What is Madhya Pradesh Mukhyamantri swarojgar yojana ?
This is a scheme which offers loan upto 25 lakhs for promoting entrepreneurship in the Madhya Pradesh without the need for collateral security.
Who is eligible for this scheme?
Applicant must be a permanent resident of MadhyaPradesh
Applicant should be of 18 years old
No education qualification for availing the loan
Do I get any subsidy in this scheme?
Yes, 5% Interest subsidy for initial 5 years subject to certain limit.
How much margin money Govt will be raised for this scheme ?
State Government will provide 20% of the project cost as Margin Money or Maximum Rs. 10000 one shot basis for project cost up to Rs. 50000
What is the interest rate for this scheme?
For Loan up to Rs. 10 lac : Bank interest rate+0.50%(Guarantee fee), For Loan above Rs. 10 lac and up to Rs. 25 lac: Bank interest rate +1.00(Guarantee fee), %
Who are the implementing agencies for this scheme in the state?
Panchayat and Rural Development Department for Rural Areas and Department of Commerce, Industries and Employment for Urban Areas.
What is the guarantee fee for this scheme and how its been allocated?
Guarantee fee is the fee paid to the Govt: for being the guarantor for the entrepreneur before bank. In this scheme two type of Guarantee fees are there
For loan upto 50,000/- 1% of the loan amount for the first year and @0.50% for next 4 years, or up to closure of account whichever is earlier shall be reimbursable from State Government. Rest 0.50% for 4 years, or up to closure of account whichever is earlier will be borne by the Bank.
For loan from 50,000 to 25 lakhs – 1% of the loan amount for the first year and @0.75% for next 4 years, or up to closure of account whichever is earlier shall be reimbursable from State Government. Rest 0.25% for 4 years, or up to closure of account whichever is earlier will be borne by the Bank.
What are the documents needed for this loan?
If you are eligible you can go to the nearest nationalized bank, regional rural banks, state cooperative banks and other scheduled banks and can collect the application form or contact your nearest district industrial cell or can download the application form from the official website and fill the details along with documents and a project reportof the business and can submit the details to the bank itself.
How can I create a project report for Uttarakhand Mukhyamantri swarojgar yojana?
You can create the project reportthrough Finline. Either you can create the report by your self or can seek the help of an expertto create the report for you.