan tenure Flexible tenure depending upon the repayment capacity

Pradhan Mantri MUDRA Yojana (PMMY)

The Pradhan Mantri MUDRA Yojana (PMMY) is a flagship central government scheme launched in 2015. It provides micro-loans to non-corporate, non-farm micro and small enterprises in both rural and urban areas.

PMMY offers loans under three categories, depending on the stages of business growth and funding needs:

  • Shishu Mudra: Up to Rs. 50,000
  • Kishore Mudra: Rs. 50,001 to Rs. 5 lakh
  • Tarun Mudra: Rs. 5 lakh to Rs. 10 lakh

MUDRA loans are availed through various financial institutions, including Public sector banks, Private sector banks, Regional Rural Banks, Small Finance Banks, Microfinance Institutions, and Non-Banking Financial Companies (NBFCs).

Unlike other loan schemes, PMMY doesn’t have specific criteria for age, gender, tenure, interest rates, etc. All these factors can vary based on the category of the loan and the policies of the lending institution.

Prime Minister’s Employment Generation Programme (PMEGP)

PMEGP is a credit-linked subsidy scheme administered by the Ministry of Micro, Small and Medium Enterprises (MSME), which aims at creating job opportunities by establishing micro-enterprises. The main target of this scheme is Women, Traditional and prospective artisans and Unemployed youth. The following are some of its main features:

Age Minimum age of 18
Interest rate Between 11% -12% depending on the bank
Loan tenure 3-7 years
Education qualification VIII standard pass
Maximum Loan amount Rs. 1 Crore
Subsidy 15% to 35%

Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).

CGTMSE is a joint initiative launched in 2000 by the Ministry of Micro, Small and Medium Enterprises (MSME), the Government of India, and the Small Industries Development Bank of India (SIDBI). It encourages financial institutions to provide collateral-free credit schemes to micro and small enterprises. In case of any default, the bank can file a claim with CGTMSE. The following are some of its main features:

Loan amount Up to 5 crore
Collateral Not required
Loan tenure 5-10 years
Annual Guarantee fee 0.37%-1.35%
Age Minimum age of 18

Stand-up India

Stand-up India is a central government scheme launched in 2016. It provides bank loans for entrepreneurship among women and members of Scheduled Castes (SCs) and Scheduled Tribes (STs). Existing businesses cannot avail loans through this scheme, as these are provided for starting new businesses. These loans are provided through various banks, including scheduled commercial banks, regional rural banks (RRBs), and small finance banks.

This scheme provides loan amounts ranging from Rs. 10 lakhs to Rs. 1 crore. The interest rates and tenure vary depending on the nature of the business and other factors such as the nature of the business, credit policies of the lender, etc.

SIDBI Make in India Soft Loan Fund for Micro, Small, and Medium Enterprises (SMILE)

SMILE is a scheme launched by the central government to provide financial assistance to 25 Identified sectors under the ‘Make in India’ initiative. This scheme promotes the ‘Make in India’ initiative among entrepreneurs. SMILE provides adequate funding for the setting up of new enterprises and also for the expansion of existing ones. The following are some of its main features:

Loan tenure Maximum 10 years
Loan amount From Rs.10 lakhs to Rs.25 lakhs
Interest rates Depending on enterprises’ requirement
Nature of loan Quasi-equity and term loans

About Finline!

Finline is an online platform for creating financial reports for getting bank loans and investments. It’s like ‘Canva’ but for financials. If you are an entrepreneur looking for a bank loan, you must have a well-crafted project report. We, at Finline will help you with that. Our team will help you create a powerful business plan in ten minutes. That too in your language. All public and private sector banks working in India accept our project report. Click to create your report.

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MSMEs Loans available in Maharashtra

Maharashtra is one of the most industrialized states in India, with a thriving MSME sector that generates significant employment and contributes to the state’s GDP. The Maharashtra state government has implemented various loan schemes and policies to support the growth and development of MSMEs in the state. These schemes provide financial assistance, subsidies, tax incentives, and other necessary resources to entrepreneurs to establish and expand their businesses.

In recent years, the Maharashtra state government has focused on promoting entrepreneurship among women and SC/ST communities by launching several MSME loan schemes exclusively for them. These schemes aim to encourage and facilitate the participation of women and SC/ST entrepreneurs in the state’s economy by providing them with adequate financial support and other resources. In this blog, we will discuss some of the MSME loan schemes available in Maharashtra for women and SC/ST entrepreneurs.

MSME Loan Schemes Available in Maharashtra:

Maharashtra MSME Champions Scheme

The MSME Champions Scheme is an initiative launched by the Department of Industries, Government of Maharashtra, to provide financial assistance and other support services to high-potential MSMEs in the state. It aims to empower and accelerate the growth of these businesses, contributing significantly to the state’s economic development. Following are some of its highlights:

Loan amount Up to 50 Lakhs
Interest rates Based on MSME’s credit rating and turnover
Loan tenure 3-7 years
Minimum annual turnover Rs. 50 lakhs
Age Minimum age of 18

Chief Minister’s Employment Generation Programme (CMEGP) Maharashtra

Chief Minister’s employment generation programme is a scheme launched by the state government of Maharashtra. The main objective of the scheme is to make the youths of the state self-reliant by establishing self-employment opportunities across the state. The following are its main highlights:

Loan amount Up to 50 Lakhs
Rate of Margin Money Maximum 35% of project cost
Loan tenure Up to 5 years
Educational Qualification Minimum 7th pass
Age Between 18-45 years

Mahila Bachat Gat Yojana

The Mahila Bachat Gat Yojana is a scheme launched by the Maharashtra State Rural Livelihoods Mission (MSRLM) for women’s self-help groups. Registered SHGs with the Gram Panchayat or Zilla Parishad and participating in MSRLM programs are eligible for this scheme. Following are some of its benefits:

Loan amount Up to 1 lakh
Interest rate 7%
Loan tenure Up to 3 years
Margin money 5% of the project cost
Registration of SHG Mandatory

Credit Linked Capital Subsidy Scheme (CLCSS)

Credit Linked Capital Subsidy Scheme was launched in October 2000 by the Government of India. This scheme provides necessary funds to MSMEs for upgrading their existing technologies. Enterprises can use this scheme to upgrade their existing plant and machinery and increase profit. This scheme has no upper loan limit, but the subsidy is calculated on the loan amount sanctioned for P&M purchase only. The following are its main features:

Loan amount No upper limit
Subsidy 15% of the loan amount
Annual guarantee fee 0.75%-1.0%
Loan tenure Flexible tenure depending upon the repayment capacity

Pradhan Mantri MUDRA Yojana (PMMY)

The Pradhan Mantri MUDRA Yojana (PMMY) is a flagship central government scheme launched in 2015. It provides micro-loans to non-corporate, non-farm micro and small enterprises in both rural and urban areas.

PMMY offers loans under three categories, depending on the stages of business growth and funding needs:

  • Shishu Mudra: Up to Rs. 50,000
  • Kishore Mudra: Rs. 50,001 to Rs. 5 lakh
  • Tarun Mudra: Rs. 5 lakh to Rs. 10 lakh

MUDRA loans are availed through various financial institutions, including Public sector banks, Private sector banks, Regional Rural Banks, Small Finance Banks, Microfinance Institutions, and Non-Banking Financial Companies (NBFCs).

Unlike other loan schemes, PMMY doesn’t have specific criteria for age, gender, tenure, interest rates, etc. All these factors can vary based on the category of the loan and the policies of the lending institution.

Prime Minister’s Employment Generation Programme (PMEGP)

PMEGP is a credit-linked subsidy scheme administered by the Ministry of Micro, Small and Medium Enterprises (MSME), which aims at creating job opportunities by establishing micro-enterprises. The main target of this scheme is Women, Traditional and prospective artisans and Unemployed youth. The following are some of its main features:

Age Minimum age of 18
Interest rate Between 11% -12% depending on the bank
Loan tenure 3-7 years
Education qualification VIII standard pass
Maximum Loan amount Rs. 1 Crore
Subsidy 15% to 35%

Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).

CGTMSE is a joint initiative launched in 2000 by the Ministry of Micro, Small and Medium Enterprises (MSME), the Government of India, and the Small Industries Development Bank of India (SIDBI). It encourages financial institutions to provide collateral-free credit schemes to micro and small enterprises. In case of any default, the bank can file a claim with CGTMSE. The following are some of its main features:

Loan amount Up to 5 crore
Collateral Not required
Loan tenure 5-10 years
Annual Guarantee fee 0.37%-1.35%
Age Minimum age of 18

Stand-up India

Stand-up India is a central government scheme launched in 2016. It provides bank loans for entrepreneurship among women and members of Scheduled Castes (SCs) and Scheduled Tribes (STs). Existing businesses cannot avail loans through this scheme, as these are provided for starting new businesses. These loans are provided through various banks, including scheduled commercial banks, regional rural banks (RRBs), and small finance banks.

This scheme provides loan amounts ranging from Rs. 10 lakhs to Rs. 1 crore. The interest rates and tenure vary depending on the nature of the business and other factors such as the nature of the business, credit policies of the lender, etc.

SIDBI Make in India Soft Loan Fund for Micro, Small, and Medium Enterprises (SMILE)

SMILE is a scheme launched by the central government to provide financial assistance to 25 Identified sectors under the ‘Make in India’ initiative. This scheme promotes the ‘Make in India’ initiative among entrepreneurs. SMILE provides adequate funding for the setting up of new enterprises and also for the expansion of existing ones. The following are some of its main features:

Loan tenure Maximum 10 years
Loan amount From Rs.10 lakhs to Rs.25 lakhs
Interest rates Depending on enterprises’ requirement
Nature of loan Quasi-equity and term loans

About Finline!

Finline is an online platform for creating financial reports for getting bank loans and investments. It’s like ‘Canva’ but for financials. If you are an entrepreneur looking for a bank loan, you must have a well-crafted project report. We, at Finline will help you with that. Our team will help you create a powerful business plan in ten minutes. That too in your language. All public and private sector banks working in India accept our project report. Click to create your report.

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MSME Loan Schemes available in Madhya Pradesh

Madhya Pradesh is one of the fastest-growing states in India, with a strong emphasis on the development of Micro, Small, and Medium Enterprises (MSMEs). The state government has launched several loan schemes to provide financial assistance to MSMEs in the region. These schemes are aimed at promoting entrepreneurship, generating employment opportunities, and accelerating the economic growth of the state. In this blog, we will discuss some of the MSME loan schemes available in Madhya Pradesh, along with their eligibility criteria, benefits, and state or central schemes. We will also discuss how Finline’s project report service can help entrepreneurs in Madhya Pradesh to avail of these loan schemes and start or expand their businesses.

Madhya Pradesh State Finance Corporation (MPSFC) MSME Term Loan Scheme

The Madhya Pradesh State Finance Corporation (MPSFC) offers term loans to MSMEs for the purchase of machinery and equipment, working capital, and expansion of existing units. The following are the eligibility criteria for the scheme:

Loan amount Up to 2 crore
Collateral Required
Loan tenure 5-8 years
Interest rates 10.25%-14.25%
Age Minimum age of 18

Mukhya Mantri Yuva Udyami Yojana (MMYUY)

The Mukhya Mantri Yuva Udyami Yojana (MMYUY) provides financial assistance to young entrepreneurs for setting up new enterprises in the manufacturing, service, and trading sectors. The scheme provides financial assistance in the form of loans and subsidies to eligible candidates to set up their businesses. The following are the eligibility criteria for the scheme:

Loan amount Up to 2 crore
Educational qualification Minimum 10th
Loan tenure Up to 7 years
Subsidy Up to 15% on the capital investment in plant and machinery
Age Between 18 and 40 years of age

Mukhya Mantri Swarojgar Yojana (MMSY)

The Mukhya Mantri Swarojgar Yojana (MMSY) is a state government initiative launched by the state government of Madhya Pradesh. The main objective of the scheme is to reduce the unemployment of the state by providing collateral-free loans to its unemployed youth. Following are some of its highlights:

Loan amount Up to 10 lakhs
Collateral Not required up to 2 lakhs
Loan tenure 84 months
Subsidy 15% on the capital investment in plant and machinery up to 30,000
Age Between 18 and 65 years of age 

Credit Linked Capital Subsidy Scheme (CLCSS)

Credit Linked Capital Subsidy Scheme was launched in October 2000 by the Government of India. This scheme provides necessary funds to MSMEs for upgrading their existing technologies. Enterprises can use this scheme to upgrade their existing plant and machinery and increase profit. This scheme has no upper loan limit, but the subsidy is calculated on the loan amount sanctioned for P&M purchase only. The following are its main features:

Loan amount No upper limit
Subsidy 15% of the loan amount
Annual guarantee fee 0.75%-1.0%
Loan tenure Flexible tenure depending upon the repayment capacity

Pradhan Mantri MUDRA Yojana (PMMY)

The Pradhan Mantri MUDRA Yojana (PMMY) is a flagship central government scheme launched in 2015. It provides micro-loans to non-corporate, non-farm micro and small enterprises in both rural and urban areas.

PMMY offers loans under three categories, depending on the stages of business growth and funding needs:

  • Shishu Mudra: Up to Rs. 50,000
  • Kishore Mudra: Rs. 50,001 to Rs. 5 lakh
  • Tarun Mudra: Rs. 5 lakh to Rs. 10 lakh

MUDRA loans are availed through various financial institutions, including Public sector banks, Private sector banks, Regional Rural Banks, Small Finance Banks, Microfinance Institutions, and Non-Banking Financial Companies (NBFCs).

Unlike other loan schemes, PMMY doesn’t have specific criteria for age, gender, tenure, interest rates, etc. All these factors can vary based on the category of the loan and the policies of the lending institution.

Prime Minister’s Employment Generation Programme (PMEGP)

PMEGP is a credit-linked subsidy scheme administered by the Ministry of Micro, Small and Medium Enterprises (MSME), which aims at creating job opportunities by establishing micro-enterprises. The main target of this scheme is Women, Traditional and prospective artisans and Unemployed youth. The following are some of its main features:

Age Minimum age of 18
Interest rate Between 11% -12% depending on the bank
Loan tenure 3-7 years
Education qualification VIII standard pass
Maximum Loan amount Rs. 1 Crore
Subsidy 15% to 35%

Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).

CGTMSE is a joint initiative launched in 2000 by the Ministry of Micro, Small and Medium Enterprises (MSME), the Government of India, and the Small Industries Development Bank of India (SIDBI). It encourages financial institutions to provide collateral-free credit schemes to micro and small enterprises. In case of any default, the bank can file a claim with CGTMSE. The following are some of its main features:

Loan amount Up to 5 crore
Collateral Not required
Loan tenure 5-10 years
Annual Guarantee fee 0.37%-1.35%
Age Minimum age of 18

Stand-up India

Stand-up India is a central government scheme launched in 2016. It provides bank loans for entrepreneurship among women and members of Scheduled Castes (SCs) and Scheduled Tribes (STs). Existing businesses cannot avail loans through this scheme, as these are provided for starting new businesses. These loans are provided through various banks, including scheduled commercial banks, regional rural banks (RRBs), and small finance banks.

This scheme provides loan amounts ranging from Rs. 10 lakhs to Rs. 1 crore. The interest rates and tenure vary depending on the nature of the business and other factors such as the nature of the business, credit policies of the lender, etc.

SIDBI Make in India Soft Loan Fund for Micro, Small, and Medium Enterprises (SMILE)

SMILE is a scheme launched by the central government to provide financial assistance to 25 Identified sectors under the ‘Make in India’ initiative. This scheme promotes the ‘Make in India’ initiative among entrepreneurs. SMILE provides adequate funding for the setting up of new enterprises and also for the expansion of existing ones. The following are some of its main features:

Loan tenure Maximum 10 years
Loan amount From Rs.10 lakhs to Rs.25 lakhs
Interest rates Depending on enterprises’ requirement
Nature of loan Quasi-equity and term loans

About Finline!

Finline is an online platform for creating financial reports for getting bank loans and investments. It’s like ‘Canva’ but for financials. If you are an entrepreneur looking for a bank loan, you need to have a well-crafted project report. We, at Finline will help you with that. Our team will help you create a powerful business plan in ten minutes. That too in your language. All public and private sector banks working in India accept our project report. Click to create your report.

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MSME Loan Schemes Available in Kerala

Kerala is one of the most progressive states in India, and its government has always been at the forefront of promoting entrepreneurship and supporting MSMEs. To help entrepreneurs start and grow their businesses, the state government has launched several loan schemes that provide financial assistance to MSMEs. In this blog, we’ll take a look at some of the most popular loan schemes available for MSMEs in Kerala.

Kerala Financial Corporation (KFC) MSME Term Loan Scheme

The Kerala Financial Corporation (KFC) offers a term loan scheme to help entrepreneurs with long-term financial needs of industry and industry-related projects. This loan scheme is specifically designed to support micro, small and medium enterprises (MSMEs) in Kerala. The following are its main highlights:

Loan amount Up to 50 crore
Collateral Required
Loan tenure 3-10 years
Minimum credit rating 40%
Age Minimum age of 18

Kerala Financial Corporation (KFC) MSME Working Capital Loan Scheme

The Kerala Financial Corporation (KFC) also offers a working capital loan scheme that helps in managing MSME’s day-to-day operational expenses. Working capital loans can support businesses to become more focused on their growth and generate capital. The following are its main highlights:

Loan amount Up to 5 crore
Promoters Contribution 25%
Loan tenure Within 72 months
Minimum credit rating 40%
Age Minimum age of 18

Kerala State Industrial Development Corporation (KSIDC) Seed Funding Loan Scheme

The Kerala State Industrial Development Corporation (KSIDC) provides financial assistance to entrepreneurs and MSMEs. Through this scheme, KSIDC aims to provide seed fund assistance to innovative start-up ventures. The following are its main highlights:

Loan amount Up to Rs. 25 lakh, or 90% of project cost (whichever is lower)
Interest rate 6.50% (bank rate as of date of sanction)
Loan tenure Up to 3 years
Loan Type Soft loan
Age Minimum age of 18

Kerala State Backward Classes Development Corporation (KSBDC) Scheme

The KSBDC provides financial assistance to MSMEs belonging to the backward classes in Kerala in the form Self-Employment Loan Scheme.  The scheme is available to both new and existing MSMEs in Kerala. It is provided by KSBDC in partnership with the National Minorities Development and Finance Corporation (NMDFC). The following are its main highlights:

Loan amount Up to Rs. 30 lakh
Interest rate 6%-8%
Loan tenure Up to 60 months
Annual Income  Below Rs. 8,00,000
Age Between the age 18 and 55

Credit Linked Capital Subsidy Scheme (CLCSS)

Credit Linked Capital Subsidy Scheme was launched in October 2000 by the Government of India. This scheme provides necessary funds to MSMEs for upgrading their existing technologies. Enterprises can use this scheme to upgrade their existing plant and machinery and increase profit. This scheme has no upper loan limit, but the subsidy is calculated on the loan amount sanctioned for P&M purchase only. The following are its main features:

Loan amount No upper limit
Subsidy 15% of the loan amount
Annual guarantee fee 0.75%-1.0%
Loan tenure Flexible tenure depending upon the repayment capacity

Pradhan Mantri MUDRA Yojana (PMMY)

The Pradhan Mantri MUDRA Yojana (PMMY) is a flagship central government scheme launched in 2015. It provides micro-loans to non-corporate, non-farm micro and small enterprises in both rural and urban areas.

PMMY offers loans under three categories, depending on the stages of business growth and funding needs:

  • Shishu Mudra: Up to Rs. 50,000
  • Kishore Mudra: Rs. 50,001 to Rs. 5 lakh
  • Tarun Mudra: Rs. 5 lakh to Rs. 10 lakh

MUDRA loans are availed through various financial institutions, including Public sector banks, Private sector banks, Regional Rural Banks, Small Finance Banks, Microfinance Institutions, and Non-Banking Financial Companies (NBFCs).

Unlike other loan schemes, PMMY doesn’t have specific criteria for age, gender, tenure, interest rates, etc. All these factors can vary based on the category of the loan and the policies of the lending institution.

Prime Minister’s Employment Generation Programme (PMEGP)

PMEGP is a credit-linked subsidy scheme administered by the Ministry of Micro, Small and Medium Enterprises (MSME), which aims at creating job opportunities by establishing micro-enterprises. The main target of this scheme is Women, Traditional and prospective artisans and Unemployed youth. The following are some of its main features:

Age Minimum age of 18
Interest rate Between 11% -12% depending on the bank
Loan tenure 3-7 years
Education qualification VIII standard pass
Maximum Loan amount Rs. 1 Crore
Subsidy 15% to 35%

Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).

CGTMSE is a joint initiative launched in 2000 by the Ministry of Micro, Small and Medium Enterprises (MSME), the Government of India, and the Small Industries Development Bank of India (SIDBI). It encourages financial institutions to provide collateral-free credit schemes to micro and small enterprises. In case of any default, the bank can file a claim with CGTMSE. The following are some of its main features:

Loan amount Up to 5 crore
Collateral Not required
Loan tenure 5-10 years
Annual Guarantee fee 0.37%-1.35%
Age Minimum age of 18

Stand-up India

Stand-up India is a central government scheme launched in 2016. It provides bank loans for entrepreneurship among women and members of Scheduled Castes (SCs) and Scheduled Tribes (STs). Existing businesses cannot avail loans through this scheme, as these are provided for starting new businesses. These loans are provided through various banks, including scheduled commercial banks, regional rural banks (RRBs), and small finance banks.

This scheme provides loan amounts ranging from Rs. 10 lakhs to Rs. 1 crore. The interest rates and tenure vary depending on the nature of the business and other factors such as the nature of the business, credit policies of the lender, etc.

SIDBI Make in India Soft Loan Fund for Micro, Small, and Medium Enterprises (SMILE)

SMILE is a scheme launched by the central government to provide financial assistance to 25 Identified sectors under the ‘Make in India’ initiative. This scheme promotes the ‘Make in India’ initiative among entrepreneurs. SMILE provides adequate funding for the setting up of new enterprises and also for the expansion of existing ones. The following are some of its main features:

Loan tenure Maximum 10 years
Loan amount From Rs.10 lakhs to Rs.25 lakhs
Interest rates Depending on enterprises’ requirement
Nature of loan Quasi-equity and term loans

About Finline!

Finline is an online platform for creating financial reports for getting bank loans and investments. It’s like ‘Canva’ but for financials. If you are an entrepreneur looking for a bank loan, you need to have a well-crafted project report. We, at Finline will help you with that. Our team will help you create a powerful business plan in ten minutes. That too in your language. All public and private sector banks working in India accept our project report. Click to create your report.

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MSME Loan schemes available in Karnataka

 Karnataka has been at the forefront of promoting MSMEs in the country. It is one of the most industrially advanced states in India, with a strong focus on the development of the MSME sector. To encourage entrepreneurship, the government of Karnataka has introduced several loan schemes for MSMEs. These schemes provide financial assistance and support to MSMEs to start, expand, or upgrade their businesses. In this blog, we will discuss some of the loan schemes available for MSMEs in Karnataka.

Karnataka State Finance Corporation (KSFC) Scheme

KSFC provides financial assistance to MSMEs through various loan schemes. They offer term loans, working capital loans, and loans for setting up new businesses or expanding existing ones. The scheme is available for all categories of entrepreneurs, including women, SC/ST, and minorities. The following are some of its highlights:

Loan amount Up to 8 crore
Collateral Required
Loan tenure 3-8 years
Processing fee 0.50%+ Service Tax
Promoters Contribution Between 10% and 22.5%

Karnataka Small Scale Industries Development Corporation (KSSIDC) Loan Scheme:

The Karnataka Small Scale Industries Development Corporation (KSSIDC) offers loans to MSMEs for the establishment, expansion, and modernization of their businesses. The scheme is open to all eligible MSMEs in Karnataka, including women entrepreneurs. The following are its main highlights:

Loan amount 5 lakh to 5 crore
Interest rates 9.5% to 11.5%
Loan tenure Up to 7 years
Age Minimum age of 18
Promoters Contribution Between 15% and 25% of the project cost

Shramashakthi scheme MSME loan Karnataka

Shramashakthi is a Karnataka state government MSME loan scheme launched under the Karnataka Minorities Development Corporation. This scheme was launched to support the religious minorities in the state through training and financial assistance. The following are some of its highlights:

Loan amount Up to 50,000
Interest rates 4%
Loan tenure 36 months
Residency Permanent resident of Karnataka
Age Between 18 and 55 years of age

Credit Linked Capital Subsidy Scheme (CLCSS)

Credit Linked Capital Subsidy Scheme was launched in October 2000 by the Government of India. This scheme provides necessary funds to MSMEs for upgrading their existing technologies. Enterprises can use this scheme to upgrade their existing plant and machinery and increase profit. This scheme has no upper loan limit, but the subsidy is calculated on the loan amount sanctioned for P&M purchase only. The following are its main features:

Loan amount No upper limit
Subsidy 15% of the loan amount
Annual guarantee fee 0.75%-1.0%
Loan tenure Flexible tenure depending upon the repayment capacity

Pradhan Mantri MUDRA Yojana (PMMY)

The Pradhan Mantri MUDRA Yojana (PMMY) is a flagship central government scheme launched in 2015. It provides micro-loans to non-corporate, non-farm micro and small enterprises in both rural and urban areas.

PMMY offers loans under three categories, depending on the stages of business growth and funding needs:

  • Shishu Mudra: Up to Rs. 50,000
  • Kishore Mudra: Rs. 50,001 to Rs. 5 lakh
  • Tarun Mudra: Rs. 5 lakh to Rs. 10 lakh

MUDRA loans are availed through various financial institutions, including Public sector banks, Private sector banks, Regional Rural Banks, Small Finance Banks, Microfinance Institutions, and Non-Banking Financial Companies (NBFCs).

Unlike other loan schemes, PMMY doesn’t have specific criteria for age, gender, tenure, interest rates, etc. All these factors can vary based on the category of the loan and the policies of the lending institution.

Prime Minister’s Employment Generation Programme (PMEGP)

PMEGP is a credit-linked subsidy scheme administered by the Ministry of Micro, Small and Medium Enterprises (MSME), which aims at creating job opportunities by establishing micro-enterprises. The main target of this scheme is Women, Traditional and prospective artisans and Unemployed youth. The following are some of its main features:

Age Minimum age of 18
Interest rate Between 11% -12% depending on the bank
Loan tenure 3-7 years
Education qualification VIII standard pass
Maximum Loan amount Rs. 1 Crore
Subsidy 15% to 35%

Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).

CGTMSE is a joint initiative launched in 2000 by the Ministry of Micro, Small and Medium Enterprises (MSME), the Government of India, and the Small Industries Development Bank of India (SIDBI). It encourages financial institutions to provide collateral-free credit schemes to micro and small enterprises. In case of any default, the bank can file a claim with CGTMSE. The following are some of its main features:

Loan amount Up to 5 crore
Collateral Not required
Loan tenure 5-10 years
Annual Guarantee fee 0.37%-1.35%
Age Minimum age of 18

Stand-up India

Stand-up India is a central government scheme launched in 2016. It provides bank loans for entrepreneurship among women and members of Scheduled Castes (SCs) and Scheduled Tribes (STs). Existing businesses cannot avail loans through this scheme, as these are provided for starting new businesses. These loans are provided through various banks, including scheduled commercial banks, regional rural banks (RRBs), and small finance banks.

This scheme provides loan amounts ranging from Rs. 10 lakhs to Rs. 1 crore. The interest rates and tenure vary depending on the nature of the business and other factors such as the nature of the business, credit policies of the lender, etc.

SIDBI Make in India Soft Loan Fund for Micro, Small, and Medium Enterprises (SMILE)

SMILE is a scheme launched by the central government to provide financial assistance to 25 Identified sectors under the ‘Make in India’ initiative. This scheme promotes the ‘Make in India’ initiative among entrepreneurs. SMILE provides adequate funding for the setting up of new enterprises and also for the expansion of existing ones. The following are some of its main features:

Loan tenure Maximum 10 years
Loan amount From Rs.10 lakhs to Rs.25 lakhs
Interest rates Depending on enterprises’ requirement
Nature of loan Quasi-equity and term loans

About Finline!

Finline is an online platform for creating financial reports for getting bank loans and investments. It’s like ‘Canva’ but for financials. If you are an entrepreneur looking for a bank loan, you need to have a well-crafted project report. We, at Finline will help you with that. Our team will help you create a powerful business plan in ten minutes. That too in your language. All public and private sector banks working in India accept our project report. Click to create your report.

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Loan Schemes for MSMEs In Jharkhand

 

 

Jharkhand is a state in eastern India that is known for its rich mineral resources and diverse culture. With the growth of the MSME sector in the state, the Jharkhand government has implemented various schemes to support the growth of small businesses in the state. In this article, we have discussed some of the most popular loan schemes available for micro and small businesses in Jharkhand. These schemes are designed to provide financial assistance to entrepreneurs from diverse social backgrounds and industry profiles. Some schemes are specifically targeted at women entrepreneurs and those from the SC/ST community.

  1. Mukhyamantri Laghu and Kutir Udyam Vikas Board
Scheme Name Mukhyamantri Laghu and Kutir Udyam Vikas Board
Description: The Mukhyamantri Laghu and Kutir Udyam Vikas Board is a scheme launched by the Jharkhand state government to provide financial assistance to micro and small businesses in the state. The scheme offers various incentives, including interest subsidy, capital subsidy, and a subsidy on the cost of plant and machinery.
Eligibility Criteria:
Gender: Male/Female
Age: 18-60 years
Education: Not specified
Social Background: All
Industry Profile: Manufacturing, Service and Business enterprises
Area: Rural/Urban
Benefits: Interest subsidy of 6-8%, capital subsidy of 10-25%, subsidy on the cost of plant and machinery up to 25%.
Government: State Government
State: Jharkhand

 

2. Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE)

 

Scheme Name Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE)
Description: The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) provides collateral-free credit to MSMEs by guaranteeing up to 85% of the loan amount. Under this scheme, eligible MSMEs can avail of loans up to Rs. 2 crore from banks or other financial institutions without the need for collateral or third-party guarantee.
Eligibility Criteria:
Gender: All
Age: Not specified
Education: Not specified
Social Background: All
Industry Profile: Manufacturing, Service and Business enterprises
Area: Rural/Urban
Benefits: Collateral-free credit up to Rs. 2 crore from banks or other financial institutions without the need for collateral or third-party guarantee.
Government: Central Government
State:  Pan India

3.  Jharkhand Industrial Investment Promotion Policy 2016

Scheme Name Jharkhand Industrial Investment Promotion Policy 2016
Description: The Jharkhand Industrial Investment Promotion Policy 2016 aims to attract investment in the state and promote industrial growth. Under this scheme, eligible MSMEs can avail of various incentives and subsidies, including interest subsidy, capital subsidy, land acquisition subsidy, power subsidy, and exemption from certain taxes and duties.
Eligibility Criteria:
Gender: Male/Female
Age: Not specified
Education: Not specified
Social Background: All
Industry Profile: Manufacturing, Service and Business enterprises
Area: Rural/Urban
Benefits: Interest subsidy, capital subsidy, land acquisition subsidy, power subsidy, and exemption from certain taxes and duties.
Government: State Government
State: Jharkhand

4. Jharkhand State Minorities Finance and Development Corporation Loan Scheme for Women Entrepreneurs

Scheme Name Jharkhand State Minorities Finance and Development Corporation Loan Scheme for Women Entrepreneurs
Description: The Jharkhand State Minorities Finance and Development Corporation Loan Scheme for Women Entrepreneurs is a scheme launched by the Jharkhand state government to provide financial assistance to women entrepreneurs from minority communities. Under this scheme, eligible women entrepreneurs can avail of loans up to Rs. 25 lakh at a subsidized interest rate.
Eligibility Criteria:
Gender: Female
Age: Not specified
Education: Not specified
Social Background: Minority communities
Industry Profile: Manufacturing, Service and Business enterprises
Area: Rural/Urban
Benefits: Loans up to Rs. 25 lakh at a subsidized interest rate.
Government: State Government
State: Jharkhand

5. Jharkhand State Scheduled Castes Cooperative Finance and Development Corporation

 

Scheme Name Jharkhand State Scheduled Castes Cooperative Finance and Development Corporation
Description: The Jharkhand State Scheduled Castes Cooperative Finance and Development Corporation is a scheme launched by the Jharkhand state government to provide financial assistance to SC entrepreneurs in the state. Under this scheme, eligible SC entrepreneurs can avail of loans up to Rs. 50 lakh at a subsidized interest rate.
Eligibility Criteria:
Gender: All
Age: Not specified
Education: Not specified
Social Background: Scheduled Castes
Industry Profile: Manufacturing, Service and Business enterprises
Area: Rural/Urban
Benefits: Loans up to Rs. 50 lakh at a subsidized interest rate.
Government: State Government
State: Jharkhand

6. Jharkhand State Women Development Corporation

 

Scheme Name Jharkhand State Women Development Corporation
Description: The Jharkhand State Women Development Corporation is a scheme launched by the Jharkhand state government to promote women entrepreneurship and provide financial assistance to women entrepreneurs in the state. Under this scheme, eligible women entrepreneurs can avail of loans up to Rs. 10 lakh at a subsidized interest rate.
Eligibility Criteria:
Gender: Female
Age: Not specified
Education: Not specified
Social Background: All
Industry Profile: Manufacturing, Service and Business enterprises
Area: Rural/Urban
Benefits: Loans up to Rs. 10 lakh at a subsidized interest rate.
Government: State Government
State: Jharkhand

7. Jharkhand State Scheduled Tribes Cooperative Finance and Development Corporation

Scheme Name Jharkhand State Scheduled Tribes Cooperative Finance and Development Corporation
Description: The Jharkhand State Scheduled Tribes Cooperative Finance and Development Corporation is a scheme launched by the Jharkhand state government to provide financial assistance to ST entrepreneurs in the state. Under this scheme, eligible ST entrepreneurs can avail of loans up to Rs. 50 lakh at a subsidized interest rate.
Eligibility Criteria:
Gender: All
Age: Not specified
Education: Not specified
Social Background: Scheduled Tribes
Industry Profile: Manufacturing, Service and Business enterprises
Area: Rural/Urban
Benefits: Loans up to Rs. 50 lakh at a subsidized interest rate.
Government: State Government
State: Jharkhand

 

Overall, these loan schemes can help entrepreneurs in Jharkhand to overcome financial barriers and take their businesses to the next level. By providing access to affordable credit, these schemes can help to stimulate economic growth and create employment opportunities in the state.

 

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Loan schemes available for MSMEs in Jammu & Kashmir 

 

Jammu and Kashmir is a union territory that is home to a large number of micro, small, and medium enterprises (MSMEs). The government of Jammu and Kashmir has implemented several loan schemes to support the growth and development of these enterprises. In this blog, we will discuss some of the most popular loan schemes available for MSMEs in Jammu and Kashmir.

  • J&K Entrepreneurship Development Institute (JKEDI) Loan Scheme:

This loan scheme is initiated by the Jammu and Kashmir government’s Entrepreneurship Development Institute (JKEDI). Under this scheme, entrepreneurs can get loans up to Rs. 50 lakhs to establish or expand their businesses. The scheme is available to all categories of entrepreneurs and requires them to submit a detailed project report to avail the loan.

Scheme Name Gender Qualification Age Group Social Category Industry Profile Rural/Urban State Govt/Central Govt
JKEDI Loan Scheme Male/Female NA NA NA MSMEs Both State Govt

  • National Small Industries Corporation (NSIC) Loan Scheme:

The NSIC loan scheme is available for MSMEs in Jammu and Kashmir. The scheme provides financial assistance in the form of loans and credit facilities for starting and expanding small businesses. Under the scheme, MSMEs can get loans up to Rs. 50 lakhs, and the interest rate varies depending on the business’s creditworthiness.

Scheme Name Gender Qualification Age Group Social Category Industry Profile Rural/Urban State Govt/Central Govt
NSIC Loan Scheme Male/Female NA NA NA MSMEs Both Central Govt

 

  1. Jammu and Kashmir Bank Loan Scheme:

The Jammu and Kashmir Bank offers a range of loan schemes for MSMEs, including term loans, working capital loans, and equipment loans. The bank provides loans up to Rs. 5 crores, and the interest rate is based on the business’s creditworthiness and the type of loan availed.

Scheme Name Gender Qualification Age Group Social Category Industry Profile Rural/Urban State Govt/Central Govt
J&K Bank Loan Scheme Male/Female NA NA NA MSMEs Both State Govt

  • Seed Capital Fund Scheme

Under this scheme, the Jammu & Kashmir State Financial Corporation (SFC) provides seed capital to new enterprises with a maximum loan amount of up to Rs. 50 lakhs. The scheme is aimed at encouraging first-generation entrepreneurs and promoting the growth of MSMEs in the state. The loan can be used for acquiring land, machinery, equipment, working capital, and other purposes. The scheme is available for all eligible individuals and enterprises in both urban and rural areas of Jammu & Kashmir.

Scheme name Gender Qualification Age group Social category Industry profile Rural / Urban State govt/Central Govt
Seed Capital Fund Scheme Any Not specified Up to 50 years Not specified Innovative MSME projects Both State govt

  • Credit Linked Capital Subsidy Scheme (CLCSS)

The Credit Linked Capital Subsidy Scheme aims to provide capital investment subsidies to eligible MSMEs for upgrading and modernizing their production equipment and technology. The scheme is open to all eligible MSMEs in Jammu & Kashmir. Under this scheme, eligible enterprises can avail of a 15% capital subsidy on their investment in plant and machinery, subject to a maximum of Rs. 15 lakhs. The scheme is available for both urban and rural MSMEs in Jammu & Kashmir.

Scheme Name Gender Qualification Age Group Social Category Industry Profile Rural/Urban State Govt./Central Govt.
Credit Linked Capital Subsidy Scheme (CLCSS) Any Not specified Not specified Not specified All industries Rural/Urban Central Govt.

 

  1. Mahila Udyam Nidhi Scheme:  

 

This scheme aims to provide financial assistance to women entrepreneurs in Jammu and Kashmir to start or expand their own micro or small enterprise. Under the scheme, the maximum loan amount is Rs. 10 lakhs, and the interest rate is up to 9.35%. The repayment period can be up to 10 years, and collateral security is not required for loans up to Rs. 2 lakhs.

Scheme Name Gender Qualification Age Group Social Category Industry Profile Rural/Urban State/Central Govt
Mahila Udyam Nidhi Scheme Women 8th standard pass 18 – 55 years All categories All industries Rural/Urban Central Govt

  • Anusuchit Jati Shiksha Udyami Yojana: 

This scheme is aimed at providing financial assistance to SC/ST entrepreneurs in Jammu and Kashmir to start their own business in the education sector. Under the scheme, the maximum loan amount is Rs. 15 lakhs, and the interest rate is up to 6%. The repayment period can be up to 7 years, and collateral security is not required for loans up to Rs. 2 lakhs.

 

Scheme Name Gender Qualification Age Group Social Category Industry Profile Rural/Urban State/Central Govt
Anusuchit Jati Shiksha Udyami Yojana SC/ST 10th standard pass 18 – 50 years All categories Education industry Rural/Urban State Govt

  • Mahila Shakti Kendra Scheme: 

 

This scheme aims to empower women in rural areas of Jammu and Kashmir by providing them with opportunities to start their own business. Under the scheme, financial assistance is provided for the establishment of small enterprises, and training and skill development programs are organized for women. The scheme also focuses on creating awareness about government programs and schemes that can benefit women entrepreneurs

Scheme Name Gender Qualification Age Group Social Category Industry Profile Rural/Urban State/Central Govt
Mahila Shakti Kendra Scheme Women Any 18 – 45 years All categories All industries Rural Central Govt

  • Anusuchit Jaati Nai Roshni Yojana: 

This scheme aims to promote entrepreneurship among SC/ST women in Jammu and Kashmir. Under the scheme, financial assistance is provided for setting up micro and small enterprises, and training and skill development programs are organized for women. The maximum loan amount is Rs. 5 lakhs, and the interest rate is up to 6%.

Scheme Name Gender Qualification Age Group Social Category Industry Profile Rural/Urban State/Central Govt
Anusuchit Jaati Nai Roshni Yojana Women Any 18 – 50 years SC/ST All industries Rural/Urban State Govt

 

At Finline, we understand the importance of a well-prepared project report for MSMEs and entrepreneurs. Our project report creation service can help them in availing loans easily by creating a comprehensive and professional report that meets the requirements of various lending institutions. Our team of experts can provide assistance in preparing project reports for various schemes mentioned above and many others.

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Loan for MSMEs in Himanchal Pradesh

 

Himachal Pradesh is a state in northern India known for its scenic beauty and diverse industries. The state has a significant number of Micro, Small and Medium Enterprises (MSMEs) that contribute to its economic growth. To support the growth of these MSMEs, the Himachal Pradesh government has launched various loan schemes. These schemes provide financial assistance to MSMEs to start, expand or modernize their businesses. In this blog, we will discuss some of the major MSME loan schemes available in Himachal Pradesh, their eligibility criteria, benefits, and whether they are state or central government initiatives.

  • Scheme Name: Mukhya Mantri Swavlamban Yojana (MMSY)

Description: 

This scheme provides financial assistance to start-ups and existing MSMEs in Himachal Pradesh. Under this scheme, the state government provides a loan of up to Rs. 30 lakhs with a subsidy of 25% on the loan amount. The loan is repayable in five years with a moratorium period of one year.

Eligibility Criteria:

Scheme Name Age Educational Qualification Gender Urban/Rural Industry Profile Social Category Benefits State/Central Scheme
MMSY 18-50 years Minimum 10th pass All Rural/Urban All MSMEs All Loan up to Rs. 30 lakhs with a subsidy of 25% on the loan amount State Scheme

  • Scheme Name: Mukhya Mantri Yuva Ajivika Yojana (MMYAY)

Description: 

This scheme provides financial assistance to unemployed youth to start their own MSMEs in Himachal Pradesh. Under this scheme, the state government provides a loan of up to Rs. 30 lakhs with a subsidy of 25% on the loan amount. The loan is repayable in five years with a moratorium period of one year.

Scheme Name Age Educational Qualification Gender Urban/Rural Industry Profile Social Category Benefits State/Central Scheme
MMYAY 18-45 years Minimum 10th pass All Rural/Urban All MSMEs All Loan up to Rs. 30 lakhs with a subsidy of 25% on the loan amount State Scheme

  • Scheme Name: Prime Minister’s Employment Generation Programme (PMEGP)

Description: 

PMEGP is a credit-linked subsidy programme for MSMEs implemented by the Ministry of MSMEs, Government of India. Under this scheme, the state government provides a subsidy of 25% to 35% for projects costing up to Rs. 25 lakhs.

Eligibility Criteria

 

Scheme Name Age Educational Qualification Gender Urban/Rural Industry Profile Social Category Benefits State/Central Scheme
PMEGP 18 years and above Minimum 8th pass All Rural/Urban All MSMEs All Subsidy of 25% to 35% for projects costing up to Rs. 25 lakhs Central Scheme

  • Scheme Name: Udyogini Scheme

Description: 

Udyogini Scheme provides financial assistance to women entrepreneurs to set up their own MSMEs in Himachal Pradesh. Under this scheme, the state government provides a loan of up to Rs. 1 lakh with a subsidy of 30% on the loan amount.

Scheme Name Age Educational Qualification Gender Urban/Rural Industry Profile Social Category Benefits State/Central Scheme
Udyogini Scheme 18-55 years Minimum 8th pass Women Rural/Urban All MSMEs All Loan up to Rs. 1 lakh with a subsidy of 30% on the loan amount State Scheme

  • Scheme Name: Swarnima Yojana

Description: 

Swarnima Yojana is a scheme for the empowerment of women in Himachal Pradesh. Under this scheme, the state government provides a loan of up to Rs. 50,000 to women entrepreneurs to start their own MSMEs. The loan is repayable in five years with a moratorium period of six months.

Eligibility Criteria:

Scheme Name Age Educational Qualification Gender Urban/Rural Industry Profile Social Category Benefits State/Central Scheme
Swarnima Yojana 18-55 years Minimum 8th pass Women Rural/Urban All MSMEs All Loan up to Rs. 50,000 to women entrepreneurs State Scheme

  • Scheme Name: Mukhya Mantri Swavlamban Yojana

Description: 

Mukhya Mantri Swavlamban Yojana is a scheme aimed at providing financial assistance to the youth of Himachal Pradesh who want to start their own MSMEs. Under this scheme, the state government provides a loan of up to Rs. 30 lakhs to eligible applicants. The loan is repayable in seven years with a moratorium period of two years.

Eligibility Criteria:

Scheme Name Age Educational Qualification Gender Urban/Rural Industry Profile Social Category Benefits State/Central Scheme
Mukhya Mantri Swavlamban Yojana 18-45 years Minimum 10th pass All Rural/Urban All MSMEs All Loan up to Rs. 30 lakhs State Scheme

  • Scheme Name: National Small Industries Corporation (NSIC) Subsidy

Description: The NSIC Subsidy scheme is a Central Government initiative that provides financial assistance to MSMEs in Himachal Pradesh. Under this scheme, eligible MSMEs can get a subsidy of up to 15% on the price of the plant and machinery. The subsidy amount is subject to a maximum of Rs. 15 lakhs.

Eligibility Criteria:

Scheme Name Age Educational Qualification Gender Urban/Rural Industry Profile Social Category Benefits State/Central Scheme
NSIC Subsidy No age limit Not specified All Rural/Urban All MSMEs All Subsidy of up to 15% on the price of plant and machinery Central Scheme

 

Note: The NSIC Subsidy scheme is a Central Government initiative, but MSMEs in Himachal Pradesh can also benefit from it.

 

In conclusion, these schemes provide more options for MSMEs in Himachal Pradesh to get financial assistance for their businesses. Each scheme has its own eligibility criteria and benefits, so it’s important for entrepreneurs to research and identify which scheme would be the most suitable for their business needs. Finline’s project report service can also assist MSMEs in preparing a project report that meets the requirements of these loan schemes, making the loan approval process easier and faster.

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Loan schemes available for MSMEs in Haryana

 

 

Small and medium-sized enterprises (SMEs) are the backbone of India’s economy, providing employment opportunities and driving economic growth. The government of Haryana recognizes the importance of SMEs and has launched several loan schemes to support MSMEs. These schemes aim to provide financial assistance to entrepreneurs who want to start their own businesses or expand their existing ones. In this blog post, we will discuss the loan schemes available for MSMEs in Haryana.

  • Haryana Swarn Jayanti Udyami Yojana

The Haryana Swarn Jayanti Udyami Yojana (HSJUY) is a loan scheme launched by the Haryana government to promote entrepreneurship among SC/ST and women entrepreneurs. Under this scheme, financial assistance of up to Rs. 1 crore is provided to eligible applicants. The loan is repayable in 7 years, including a 2-year moratorium period. The interest rate for this loan is 4% per annum.

Scheme name Gender Qualification Age group Social category Industry profile Rural/Urban State govt/Central Govt
HSJUY SC/ST and women 10th pass or above 21-50 years SC/ST and women Manufacturing, service, and agriculture Both State govt

  • Mukhya Mantri Vyapari Samuhik Niji Durghatna Beema Yojana

The Mukhya Mantri Vyapari Samuhik Niji Durghatna Beema Yojana (MMVSNDBY) is an insurance scheme launched by the Haryana government for MSMEs. The scheme provides insurance cover to MSMEs in case of accidents, disability, or death of the owner. The premium for this scheme is subsidized by the government, and the sum assured varies depending on the premium paid.

Scheme name Gender Qualification Age group Social category Industry profile Rural/Urban State govt/Central Govt
MMVSNDBY Not applicable Not applicable Not applicable Not applicable MSMEs Both State govt

 

  1. The Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) Loan:  Scheme is a loan scheme launched by the Haryana government to provide financial assistance to MSMEs. Under this scheme, loans of up to Rs. 50 lakhs are provided to eligible applicants. The loan is repayable in 7 years, including a 2-year moratorium period. The interest rate for this loan is 10% per annum.
Scheme name Gender Qualification Age group Social category Industry profile Rural/Urban State govt/Central Govt
HSIIDC Loan Scheme Not applicable Not applicable Not applicable Not applicable Manufacturing, service, and agriculture Both State govt

  • Prime Minister’s Employment Generation Programme

The Prime Minister’s Employment Generation Programme (PMEGP) is a loan scheme launched by the central government to provide financial assistance to MSMEs. Under this scheme, loans of up to Rs. 25 lakhs are provided to eligible applicants. The loan is repayable in 5-7 years, including a 2-year moratorium period. The interest rate for this loan is 12% per annum.

 

Scheme name Gender Qualification Age group Social category Industry profile Rural/Urban State govt/Central Govt
PMEGP Not applicable Not applicable 18-35 years Not applicable Manufacturing, service, and agriculture Both Central govt

  • Credit Guarantee Fund Trust for Micro and Small Enterprises

The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) is a loan scheme launched by the central government to provide collateral-free loans to MSMEs. Under this scheme, loans of up to Rs. 2 crores are provided to eligible applicants. The loan is repayable in 5-7 years, including a 1-year moratorium period. The interest rate for this loan varies depending on the lender.

Scheme name Gender Qualification Age group Social category Industry profile Rural/Urban State govt/Central Govt
CGTMSE Not applicable Not applicable Not applicable Not applicable Manufacturing, service, and agriculture Both Central govt

  • Haryana Swarna Udyam Nidhi

The Haryana Swarna Udyam Nidhi is a scheme launched by the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) to provide financial assistance to MSMEs in the state. Under this scheme, loans of up to Rs. 20 lakhs are provided to eligible MSMEs at an interest rate of 9% per annum. The repayment period for this loan is 7 years, including a 1-year moratorium period.

Scheme name Gender Qualification Age group Social category Industry profile Rural/Urban State govt/Central Govt
Haryana Swarna Udyam Nidhi Not applicable Not applicable Not applicable Not applicable Manufacturing, service, and agriculture Both State govt

  • Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) Loans

HSIIDC also provides loans to MSMEs in Haryana for the purpose of setting up new units, expansion, modernization, diversification, and rehabilitation of existing units. The loan amount provided by HSIIDC depends on the requirement of the project, with a maximum limit of Rs. 20 crores. The interest rate for this loan varies depending on the lender.

Scheme name Gender Qualification Age group Social category Industry profile Rural/Urban State govt/Central Govt
HSIIDC Loans Not applicable Not applicable Not applicable Not applicable Manufacturing, service, and agriculture Both State govt

  • Chief Minister’s Good Governance Associates (CMGGAs) Scheme

The Chief Minister’s Good Governance Associates (CMGGAs) Scheme is a scheme launched by the Haryana government to promote good governance and development in the state. Under this scheme, young professionals are hired as CMGGAs and are placed in different departments of the government. They work closely with the government officials to identify gaps in the implementation of various schemes and suggest ways to improve them.

Scheme name Gender Qualification Age group Social category Industry profile Rural/Urban State govt/Central Govt
CMGGAs Scheme Both Graduate or Postgraduate 21-42 years Not applicable Not applicable Both State govt

 

These loan schemes and schemes for professionals are available to MSMEs and young professionals in Haryana, providing them with the necessary financial assistance and employment opportunities to help grow their businesses and the state’s economy. 

In conclusion, MSMEs in Haryana have access to a variety of loan schemes that provide financial assistance to start or expand their businesses. These loan schemes offer flexible repayment terms and low-interest rates, making them an attractive option for entrepreneurs. MSMEs should take advantage of these schemes to grow their businesses and contribute to the growth of the Haryana economy.

 

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MSME Loan schemes available in Gujarat 

The MSME sector plays a critical role in the economic development of Gujarat, contributing significantly to employment generation, income growth, and overall economic prosperity. To support and promote the growth of MSMEs in the state, the Gujarat government has introduced various MSME loan schemes that offer financial assistance to MSMEs at different stages of their business lifecycle. MSMEs often face several challenges, including access to finance, inadequate infrastructure, and regulatory hurdles.

These loan schemes offer financial assistance to MSMEs across various stages of their business lifecycle, from setting up a new enterprise to expanding an existing one. By availing of these loan schemes, MSMEs can access the much-needed capital to purchase machinery and equipment, hire skilled labour, improve their infrastructure, and expand their operations. Following are the best MSME loan schemes available in Gujarat.

Gujarat Industrial Investment Corporation (GIIC) MSME Loan Scheme

The Gujarat Industrial Investment Corporation (GIIC) Loan Scheme is a financial assistance program offered by the GIIC to support the establishment and growth of Micro, Small and Medium Enterprises (MSMEs) in the state of Gujarat. It provides term loans at competitive interest rates to MSMEs for setting up new units or expanding existing ones across the state, not just in GIDC industrial estates. Following are some of its highlights:

Loan amount Up to 50 crore
Interest rates 9.75% to 12.25%
Loan tenure Up to 10 years
Collateral Required
Age Minimum age of 18

Credit Linked Capital Subsidy Scheme (CLCSS)

Credit Linked Capital Subsidy Scheme was launched in October 2000 by the Government of India. This scheme provides necessary funds to MSMEs for upgrading their existing technologies. Enterprises can use this scheme to upgrade their existing plant and machinery and increase profit. This scheme has no upper loan limit, but the subsidy is calculated on the loan amount sanctioned for P&M purchase only. The following are its main features:

Loan amount No upper limit
Subsidy 15% of the loan amount
Annual guarantee fee 0.75%-1.0%
Loan tenure Flexible tenure depending upon the repayment capacity

Pradhan Mantri MUDRA Yojana (PMMY)

The Pradhan Mantri MUDRA Yojana (PMMY) is a flagship central government scheme launched in 2015. It provides micro-loans to non-corporate, non-farm micro and small enterprises in both rural and urban areas.

PMMY offers loans under three categories, depending on the stages of business growth and funding needs:

  • Shishu Mudra: Up to Rs. 50,000
  • Kishore Mudra: Rs. 50,001 to Rs. 5 lakh
  • Tarun Mudra: Rs. 5 lakh to Rs. 10 lakh

MUDRA loans are availed through various financial institutions, including Public sector banks, Private sector banks, Regional Rural Banks, Small Finance Banks, Microfinance Institutions, and Non-Banking Financial Companies (NBFCs).

Unlike other loan schemes, PMMY doesn’t have specific criteria for age, gender, tenure, interest rates, etc. All these factors can vary based on the category of the loan and the policies of the lending institution.

Prime Minister’s Employment Generation Programme (PMEGP)

PMEGP is a credit-linked subsidy scheme administered by the Ministry of Micro, Small and Medium Enterprises (MSME), which aims at creating job opportunities by establishing micro-enterprises. The main target of this scheme is Women, Traditional and prospective artisans and Unemployed youth. The following are some of its main features:

Age Minimum age of 18
Interest rate Between 11% -12% depending on the bank
Loan tenure 3-7 years
Education qualification VIII standard pass
Maximum Loan amount Rs. 1 Crore
Subsidy 15% to 35%

Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).

CGTMSE is a joint initiative launched in 2000 by the Ministry of Micro, Small and Medium Enterprises (MSME), the Government of India, and the Small Industries Development Bank of India (SIDBI). It encourages financial institutions to provide collateral-free credit schemes to micro and small enterprises. In case of any default, the bank can file a claim with CGTMSE. The following are some of its main features:

Loan amount Up to 5 crore
Collateral Not required
Loan tenure 5-10 years
Annual Guarantee fee 0.37%-1.35%
Age Minimum age of 18

Stand-up India

Stand-up India is a central government scheme launched in 2016. It provides bank loans for entrepreneurship among women and members of Scheduled Castes (SCs) and Scheduled Tribes (STs). Existing businesses cannot avail loans through this scheme, as these are provided for starting new businesses. These loans are provided through various banks, including scheduled commercial banks, regional rural banks (RRBs), and small finance banks.

This scheme provides loan amounts ranging from Rs. 10 lakhs to Rs. 1 crore. The interest rates and tenure vary depending on the nature of the business and other factors such as the nature of the business, credit policies of the lender, etc.

SIDBI Make in India Soft Loan Fund for Micro, Small, and Medium Enterprises (SMILE)

SMILE is a scheme launched by the central government to provide financial assistance to 25 Identified sectors under the ‘Make in India’ initiative. This scheme promotes the ‘Make in India’ initiative among entrepreneurs. SMILE provides adequate funding for the setting up of new enterprises and also for the expansion of existing ones. The following are some of its main features:

Loan tenure Maximum 10 years
Loan amount From Rs.10 lakhs to Rs.25 lakhs
Interest rates Depending on enterprises’ requirement
Nature of loan Quasi-equity and term loans

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