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.
- 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.