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
Various stakeholders such as start-ups,
agri-entrepreneurs, farmers, Agricultural
Produce Market Committee (APMC),
Farmer Producers Organization (FPO),
and others are eligible to apply for the
Agriculture Infrastructure Fund scheme.
For further information, reach out to Abtik
Services.
Primary Processing (Sorting
Grading, cleaning, Drying Packaging,
Storage) of Agriculture products like
(Cereals & Millets, Fruits and
Vegetables, Spices, cotton, Tea, coffee,
Oilseeds, pulses, Sugarcane, Coconut,
Jute, Nuts, Herbal, Medicinal Plant and
Aromatic Crops.
If any client is involved in the
production of agriculture equipment
(Tractor, Rotavator, Cultivator) then it
is not eligible, but if the client rents the
minimum 5 equipment (Tractor,
Rotavator, Cultivator) to farmers then
it will be eligible.