Category: Loan Schemes

Central and State Government Loan Schemes for StartUps & New MSMEs in India

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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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Loan Schemes

Puducherry Startup Fund

Puducherry Startup Fund

Start-ups have grown in popularity in Puducherry over the past ten years (Pondicherry). A vibrant group of people, including employees and college students, have stepped forward to launch their start-ups. In Puducherry, start-ups have generated a lot of job opportunities over the past ten years (Pondicherry).

The government created a ten crore corpus fund known as the “Puducherry Start-up Fund” to aid in the establishment of start-up incubators. The funds construct co-working spaces. Private industrial C.S.R. funds, as well as any other resources and services that the Start-up Council deems appropriate, will be sought out by the Corpus fund for support.

What is a start-up?

A start-up is a small company founded to provide a particular service or good to address a problem. Start-up refers to a business that is just getting started. They are created by one or more business owners who want to make a good or service.

The government of Puducherry unveiled a start-up policy. The policy, announced by Minister for Industries M.O.H.F. Shahjahan, aims to establish a corpus fund of 10 crores to support the development of co-working spaces and the establishment of start-up incubators.

The department intends to offer a start-up grant of Rs. 3 lakh to projects suggested by incubators set up by public, private, or academic institutions. The government-established committee of experts known as the Innovation and Entrepreneurship Development Committee will approve the projects and keep an eye on their development.

The CII Puducherry start-up summit 

CII refers to the CONFEDERATION OF THE INDIAN INDUSTRY. The goal of the Puducherry Start-up Summit was to draw the most creative and innovative business minds from all over Puducherry to help them develop their ideas for the growth of the state. Eminent speakers shared their perspectives on the start-up ecosystem, the investment climate, cutting-edge ideas, and the value of incubation at the event.

The summit’s main topics were “Quick Start to Early Struggles -Experience Sharing, Brief about the Start-up Policy of Government of Puducherry, Role of Accelerators & Incubators in Start-up Ecosystem, and The Art & Science of Fundraising for Start-ups.”

Benefits of the scheme 
  • Start-ups recommended by incubators created by the government, the private sector, or academic institutions can receive a financial grant of up to 3 lakhs. A panel of experts that the government has appointed will approve the start-ups. On the other hand, the Innovation and Entrepreneurship Development Committee (I.E.D.C.) will periodically monitor their development.
  • Up to five citizens each receive a monthly allowance of 10,000 rupees. Furthermore, the government shall give a monthly stipend of 15,000 to any woman, person from a historically underrepresented group, a person from a predominantly white region, or transgender person who founded or co-founded the start-up.
  • Beginning with the Minimum Viable Product (M.V.P.) stage, recognized start-ups operating in Puducherry will receive marketing assistance from the start-up cell with I.E.D.C.’s approval.
  • Funds for infrastructure support, including workstations and cloud storage, are provided based on incubator recommendations.
Eligibility of the scheme 

If a business meets the listed requirements below, people consider it a start-up.

  • If it is registered in India as a private limited company, a partnership firm, or a limited liability partnership (as defined in section 59 of the Partnership Act, 1932), (as defined in the Limited Liability Partnership Act, 2008).
  • Ten years have passed since the company’s incorporation or registration.
  • If during any of the financial years following the entity’s incorporation or registration, its annual revenue was at most 100 crore rupees.
  • An organization, a person, or a group engaged in developing original concepts or ideas. The same goes for developing or improving new products, methods, or services based on technology or intellectual property, as well as determining whether they have a scalable business model with a high potential for generating wealth or employment.
  • If it adheres to the periodically updated definition of a start-up set forth by the Government of India.
  • An organization, a person, or a group engaged in developing original concepts or ideas. The same goes for developing or improving new products, methods, or services based on technology or intellectual property, as well as determining whether they have a scalable business model with a high potential for generating wealth or employment.
  • If it adheres to the periodically updated definition of a start-up set forth by the Government of India.
Documents needed for the Puducherry start-up fund 
  • Native certificate
  • Passport size photo 
  • Project report/business plan 
  • Aadhar card copy 
  • Affidavit 
  • Certificate of education
  • Ration card copy
  • Caste certificate ( if applicable )
  • Disability certificate ( if applicable )
  • Bank detail copy 

The world knows India as the start-up capital; multiple young and dynamic Indians are pursuing entrepreneurship, propelling them and the entire country forward. That’s why Puducherry’s Minister of Industries Shahjahan unveiled the Industries Department’s start-up policy, emphasizing the importance of offering financial grants, monthly stipends, and tax incentives to potential entrepreneurs to encourage the establishment of new businesses in the Union Territory.

How to apply for the Puducherry Startup Fund?

Visit the following link to learn more about the scheme

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 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 reports. Click to create your report.

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Loan Schemes

Swami Vivekananda Swanirbhar Karmasansthan Prakalpa

The West Bengal Swarojgar Corporation Ltd implements the Swami Vivekananda Swanirbhar Karmasansthan Prakalpa(SVSKP), a flagship scheme of the Department of Self Help Group & Self Employment (WBSCL).

The basic goal of the scheme is to increase access to credit for the growth of rural/urban enterprises. SVSKP yojana gives assistance to unemployed young people and groups of people. More emphasis has been placed on training, especially in trades where locally available raw materials could be used to produce. Making finer articles rather than being wasted due to ignorance, and in traditional crafts where there is ample potential.

What are the Benefits of  Swami Vivekananda Swanirbhar Karmasansthan Prakalpa(SVSKP) Yojana?
  • Generation of self-employment opportunities across the state. 
  • Promotion of enterprises in the remote and rural areas of West Bengal. 
  • Financing the funds to the educated unemployed youth of the state to promote self-dependence. 
  • Better utilisation of idle resources. 
  • Maximum Govt. subsidy of Rs. 1.5 lakh for individual 
  • West Bengal Swarojgar Corporation Ltd is providing 3.5 lakh for groups of five or more, which represents 30% of the project cost 
What is the Eligibility of SVSKP Yojana?
  • The applicant must be between 18-45 years of age. 
  • The monthly family income of the applicant should be less than Rs.15,000
  • This project is applicable to any type of small-scale industry, production unit, trading unit, or service point in rural or urban areas. It also includes any unit involving agriculture and animal resources.
  • Employees of the Central Government, State Government and any government-approved organization or his family cannot participate in this project.
  • Swami Vivekananda Swanirbhar Karmasansthan Prakalpa pays 5 per cent of the project cost to the applicant.
  • 30 per cent grant from the State Government (maximum of Rs. 1.5 lakhs in individual projects and maximum of Rs. 3.5 lakhs in joint ventures)
  • State-owned banks or financial institutions must pay the remaining 65 per cent or the remainder at current interest rates.
What are the Documents Required for SVSKP Yojana? 
  • Birth certificate
  • Employment Exchange Card / Unemployment Certificate from BDO
  • Caste Certificate
  • Colour Photograph
  • Project Report/Business Plan
  • Trade License
  • Educational Qualification Certificate. 

In the above list, a Business plan also known as a project report is a crucial document when applying for a bank loan. The bank uses this document to analyze the overall feasibility, risks, financial viability, and potential of a project. A well-crafted and convincing project report increases the chances of loan approval. With Finline you can craft a compelling project report in less than 10 minutes. That too in your language. Our reports are accepted by all public and private sector banks working in India. Click to create your project report.

How to apply for Swami Vivekananda Swanirbhar Karmasansthan Prakalpa(SVSKP) Yojana? 

Visit the following link to download the application form for the SVSKP Scheme

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Loan Schemes

Chief Minister’s Rojgar Yojana (CMRY), Goa

The State Government of Goa has started the Chief Minister’s Rojgar Yojana (CMRY). Collaboration with the Economic Development Corporation of Goa for unemployed youth. Under this scheme, with the help of government loans, other backward class people, scheduled castes, scheduled tribes and all ordinary people have to provide employment.

Under the CMRY scheme, the government provides 30 days of compulsory entrepreneurship training before disbursement of loans after the loan approval of the beneficiaries. The main objective of this scheme is to enable and educate unemployed youth. Introducing income generation by providing self-employment activities supported with institutional loans, and government subsidies with financial support.

What are the Objectives of the Chief Minister’s Rojgar Yojana(CMRY)?

The objective of the Chief Minister’s Rojgar Yojana scheme is to uplift employment potential and nurture the life of every unemployed person. This scheme is for those living in Goa who have lived in Goa for at least 15 to 40 years. Under this scheme, the state government provides loans up to a maximum of 20 lakh rupees for an individual. Those including professional degrees/diplomas/ ITIs are participating in special training programs organized by authorized government departments in Goa. 

What are the Benefits of the Chief Minister’s Rojgar Yojana(CMRY)? 
  • The government is providing loans to start its own business.
  • An individual with a professional degree/diploma/I.T.I., including those undergoing special training programs conducted by authorized Government Departments/Corporations, can avail a maximum project cost of Rs 25.00 lakh, including a 50% share capital under the DITC scheme (80% in the case of SC/ST applicants).
  • For others, the maximum amount is Rs 20.00 lakh, including 50% (80% in the case of SC/ST applicants) share capital under the DITC scheme.
  •  30 days of compulsory entrepreneurship training before disbursement of the loan after the loan approval of the beneficiaries is also being provided.
What is the Eligibility for CMRY?
  • Applicant must be a resident of Goa State.
  • Unemployed applicants should normally be between 18 and 45 years. 5 years exemption in case of widows, disabled persons, scheduled castes, scheduled tribes and other backward classes.
  • The applicant should not be guilty of any nationalized bank / financial institution / co-operative bank.
  • Applicants must have passed at least Class 8 but exemption in eligible cases.
  • The income of a beneficiary with a husband and a family member should not exceed Rs 10,00,000/- p.a.
What are the Documents Needed for CMRY?
  • Aadhaar card/Passport/PAN Card 
  • Residential proof
  • Project Report/Business Plan
  • School leaving Certificate
  • Passing certificate
  • Documents of merit
  • Passport size photo

In the above list, a Business plan also known as a project report is a crucial document when applying for a bank loan. The bank uses this document to analyze the overall feasibility, risks, financial viability, and potential of a project. A well-crafted and convincing project report increases the chances of loan approval.

With Finline you can craft a compelling project report in less than 10 minutes. That too in your language. Our reports are accepted by all public and private sector banks working in India. Click to create your project report.

How to apply for Chief Minister’s Rojgar Yojana, Goa?

One can apply for the scheme in the following manner prescribed: 

  • The application form for the Chief Minister’s Employment Scheme is available at the offices of the Economic Development Corporation of Goa.
  • The applicant will have to fill out the application form by attaching it with all the necessary documents.
  • The price of the application form is Rs 100 / – for loans above Rs 50,000 and Rs 25 / – for loans below 50,000
  • The application has to be submitted to the office with the application fee at the Economic Development Corporation of Goa.
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Loan Schemes

What is Startup Punjab Scheme?

The economy of a state is heavily reliant on creativity and entrepreneurship. The state of Punjab has a reputation for being a leader in terms of overall prosperity and development. Industry, agriculture, education, health, literature, sports, arts, and culture are only a few of the areas where the state has excelled. Punjab is endowed with world-class infrastructure, human resources, and enterprising and forward-thinking people who aspire to transform every possible opportunity into a booming success.

Furthermore, the State has designated start-up and entrepreneurship as critical pillars for economic development, job creation, productivity, and wealth creation. The government launched the Startup Punjab and Entrepreneurship Development Policy, based on the Government of India’s Startup Action Plan and Standup India scheme. As well as the Punjab Government’s Industrial and Business Development Policy 2017.

What are the Benefits of the Startup Punjab Scheme?
  • Eligible Startups will receive an annual interest subsidy of 8% on the rate of interest charged.
  • Loans obtained from scheduled banks/financial institutions for a period of 5 years, up to a maximum of INR 5 lakh per year.
  • For a period of one year, eligible Startup units developed in the State, operating from Incubators/IT Parks/Industrial Clusters or any other notified site, will be eligible for reimbursement. 25% of lease rental subsidy, subject to a cap of INR 3 lakh per annum.
  • A Seed Grant of up to INR 3 lakh per startup will be given. Concept validation, prototype creation, assistance with travel costs, field/ market research, skill training, marketing, and other initial start-up activities, among other things. Investors will channel seed funding for startups into state incubators.
What is the Eligibility for Startup Punjab Scheme? 
  • With the previous fiscal year’s annual turnover of not more than INR 25 crores. Working on product, method, service innovation, change, and growth, on whether it’s a scalable business model with a high potential for wealth creation or job creation.
  • The dissolution or reconstruction of an existing corporation cannot establish the entity, nor can the reconstitution or demerger of an existing operation generate it.
  • The corporation should not be a holding company or a subsidiary of an established company. However, A startup’s subsidiary will be an exception to this clause.
  • One must register it as a Private Limited Company as defined by the Companies Act, 2013. Otherwise, a registered Partnership Firm as defined by Section 59 of the Partnership Act of 1932, or a Limited Liability Partnership as defined by the Limited Liability Partnership Act of 2008 in India. It should not be earlier than 7 years, with a maximum of 10 years for Biotechnology Companies;
  • The Punjab Shops and Commercial Establishment Act of 1958 requires the entity/company to register in Punjab.
  • The company expects to hire at least half of its total skilled staff from Punjab, excluding contract workers.
What are the Documents Needed for Startup Punjab Yojana?
  • Passport-size photograph of the applicant
  • Academic qualifications of the applicant
  • Project Report/Business Plan
  • Birth Certificate
  • Voter ID/Ration Card
  • Caste Certificate
  • Proof of business address
  • The applicant must not be at fault in the Bank.

In the above list, business plan also known as project report is a crucial document when applying for a bank loan. The bank uses this document to analyze the overall feasibility, risks, financial viability, and potential of a project. Therefore, a well-crafted and convincing project report increases the chances of loan approval. With Finline you can craft a compelling project report in less than 10 minutes. That too in your language. Our reports are accepted by all public and private sector banks working in India. Click to create your project report.

How to apply for the Startup Punjab Scheme?

Visit the following website to register for the policy 

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Loan Schemes

Mukhymantri Yuva Swarojgar Yojana, MMYSY

The state government of Chhattisgarh is inviting applications under the Mukhyamantri Yuva swarozgar Yojana(MMYSY). Under this scheme, the state government provides financial assistance to such youth who want to set up their own businesses. Therefore, such aspiring youth who are seeking for jobs but cannot find one and thus, want to do their own business, can get a loan up to a maximum of Rs 25 lakh by applying to the department as per rules. Applicants can get information by contacting the District Industries and Trade Center of their district.

What are the Benefits of Mukhymantri Yuva Swarojgar Yojana(MMYSY), Chhattisgarh?
  • The main benefit of this MMYSY scheme is to provide youth with their own livelihood and provide employment to the people through MSMEs. 
  • The Chhattisgarh state government provides loans up to Rs 10 lakh for any service business
  • Rs 2 lakh for small business 
  • and up to Rs 25 lakh for setting up manufacturing industries.
  • The beneficiaries of this scheme are also given a loan waiver of 10 to 25 percent.
What are the Eligibility Criteria for Mukhymantri Yuva Swarojgar Yojana(MMYSY), Chhattisgarh?
  • Candidates should have at least passed 8th from a recognized institution.
  • The prescribed age of the applicant should be 18 years to 35 years to avail this scheme.
  • SC, ST, OBC, Women, Disabled, Entrepreneur and Naxalite affected family members and retired soldiers will get 5 years relaxation in age criteria. 
  • The annual income of the applicant’s family should not exceed Rs 3 lakh.
  • Applicant should be a permanent resident of Chhattisgarh.
  • The applicant should not be a loan defaulter of any national bank, financial institution and co-operative bank. 
What are the Documents Needed for Mukhymantri Yuva Swarojgar Yojana(MMYSY), Chhattisgarh?
  • Aadhar Card
  • Caste Certificate 
  • Business plan/Project report
  • Photograph of the applicant
  • Income certificate
  • Bank passbook
  • Residence Certificate
  • Ration Card
  • Self-Declaration Form  
  • Mobile no. 
How to apply for Mukhymantri Yuva Swarojgar Yojana(MMYSY), Chhattisgarh?

Visit the following website to know more about the scheme 

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Loan Schemes

Chief Minister’s Startup Scheme(CMSS) Sikkim

The Government approved the Chief Minister’s Startup Scheme(CMSS) Sikkim on August 15, 2017, to encourage local unemployed youth. College graduates establish new entrepreneurial projects and self-employment possibilities in rural and urban areas of Sikkim. The Sikkim Startup India scheme plans to start businesses in the industrial and service sectors, such as farming, horticulture, food processing, animal husbandry, handloom, handicrafts, and so on. Also, for financially viable/bankable projects with a total expenditure amounting to INR. 20 lakhs, the scheme offers financial support as 25% of the project cost.

What are the Benefits of the Chief Minister’s Startup Scheme(CMSS) Sikkim?
  • The CMSS scheme is open to startup projects in the manufacturing or service sectors. Farming, horticulture, food processing, animal husbandry, handloom and handicrafts, with a cumulative project cost of Rs. 20 lakhs.
  • Acceptable financial assistance as promoter’s financial contribution is up to 25%. The approved bankable project cost for a bankable project that has been approved by any PSU financial institution or PSU bank.
  • The promoter’s contribution of financial support under CMSS for other non-manufacturing sector projects remains at 25% of the accepted project cost.
  • For non-manufacturing, CMSS shall admit an amount of 35 per cent of the approved bankable project cost.
What are the Eligibility Criteria for Chief Minister’s Startup Scheme(CMSS) Sikkim?
  • The applicant must be between 15 to 40 years of age. Chief Minister’s Startup Schemes Sikkim
  • The applicant must be jobless and hold a class V educational qualification from a recognised board.
  • The applicant must be a bona fide resident of Sikkim. 
  • In a household, only one member can avail of the benefits. 
  • Applicants belonging to rural and BPL families shall be given priority. 
What are the Documents Needed for the Chief Minister’s Startup Scheme(CMSS) Sikkim?
  • BPL certificate issued by DESME (if applicable)
  • Photographs of the applicant’s
  • Copy of Birth Certificate.
  • Address proof.
  • Project Report/Business Plan 
  • Copy of valid Employment Card issued by BAC.
  • Copy of Sikkim Subject Certificate/ Certificate of Identification.
  • Attested copy of mark sheet and certificate that is issued by Board/ University.

In the above list, business plan also known as project report is a crucial document when applying for a bank loan. The bank uses this document to analyze the overall feasibility, risks, financial viability, and potential of a project.

Therefore, a well-crafted and convincing project report increases the chances of loan approval. With Finline you can craft a compelling project report in less than 10 minutes. That too in your language. Also, our reports are accepted by all public and private sector banks working in India. Click to create your project report.

How to apply for the Chief Minister’s Startup Scheme(CMSS) Sikkim?

Visit the following website to download the application form for the scheme

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Loan Schemes

What is Pavala Vaddi MSME Scheme Andhra?

The Andhra Pradesh government (Ministry of Finance) launched the Pavala Vaddi MSME scheme. Aiming to provide interest subsidies on bank loans earned by self-help groups in the state. The scheme aims to lower the cost of starting new micro and small businesses in the state, particularly food processing businesses. This scheme covers all loans made by banks as part of the SHG Bank Linkage Program.

What are the Benefits of Pavala Vaddi MSME Scheme AP?
  • The interest rate charged by qualifying micro and small enterprises to the financial institution or banks on the term loan availed. It will be reimbursed to the concerned financial institution or bank on a half-yearly basis. With a maximum limit of 9% under the Pavala Vaddi scheme.
  • The Pavala Vaddi scheme offers benefits to self-help groups and MSMEs in the form of interest subsidies on bank loans.
  • Benefits will be available to qualifying beneficiaries for a duration of five years under this programme.
  • The scheme allocates the benefit in the form of interest repayment in excess of 3%. Irrespective of bank interest rates, and excludes penal interest, liquidated losses, and other payments made to the bank.
What are the Eligibility for Pavala Vaddi MSME Scheme AP?
  • Only qualifying new units will be granted assistance. If they repay their principal and interest loan payments on time and on budget.
  • New micro and small business units established in Andhra Pradesh other than the Municipal Corporation boundaries of Visakhapatnam, Vijayawada, and Hyderabad shall be eligible to avail the benefit of the scheme. 
What are the Documents needed for Pavala Vaddi MSME Scheme AP?
  • Photograph of the applicant
  • Aadhar card
  • Project reports/Business Plan
  • Registration no. of the concerned unit 
  • Utility/electricity bill
  • PAN Card

In the above list, a Business plan also known as a project report is a crucial document when applying for a bank loan. The bank uses this document to analyze the overall feasibility, risks, financial viability, and potential of a project. Also, a well-crafted and convincing project report increases the chances of loan approval. With Finline you can craft a compelling project report in less than 10 minutes. That too in your language. All public and private sector banks working in India accept our reports. Click to create your project report.

How to apply for the Pavala Vaddi Scheme?

Visit the following website to register and learn more about the application process of the scheme and then log in by selecting the Pavala Vaddi button after registration

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Loan Schemes

Kudumbashree Micro Enterprise Development

On August 27, 2020, Chief Minister Pinarayi Vijayan declared the Kerala Athijeevanam Keraleeyam Scheme. The state government will utilize its CM Local Employment Assurance Programme (LEAP) to execute this scheme. Kudumbashree Micro Enterprise development programme is proposing to introduce the Kerala Athijeevanam Keraleeyam Project. Altogether 50k people are expected to benefit from the Kudumbashree Micro Enterprise development programme. The Kerala Athijeevanam Keraleeyam Scheme includes the KMEDP as a key component. This will result in the establishment of 3,000 individual businesses and 2,000 group businesses. Until then, Kudumbasree members and their families would not be able to start their own businesses. More than ten thousand people will gain from the scheme.

What are the Benefits of the Kudumbashree Micro Enterprise Development Programme?
  • Loans of up to a maximum of Rs. 2.5 lakh shall be granted for individuals to set up their own venture.
  • Venture and groups can avail the benefit of up to 10 Lakh
  • The youth will be provided with appropriate training in the skills needed for the job.
  • Free of cost training will be provided.
What are the Eligibility for the Kudumbashree Micro Enterprise Development Programme?
  • The applicant must be a permanent residents of Kerala state
  • The age of the applicant must range between 18 years to 35 years.
  • Applicant should hail from a poor family
  • Applicants belonging to Scheduled Tribe (ST) and differently-abled categories will get a 10-year age relaxation
What are the Documents needed for the Kudumbashree Micro Enterprise Development Programme?
  • Aadhar Card
  • Identity Card
  • Business Plan/Project Report
  • Ration card
  • Residence certificate
  • Income certificate
  • Passport size photo
  • Mobile number
  • Differently-Abled Certificate (if applicable)
  • Caste Certificate (if applicable)

In the above list, a Business plan also known as a project report is a crucial document when applying for a bank loan. The bank uses this document to analyze the overall feasibility, risks, financial viability, and potential of a project. A well-crafted and convincing project report increases the chances of loan approval. With Finline you can craft a compelling project report in less than 10 minutes. That too in your language. All the public and private sector banks working in India accept our reports. Click to create your project report.

How to apply for the KMEDP?

Visit the following website to fill out the application form and choose the KMEDP component of the Athijeevanam Keraleeyam Scheme.

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Loan Schemes

Mukhyamantri Rojgar Srijan Yojana Loan Scheme, (Jharkhand) 2021

The Government of Jharkhand has recently launched the Chief Minister Employment Generation Scheme. Under this scheme, the Government of Jharkhand will provide financial assistance to its people. Through this scheme, Unemployed youth of the state can take loans without a guarantee for setting up their business.  A provision of a loan of up to Rs 25 lakh has been made to promote entrepreneurial skills to the youth in rural and urban areas of the state.

What are the Benefits of the Mukhyamantri Rojgar Srijan Yojana Loan Scheme?
  • Under the scheme, unemployed youth living in urban and rural sectors (Scheduled Castes, Scheduled Tribes, Divyaang, Backward Classes) can avail loans at affordable interest rates to start their business.  (Applicable for the MSMEs)
  • Under this scheme, one can take a loan of 50 thousand rupees without any guarantee.
  • One can avail a loan of up to Rs 25 lakh during the plan. He/she will also be given a subsidy of up to 40% on taking the loan.
  • The amount of the grant shall not exceed 5 lakh. 
What are the Eligibility Criteria for the Mukhyamantri Rojgar Srijan Yojana Loan Scheme?
  • The age of the person must be between 18 years to 45 years
  • The person applying for the scheme must be a resident of Jharkhand.
  • The individual’s family income should be less than Rs 5 lakh.
  • Sakhi Mandal can also benefit, under the scheme. 
  • There is no requirement for any guarantee on loans up to Rs 50 thousand under this scheme.
What are the Documents Required for Mukhyamantri Rojgar Srijan Yojana Loan Scheme?
  • Aadhar card
  • Ration card
  • Proof of age
  • Project Report/Business Plan
  • Caste certificate of the applicant
  • Passport size photograph
  • Mobile number
  • Income Address
  • Bank account details
  • Proof of address (Electricity Bill, etc.)

In the above list, a Business plan also known as a project report is a crucial document when applying for a bank loan. The bank uses this document to analyze the overall feasibility, risks, financial viability, and potential of a project. A well-crafted and convincing project report increases the chances of loan approval. With Finline you can craft a compelling project report in less than 10 minutes. That too in your language. Also, our reports are accepted by all public and private sector banks working in India. Click to create your project report.

How to apply for the Mukhyamantri Rojgar Srijan Yojana Loan Scheme? 

One has to approach any of the following, in order to avail the benefit of the scheme. 

  • Jharkhand State Tribal Cooperative Development Corporation
  • State minority finance and development corporation
  • Jharkhand State Scheduled Caste Cooperative Development Corporation
  • District Welfare Officer
  • Jharkhand State Backward Classes Finance and Development Corporation