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 to purchase land, buildings, machinery, equipment, and working capital. The scheme is available for both new and existing enterprises in the manufacturing and service sectors aimed at the expansion of the state’s economic outlook and ambit. The following are its main features:

Purpose For Financing Working Capital
Loan limit Need-based Working Capital Term Loan requirement less
margin of 25%.
Repayment period 3 Years
Age group 18 and above
Additional security Liquid collateral securities around 25% of the Working
Capital Term Loan.

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 to purchase land, buildings, machinery, equipment, and working capital. The scheme is available only for existing enterprises. The following are its main features:

Rate of interest Interest @ 6% per annum
Loan limit Maximum up to Rs. 5 lakh 
Age group 18 to 50 years
Repayment period 3-5 years
Security Collateral required loans above 50,000

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. This loan scheme is provided under NBCFDC. The loan can be used to purchase land, buildings, machinery, equipment, and working capital. The scheme is available for both new and existing enterprises in the manufacturing and service sectors. The following are its main features:

Eligibility Members of Backward Classes
Loan limit Rs. 15.00 Lakh
Repayment period 8 years
Rate of interest Interest from 6% – 8% per annum
Age group 18 to 60 years

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. TANTUJA is one central marketing organization (Apex Society) rendering marketing support to Primary Weavers Cooperative Societies and handloom artisans working outside cooperatives through their marketing outlets. The scheme is available for both new and existing handloom weavers. The following are its main features:

Gender Both
Qualification Not Relevant
Age Group 18 and above
Social Category Handloom Weavers

West Bengal Scheme for Small Road Transport Operators (SRTO)

This loan is available to the service sector in West Bengal. This scheme aims to provide financial assistance for acquiring new passenger commercial vehicles and for meeting initial taxes insurance etc. The subsidy is given to both new and existing MSME units. The following are its main features:

Gender Both
Age Group 18 and above
Loan limit 75% of P.C. (Max.)
Sector Service sector only

West Bengal Composite Loan Scheme:

This scheme aims to provide financial incentives to the tiny sectors in West Bengal. Loan available for acquiring fixed assets and working
capital. The interest rate depends upon your business and sector.
The following are some of its features:

Loan limit Rs 1.50 lakh (Max)
Age Group 18 and above
Repayment period 10 years
Gender Both

Swami Vivekananda Swanirbhar Karmasansthan Prakalpa (SVSKP)

The basic objective of the scheme is to provide increased access to credit for the development of rural/urban enterprises by supporting unemployed young individuals and groups of individuals. More stress has been placed on training, especially on trades where the locally available abundant raw materials, wasted due to ignorance, could be utilized for producing finer articles and on traditional crafts where there is sufficient potential. The following are some of its features:

Age Group 18-45 years
Social Category Economically Weaker Sections
Income ceiling Rs.15,000/month for the family
Employment status Unemployed

You can learn more about all the loans mentioned above by clicking this link: msy.uk.gov.in

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