Jammu and Kashmir is a union territory that is home to a large number of micro, small, and medium enterprises (MSMEs). The government of Jammu and Kashmir has implemented several loan schemes to support the growth and development of these enterprises. In this blog, we will discuss some of the most popular loan schemes available for MSMEs in Jammu and Kashmir.
- J&K Entrepreneurship Development Institute (JKEDI) Loan Scheme:
This loan scheme is initiated by the Jammu and Kashmir government’s Entrepreneurship Development Institute (JKEDI). Under this scheme, entrepreneurs can get loans up to Rs. 50 lakhs to establish or expand their businesses. The scheme is available to all categories of entrepreneurs and requires them to submit a detailed project report to avail the loan.
| Scheme Name | Gender | Qualification | Age Group | Social Category | Industry Profile | Rural/Urban | State Govt/Central Govt |
|---|---|---|---|---|---|---|---|
| JKEDI Loan Scheme | Male/Female | NA | NA | NA | MSMEs | Both | State Govt |
- National Small Industries Corporation (NSIC) Loan Scheme:
The NSIC loan scheme is available for MSMEs in Jammu and Kashmir. The scheme provides financial assistance in the form of loans and credit facilities for starting and expanding small businesses. Under the scheme, MSMEs can get loans up to Rs. 50 lakhs, and the interest rate varies depending on the business’s creditworthiness.
| Scheme Name | Gender | Qualification | Age Group | Social Category | Industry Profile | Rural/Urban | State Govt/Central Govt |
|---|---|---|---|---|---|---|---|
| NSIC Loan Scheme | Male/Female | NA | NA | NA | MSMEs | Both | Central Govt |
- Jammu and Kashmir Bank Loan Scheme:
The Jammu and Kashmir Bank offers a range of loan schemes for MSMEs, including term loans, working capital loans, and equipment loans. The bank provides loans up to Rs. 5 crores, and the interest rate is based on the business’s creditworthiness and the type of loan availed.
| Scheme Name | Gender | Qualification | Age Group | Social Category | Industry Profile | Rural/Urban | State Govt/Central Govt |
|---|---|---|---|---|---|---|---|
| J&K Bank Loan Scheme | Male/Female | NA | NA | NA | MSMEs | Both | State Govt |
- Seed Capital Fund Scheme
Under this scheme, the Jammu & Kashmir State Financial Corporation (SFC) provides seed capital to new enterprises with a maximum loan amount of up to Rs. 50 lakhs. The scheme is aimed at encouraging first-generation entrepreneurs and promoting the growth of MSMEs in the state. The loan can be used for acquiring land, machinery, equipment, working capital, and other purposes. The scheme is available for all eligible individuals and enterprises in both urban and rural areas of Jammu & Kashmir.
| Scheme name | Gender | Qualification | Age group | Social category | Industry profile | Rural / Urban | State govt/Central Govt |
|---|---|---|---|---|---|---|---|
| Seed Capital Fund Scheme | Any | Not specified | Up to 50 years | Not specified | Innovative MSME projects | Both | State govt |
- Credit Linked Capital Subsidy Scheme (CLCSS)
The Credit Linked Capital Subsidy Scheme aims to provide capital investment subsidies to eligible MSMEs for upgrading and modernizing their production equipment and technology. The scheme is open to all eligible MSMEs in Jammu & Kashmir. Under this scheme, eligible enterprises can avail of a 15% capital subsidy on their investment in plant and machinery, subject to a maximum of Rs. 15 lakhs. The scheme is available for both urban and rural MSMEs in Jammu & Kashmir.
| Scheme Name | Gender | Qualification | Age Group | Social Category | Industry Profile | Rural/Urban | State Govt./Central Govt. |
|---|---|---|---|---|---|---|---|
| Credit Linked Capital Subsidy Scheme (CLCSS) | Any | Not specified | Not specified | Not specified | All industries | Rural/Urban | Central Govt. |
- Mahila Udyam Nidhi Scheme:
This scheme aims to provide financial assistance to women entrepreneurs in Jammu and Kashmir to start or expand their own micro or small enterprise. Under the scheme, the maximum loan amount is Rs. 10 lakhs, and the interest rate is up to 9.35%. The repayment period can be up to 10 years, and collateral security is not required for loans up to Rs. 2 lakhs.
| Scheme Name | Gender | Qualification | Age Group | Social Category | Industry Profile | Rural/Urban | State/Central Govt |
|---|---|---|---|---|---|---|---|
| Mahila Udyam Nidhi Scheme | Women | 8th standard pass | 18 – 55 years | All categories | All industries | Rural/Urban | Central Govt |
- Anusuchit Jati Shiksha Udyami Yojana:
This scheme is aimed at providing financial assistance to SC/ST entrepreneurs in Jammu and Kashmir to start their own business in the education sector. Under the scheme, the maximum loan amount is Rs. 15 lakhs, and the interest rate is up to 6%. The repayment period can be up to 7 years, and collateral security is not required for loans up to Rs. 2 lakhs.
| Scheme Name | Gender | Qualification | Age Group | Social Category | Industry Profile | Rural/Urban | State/Central Govt |
|---|---|---|---|---|---|---|---|
| Anusuchit Jati Shiksha Udyami Yojana | SC/ST | 10th standard pass | 18 – 50 years | All categories | Education industry | Rural/Urban | State Govt |
- Mahila Shakti Kendra Scheme:
This scheme aims to empower women in rural areas of Jammu and Kashmir by providing them with opportunities to start their own business. Under the scheme, financial assistance is provided for the establishment of small enterprises, and training and skill development programs are organized for women. The scheme also focuses on creating awareness about government programs and schemes that can benefit women entrepreneurs
| Scheme Name | Gender | Qualification | Age Group | Social Category | Industry Profile | Rural/Urban | State/Central Govt |
|---|---|---|---|---|---|---|---|
| Mahila Shakti Kendra Scheme | Women | Any | 18 – 45 years | All categories | All industries | Rural | Central Govt |
- Anusuchit Jaati Nai Roshni Yojana:
This scheme aims to promote entrepreneurship among SC/ST women in Jammu and Kashmir. Under the scheme, financial assistance is provided for setting up micro and small enterprises, and training and skill development programs are organized for women. The maximum loan amount is Rs. 5 lakhs, and the interest rate is up to 6%.
| Scheme Name | Gender | Qualification | Age Group | Social Category | Industry Profile | Rural/Urban | State/Central Govt |
|---|---|---|---|---|---|---|---|
| Anusuchit Jaati Nai Roshni Yojana | Women | Any | 18 – 50 years | SC/ST | All industries | Rural/Urban | State Govt |
At Finline, we understand the importance of a well-prepared project report for MSMEs and entrepreneurs. Our project report creation service can help them in availing loans easily by creating a comprehensive and professional report that meets the requirements of various lending institutions. Our team of experts can provide assistance in preparing project reports for various schemes mentioned above and many others.