PMEGP Loan
Banks sanction funding up to 90% to 95% (special category) of the project cost. On this, the government provides 15% to 35% as margin money or PMEGP subsidy. The remaining 60% to 75% is provided by the bank as a term loan. Interest rates are regular as per the prevailing Bank rates.
Overview
PMEGP is an initiative of the Ministry of Micro, Small and Medium Enterprises and is implemented at a national level by the Khadi and Village Industries Commission (KVIC). As an entrepreneur, PMEGP can give you the financial assistance required to set up a new project. Read on to know more about the PMEGP scheme.
Objectives. To generate employment opportunities in rural as well as urban areas of the country through setting up of new self-employment ventures/projects/micro enterprises.
ELIGIBILITY CRITERIA
- Property firm or Individual
- Green Field or Startup Business
- MSME Registered Firm
- CIBIL Shoud Be Good
- All KYC Document Required
BENEFITS
- Subsidy Up to 35 %
- Loan Up to 50 Lakh
- Coll-letter free Loan
- Project Based Landing
- Low Rate Of Interest
Required Document
- Adhar card ,Pan Card , MSME Certificate
- Bank Account Details
- Passport Size Photo
- Education Certificate
- Electricity Bill
FAQs
Rs.25.00 lakhs for manufacturing unit and Rs.10.00 lakhs for Service Unit
Capital Expenditure Loan, one cycle of working capital and 10% of project cost as own contribution in case of General category and 5% of project cost in case of weaker section.
27 Public Sector Banks ,Regional Rural Banks(RRB), Co-operative Banks and Private Scheduled Commercial Banks approved by respective State Task Force Committee.