West Bengal is known for its diverse industries and the government offers various loan schemes to support the growth of MSMEs in the state. These loan schemes aim to provide financial assistance to entrepreneurs, promote innovation, create employment opportunities, and enhance the competitiveness of the MSME sector. In this blog, we will discuss some of the loan schemes available for MSMEs in West Bengal.
- West Bengal State Financial Corporation (WBSFC) Term Loan Scheme
The West Bengal State Financial Corporation (WBSFC) Term Loan Scheme offers financial assistance to entrepreneurs in the MSME sector. The loan can be used for the purchase of land, building, machinery, equipment, and working capital. The scheme is available for both new and existing enterprises in the manufacturing and service sectors aimed at expansion of the state economic outlook and ambit.
| Scheme Name | Gender | Qualification | Age Group | Social Category | Industry Profile | Rural/Urban | State/Central Govt. |
|---|---|---|---|---|---|---|---|
| WBSFC Term Loan Scheme | All | Higher Secondary | 18 above | NA | Manufacturing and Service Sectors | Both | State |
- West Bengal Minorities Development and Finance Corporation (WBMDFC) Loan Scheme
The West Bengal Minorities Development and Finance Corporation (WBMDFC) Loan Scheme aims to provide financial assistance to entrepreneurs belonging to minority communities in the state. The loan can be used for the purchase of land, building, machinery, equipment, and working capital. The scheme is available for both new and existing enterprises in the manufacturing and service sectors.
| Scheme Name | Gender | Qualification | Age Group | Social Category | Industry Profile | Rural/Urban | State/Central Govt. |
|---|---|---|---|---|---|---|---|
| WBMDFC Loan Scheme | All | 12th pass, Preferably Graduate | 18 above | Minority Communities | Manufacturing and Service Sectors | Both | State |
- West Bengal Backward Classes Finance and Development Corporation (WBCFDC) Loan Scheme
The West Bengal Backward Classes Finance and Development Corporation (WBCFDC) Loan Scheme aims to provide financial assistance to entrepreneurs belonging to backward classes in the state. The loan can be used for the purchase of land, building, machinery, equipment, and working capital. The scheme is available for both new and existing enterprises in the manufacturing and service sectors.
| Scheme Name | Gender | Qualification | Age Group | Social Category | Industry Profile | Rural/Urban | State/Central Govt. |
|---|---|---|---|---|---|---|---|
| WBCFDC Loan Scheme | All | Higher Secondary | 18 and above | Backward Classes | Manufacturing and Service Sectors | Both | State |
- West Bengal State Handloom Weavers’ Cooperative Society Ltd. (TANTUJA) Credit Assistance Scheme
The West Bengal State Handloom Weavers’ Cooperative Society Ltd. (TANTUJA) Credit Assistance Scheme provides credit assistance to handloom weavers in the state. The loan can be used for the purchase of raw materials, equipment, and working capital. The scheme is available for both new and existing handloom weavers.
| Scheme Name | Gender | Qualification | Age Group | Social Category | Industry Profile | Rural/Urban | State/Central Govt. |
|---|---|---|---|---|---|---|---|
| TANTUJA Credit Assistance Scheme | Both | Not Relevant | 18 and above | Handloom Weavers | Handloom | Both | State |
- West Bengal Transport Subsidy Scheme:
This scheme aims to provide subsidy on the transportation of raw materials, finished goods, machinery, and equipment. The subsidy is given to both new and existing MSME units. The subsidy rate is 50% of the transportation cost, subject to a maximum of INR 1.5 lakh per year.
| Scheme name | Gender | Qualification | Age group | Social category | Industry profile | Rural/Urban | State Govt/Central Govt. |
|---|---|---|---|---|---|---|---|
| West Bengal Transport Subsidy Scheme | Not specified | 10th pass | 18+ | Not specified | Manufacturing | Both | State Govt. |
- West Bengal Incentive Scheme:
This scheme aims to provide financial incentives for the establishment of new MSME units and the expansion of existing ones. The incentives are given in the form of a subsidy on capital expenditure, interest subsidy, and subsidy on the cost of pollution control measures. The subsidy rate varies from 15% to 75% depending on the location of the unit, industry sector, and the investment made.
| Scheme name | Gender | Qualification | Age group | Social category | Industry profile | Rural/Urban | State Govt/Central Govt. |
|---|---|---|---|---|---|---|---|
| West Bengal Incentive Scheme | Not specified | Not specified | 18 and above | Not specified | All MSMEs | Both | State Govt. |
- Swami Vivekananda Swanirbhar Karmasansthan Prakalpa (SVSKP)
This scheme is aimed at providing self-employment opportunities to women who are from economically weaker sections of society. Women who are aged between 18 and 45 and who have passed at least Class VIII can apply for this scheme. Under this scheme, women are given training in various vocational courses such as tailoring, beauty parlour, handicrafts, etc., and are also provided with a loan to start their own business.
| Scheme Name | Gender | Qualification | Age Group | Social Category | Industry Profile | Rural / Urban | State Govt/Central Govt. |
|---|---|---|---|---|---|---|---|
| Swami Vivekananda Swanirbhar Karmasansthan Prakalpa (SVSKP) | Women Only | At least Class VIII | 18-45 years | Economically Weaker Sections | Various | Both | Rural/Urban |
- Self Help Group Scheme
This scheme is aimed at empowering the SC/ST communities by promoting the formation of self-help groups (SHGs) in the state. The SHGs are provided with a loan and training to start their own businesses. The scheme also provides financial assistance to SHGs for marketing their products and to improve their livelihood.
| Scheme Name | Gender | Qualification | Age Group | Social Category | Industry Profile | Rural / Urban | State Govt/Central Govt. |
|---|---|---|---|---|---|---|---|
| Self Help Group Scheme | SC/ST Only | No specific qualification required | 18-60 years | SC/ST communities | Various | Both | Rural/Urban |
- Ananya Scheme
The Ananya scheme is aimed at providing financial assistance to women entrepreneurs in the state. Women who have completed at least Class VIII and have a business plan can apply for this scheme. Under this scheme, women are provided with a loan to start their own business and are also given training in various business-related skills.
| Scheme Name | Gender | Qualification | Age Group | Social Category | Industry Profile | Rural / Urban | State Govt/Central Govt. |
|---|---|---|---|---|---|---|---|
| Ananya Scheme | Women Only | At least Class VIII | 18 years and above | Not specified | Various | Both | Rural/Urban |
- Tribal Development Cooperative Corporation
The Tribal Development Cooperative Corporation (TDCC) is aimed at promoting the economic development of the tribal communities in the state. Under this scheme, the TDCC provides financial assistance to tribal entrepreneurs for starting their own businesses. The scheme also provides training and marketing support to tribal entrepreneurs.
| Scheme Name | Gender | Qualification | Age Group | Social Category | Industry Profile | Rural / Urban | State Govt/Central Govt. |
|---|---|---|---|---|---|---|---|
| Tribal Development Cooperative Corporation | SC/ST Only | No specific qualification required | 18-60 years | Tribal communities | Various | Both | Rural/Urban |
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.