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MSME Loan schemes available in Goa

Goa, one of the most popular tourist destinations in India, is also home to many small and medium-sized enterprises (MSMEs). These MSMEs contribute significantly to the state’s economy and provide employment opportunities to the locals. However, like all small businesses, MSMEs in Goa also face financial constraints. To support these businesses, the Goa government, in collaboration with various financial institutions, offers a range of loan schemes. In this article, we will discuss the loan schemes available for MSMEs in Goa.

Chief Minister’s Rojgar Yojana, Goa

Chief Minister’s Rojgar Yojana was launched by the Government of Goa to encourage self-employment (Rojgar) among Goan youth. Through this scheme, beneficiaries can avail loans to set up new business units or to expand existing ones. Following are some of its highlights:

Loan amount Up to Rs. 25 lakhs
Interest rate 8%
Loan tenure 5-10 years
Residence Permanent resident of Goa for at least 15 years
Age Between the age of 18 and 50

General MSME Term Loan Scheme, Goa

The General Term Loan Scheme is a loan scheme offered by the Economic Development Corporation (EDC) of Goa to micro, small, medium and large enterprises (MSMEs). The purpose of the loan is to provide financial assistance to businesses for setting up projects of eligible industrial activities. Following are some of its highlights:

Loan amount Up to 4 crores
Interest rate Between 9.5% -13.5% depending on the credit rating of the applicant
Processing fees 1% of the loan amount
Collateral Required
Area operation Only in Goa
Minimum promoter’s contribution 25% of the project cost

Goa Tribal Employment Generation Programme(GTEGP) Scheme

The Goa Tribal Employment Generation Programme (GTEGP) Scheme is a government MSME loan scheme formed to support educated unemployed individuals of the tribal communities of Goa. Through this scheme, the government provides subsidies on loans as well as new working capital loans. Following are some of its highlights:

Loan amount Up to Rs. 25 lakhs
Interest rate 2%
Loan tenure 60 to 120 months
Educational qualification Minimum standard IVth
Age Between 18 to 45 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 Delhi

Delhi, being the capital of India, has a substantial number of MSMEs. To support the growth and development of this sector, both the central and state governments have launched various loan schemes. In this article, we will discuss some of the popular MSME loan schemes available in Delhi. 

Dilli Swarojgar Yojana (Delhi State Finance and Development Corporation) MSME loan

The Dilli Swarojgar Yojna (DSY) is a loan scheme launched by the Delhi State Finance and Development Corporation (DSFDC) to promote self-employment ventures among Scheduled Castes (SCs), Scheduled Tribes (STs), Other Backward Classes (OBCs), Minorities. This MSME loan scheme aims to help beneficiaries start or expand their businesses and achieve economic self-sufficiency in Delhi. Following are some of its highlights:

Loan amount Up to 5 lakhs
Interest rates 6% p.a.
Loan tenure Up to 7 years
Educational Qualification Minimum 8th passed
Age Between 18 – 50 years of age

Mahila Udyam Nidhi Scheme

The Mahila Udyam Nidhi Scheme provides financial assistance to women entrepreneurs who want to start new ventures or expand their existing businesses. The main motive of the scheme is to empower women entrepreneurs across the state. Please note that these schemes are now available only through Punjab National Bank. The following are some of its features:

Loan amount Up to Rs. 10 lakh
Loan interest 5% per annum
Loan tenure 5 to 7 years
Educational Qualification 10th standard
Age & Gender Women aged 18 to 55 years

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 loan category and the lending institution’s policies.

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 Chhattisgarh

The MSME sector plays a vital role in the economic development of Chhattisgarh, contributing significantly to employment generation, income growth, and overall economic prosperity. However, MSMEs often face several challenges, including access to finance, inadequate infrastructure, and regulatory hurdles. To address these challenges, the Chhattisgarh government has introduced various loan schemes aimed at promoting and supporting the growth of MSMEs in the state.

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.

Mukhyamantri Yuva Swarjgar Yojana (MMYSY)

The state government of Chhattisgarh launched Mukhyamantri Yuva Swarjgar Yojana (MMYSY) to reduce unemployment through self-employment. Under this scheme, the government provide loans to eligible beneficiaries to start their business. Following are some of its highlights:

Loan amount 2 lakhs to 25 lakhs 
Interest rates 4% – 9%
Loan tenure Up to 7 years
Educational qualification Minimum 8th passed
Age Between the age of 18 and 35

Chhattisgarh Gramin Bank (CGB) MSME Loans

The Chhattisgarh Gramin Bank (CGB) provides loans to MSMEs in rural areas of the state for setting up new projects or expanding existing ones. They provide term loans and cash credit facilities to small businesses, SSI, traders, professional and self-employed rural artisans etc. The following are its main highlights:

Loan amount Up to 1 crore
Interest rates 9% – 11%
Loan tenure Up to 7 years
Gender Both male & female
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 loan category and the lending institution’s policies.

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

In addition to the various loan schemes offered by the government, there are also several private lenders and NBFCs that provide loans to MSMEs in Chhattisgarh. However, to avail of these loans, entrepreneurs must submit a detailed project report that outlines their business plan, financial projections, and other relevant information.

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 Bihar

Bihar is one of the fastest-growing states in India and has a vibrant MSME sector. Bihar has always been an important centre of trade and commerce historically. Still, in the modern context, the availability of funds for the development of industries and commerce has been absent acting as a major hindrance in the socio-economic development of the state. The government of Bihar has launched various loan schemes to support the growth of MSMEs in the state. These schemes provide financial assistance to entrepreneurs and MSMEs to help them set up or expand their businesses. In this blog, we will discuss some of the popular loan schemes available for MSMEs in Bihar.

Following is the list of top MSME loan schemes available in Bihar:

Mukhya Mantri Udyami Yojana

This scheme is aimed at providing financial assistance to young entrepreneurs through loans. The loan can be availed for setting up a new business. The scheme also offers a 5% interest subsidy on the loan for the first five years. Following are the other highlights of the scheme:

Loan amount Up to 10 lakhs
Interest subsidy 5%
Loan tenure Up to 7 years
Educational qualification Minimum 10th passed
Age Between 18 and 40 years

Mukhyamantri Yuva Swarozgar Yojana

It is a scheme launched by the Bihar government to encourage entrepreneurship among the youth. The scheme provides financial assistance to eligible candidates to set up their business ventures. The scheme covers all types of industries, including MSMEs. Following are some of its highlights:

Loan amount Up to 10 lakhs
Interest rate 2%-4%
Loan tenure Up to 7 years
Margin money requirement 10% of the project cost
Age Between 18 and 40 years

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 Assam

Assam is a state in northeastern India known for its lush green forests, tea plantations, and diverse culture. The state has a vibrant MSME sector that plays a crucial role in its economic growth. To support the growth of MSMEs in the state, the government of Assam has launched various loan schemes. These schemes aim to provide financial assistance and other incentives to entrepreneurs to set up or expand their businesses. The state has also taken several initiatives to boost entrepreneurship, including the establishment of incubation centres and skill development programs. In this blog, we will discuss some of the MSME loan schemes available in Assam, along with their eligibility criteria. The following is the list of top MSME loan schemes available in Assam:

Sarothi – The Start-Up Assam

Sarothi is a start-up MSME loan scheme launched by the state government of Assam to encourage the start-up ecosystem in the state. The basic objective of the scheme is to provide financial assistance in the form of a loan with Interest subvention through a designated Bank covering the whole of Assam. Following are some of its highlights:

Loan amount Up to 10 lakhs
Interest subvention 5% Interest subvention
Loan tenure Flexible, based on the project requirements
Promoter’s Margin 15% of the project cost
Target Beneficiaries New entrepreneurs in Assam

Chief ministers Atmanirbhar Asom Abhijan

Chief ministers Atmanirbhar Asom Abhijan is a flagship scheme of the state government of Assam. Through this scheme, the government aims at generating new employment opportunities by setting up entrepreneurial units across the state. Not more than one member from any family shall be eligible for availing benefits under this scheme. Following are some of its highlights:

Loan amount Up to 5 lakhs
Residence Permanent resident of Assam
Loan tenure Up to 7 years
Margin money 10% of the project cost
Age Above 28 years and below 40 years

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 Arunachal Pradesh

Arunachal Pradesh, also known as the “Land of the Dawn-Lit Mountains”, is a northeastern state of India with immense potential for the growth of MSMEs. The state government of Arunachal Pradesh has implemented various loan schemes to support the development and growth of MSMEs in the state. Here are some of the loan schemes available for MSMEs in Arunachal Pradesh:

Deen Dayal Upadhaya Bunkar Yojana

This scheme was launched by the government of Arunachal Pradesh to provide financial assistance to women weavers in the state. It allows women weavers to access affordable credit from banks for working capital requirements. Following are some of its features:

Loan amount Up to 2 lakhs
Interest subvention 7%
Loan tenure 1 year
Gender Only for Females
Residence Arunachal Pradesh

Chief Minister’s Krishi Rinn Yojana (CMKRY)

The Chief Minister’s Krishi Rinn Yojana is a scheme launched by the Government of Arunachal Pradesh to provide financial assistance in the form of MSME loans to farmers and agri-entrepreneurs. Under this scheme, loans are provided at zero interest rate for setting up agro-based industries, agricultural equipment, and other related activities. Following are some of its highlights:

Loan amount Up to 3 lakhs
Interest rate 0%
Loan tenure 1 – 5 years
Eligibility All farmers in Arunachal Pradesh with a valid KCC
Gender Both males and females

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 Articles

MSME Loans available in Andhra Pradesh

Andhra Pradesh is one of the leading states in India in terms of the growth of the MSME sector. To encourage this growth further, the Andhra Pradesh government has introduced various loan schemes to provide financial assistance to entrepreneurs and small businesses. These schemes are designed to cater to the specific needs of the MSME sector in Andhra Pradesh. Let’s look at some of the popular loan schemes available for MSMEs in Andhra Pradesh.

Andhra Pradesh ReSTART scheme

Under this scheme, the state government of Andhra Pradesh offers several financial and non-financial incentives. Micro and small enterprises registered with the Udyam Registration portal and operating within Andhra Pradesh are eligible to apply for this loan. They offer a working capital loan to MSMEs in the state. Following are some of its highlights;

Loan amount Up to 10 Lakhs
Loan tenure Up to 3 years
Interest rates 6% – 8%
Gender Both Male & Female

In conclusion, the state and central governments have launched various loan schemes to support the growth and development of MSMEs in Andhra Pradesh. These loan schemes are designed to provide financial assistance to entrepreneurs and help them establish and expand their businesses. With the right scheme and adequate documentation, MSMEs in Andhra Pradesh can access loans easily and help drive the state’s economic growth.

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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Articles

Why do you need a GST Invoice: Advantages of GST Invoice

Maintaining a successful business requires a great deal of skill, expertise, and aptitude. However, you still require more than that. To operate a business, you must also have a solid understanding of the GST system of taxation. Finline explains about the GST invoice in this article. We, The Finline team also introduce you to a new, easy-to-use tool for your GST invoice Preparation. Try it and feel at ease.

What is a GST Invoice?

A tax invoice is a crucial document in the context of GST. It not only presents evidence of the provision of goods or services, but it is also a requirement for the receiver to be eligible for the Input Tax Credit (ITC). A qualified person cannot claim credit for input taxes unless he has a tax invoice or a debit note in his possession. A provider or seller will provide an invoice to the customer or receiver of products and services. Such a paper includes the parties’ identities as well as the specifics of the goods or services provided in connection with a specific contract.

When ought a GST invoice to be generated?

In the case of taxable services, the invoice should be issued either beforehand or after the service is rendered. However, such an invoice must be generated no later than 30 days after the service was rendered. This time frame is extended to 45 days in the event of banking and financial services institutions.

GST Invoice Format

Typically, a tax invoice is generated to collect the tax and transfer the input tax credit. The following fields must be included on an invoice:

  • The day the invoice is created and the invoice number
  • Customer’s Surname
  • Client’s Payment Address and Shipping Location
  • Supply Date
  • particular codes for each commodity and service sold.
  • List of products and services
  • information about the amount, price, quantity, discounts, and other characteristics of goods and services.
  • The current GST tax rate is
What are the advantages of the GST invoice?

By using this method, the tax to be received on the supply of products and services can be used to balance the input tax that was received on the purchase of products and services. As a result, the whole manufacturing cost is decreased, which benefits the final consumer. 

How to Produce a GST Tax Invoice?

A GST Tax receipt serves as both a demand for payment and a legal record of the cash payment and tax collected. Because of this, an invoice contains comprehensive information on both the customer and the vendor.

Although a GST tax invoice requires precise work, you don’t have to put much effort into each one. With our Finline tool, you can simply create a GST Tax Invoice in less than 10 minutes. Your invoices can be made with little effort.

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Articles

TRENDING SMALL BUSINESS IDEAS IN INDIA 2022

The below are some trending small business ideas that you can start in 2022:

  1. Aluminium Utensils Shop

A utensil is a tool you can hold in your hand and use around the house. In the kitchen, common utensils are the knives, forks, and spoons that we hold in our hands and use to eat. While aluminium has been associated with Alzheimer’s disease, there is no definite link proven. The World Health Organization estimates that adults can consume more than 50 milligrams of aluminium daily without harm. During cooking, aluminium dissolves most easily from worn or pitted pots and pans.

  1. Homemade food Business

Homemade Food means food that is prepared or processed. Coffee, tea, chips and popcorn, muffins and cookies, jams and honey are among the items, all non-refrigerated, that home-based food entrepreneurs are allowed to sell. That makes it a great business opportunity. Few things are more fulfilling than growing a business in an industry that excites you.

  1. Tea & Coffee Café

A coffee shop is a kind of restaurant that sells coffee, tea, cakes, and sometimes sandwiches and light meals. Coffee shops are part of the speciality eatery industry, which also includes outlets specializing in products such as bagels, doughnuts, frozen yoghurt, and ice cream. Commencing a coffee shop business in India is profitable as well as a lucrative option. Furthermore, the coffee shop chains are gaining popularity among the masses.

  1. Papad & Pickle Making

Papad business is deemed to be a profitable business because it is consumed by everyone. It carries nutritious value, and the market for Papad is expanding. Pickles not only increase the taste of your food but also make it more delicious. In such a situation, think that if you do a good quality pickle business in India, then think how much profit can be earned. Based on the huge market demand, this business is easy as well as more profitable.

  1. Stationery Store

Stationery refers to commercially manufactured writing materials, including cut paper, envelopes, writing implements, continuous form paper, and other office supplies. A stationery business sells custom printed and designed paper products for event promotions and personal announcements, such as weddings or baby showers.

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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Articles

Trending Innovative Business Ideas in India 2023

The following are 5 trending and innovative business ideas that you can start in India in 2023:

  1. Medical Store

The medical store business is playing a vital role in the Indian economy. It is very advantageous in nature as the medical store business profit margin is somewhat higher, and also, it doesn’t easily get by the rise and fall in business cycles. There are different margins for each type of product, such as profit margins for trapped products, generic medicines, and OTC (over-the-counter) medicines, branded prescription products.

  1. Network Marketing

Network marketing is a business model that depends on person-to-person sales by independent representatives, often working from home. A network marketing business may require you to build a network of business partners or salespeople to assist with lead generation and closing sales.

  1. Optical Store

An optical store is a special location that you can visit with the goal of purchasing eyeglasses and frames. Contrary to what many people believe, optical stores aren’t staffed simply with sales assistants. Opticians help fit consumers for eyeglasses and contact lenses, following prescriptions from ophthalmologists and optometrists. They also help those patients select a pair of lenses or contacts.

  1. Electronic Store

Electronics Stores are stores that offer for sale primarily electronic products. India is one of the largest consumers of electronics in the world. The demand for electronics is going to increase in the country with growing digitization. So, electronics manufacturing is a profitable business.

  1. Fast Food Business

Fast food is food quickly prepared and served, often at chain restaurants and typically associated with less expensive and less nutritious items like hamburgers, French fries, and soft drinks. The Fast Food industry consists of accounts for prepared food usually from a restaurant, store, food truck, or street vendor, served quickly and affordably to consumers in a take-out, disposable container.

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.