Government giving loans up to 25 lakhs to startups, how to apply?

Ministry of Industry, Commerce and Supply, Department of Industries has requested project proposals for start-up enterprise loans.

Issuing a notification, the department has requested project proposals for loans from startups that have met the criteria as per the Startup Enterprise Loan Fund Procedure, 2079.

It is said that those who have the latest knowledge, thinking, skills and abilities can apply for loans in the department within 21 days. Startups whose paid-up capital is not more than 50 lakhs can apply for loans.

According to the procedure, a loan of up to 25 lakh rupees will be available, the interest rate of which will be only 3 percent. Startups will get a loan of up to 2.5 million rupees at 3 percent interest rate for a maximum period of 7 years without collateral, i.e. by putting their own business as collateral. An entrepreneur cannot make more than one offer.

When applying, a copy of the company or industry registration certificate, a copy of the permanent account number, a copy of the tax payment certificate of the previous financial year and a copy of the citizenship of the official representative of the company or industry should also be sent along with the proposal.

In proposal industry department or [email protected] Can be sent by email. The documents attached with the proposal should be scanned and sent in one PDF file.

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