Did you realize that there are more than 2.5 lakh MSMEs in Uttarakhand that play a major role in the economy and employment opportunities of the state? The government has established a number of Uttarakhand MSME business loan schemes to support the growth of the enterprise by helping small businesses gain access to finance at reasonable cost.
These schemes provide the financial assistance you require whether starting off a new venture or growing an already established one. Here in this blog, we will discuss the best loan schemes, eligibility, and benefits, and how to apply all the things you need to know to unleash the potential of your MSME in Uttarakhand.
What Are the Top Uttarakhand MSME Business Loan Schemes?
Do you want to launch or expand your business in Uttarakhand? As there is increased interest in entrepreneurship, the state has brought in a number of schemes of MSME in Uttarakhand to promote small and medium enterprises. Whether it is tourism or manufacturing, a variety of sectors are now getting access to specific funding support.
The Uttarakhand government schemes for business are meant to provide easy credit to the startups and disadvantaged groups. As an example, a business loan for women entrepreneurs can be taken to start and grow their business. Likewise, the Uttarakhand tourism loan scheme provides loans and subsidies that are flexible to the tourism-related business. This blog will discuss the best loan programs that all MSMEs in the state must be aware of. Here, you can check the best Uttarakhand MSME business loan schemes:
- Mukhya Mantri Swarozgar Yojana Uttarakhand
- Mukhyamantri Saur Swarojgar Yojna
- Deendayal Upadhyay Home Stay Loan Scheme Uttarakhand
- Veer Chandra Singh Garhwali Tourism Self-Employment Scheme Uttarakhand
- Uttarakhand Chief Minister Self Employment Scheme Very Micro (Nano)
- Uttarakhand Startup Seed Fund
- PM SVANidhi Scheme
- PM Vishwakarma Scheme
Mukhya Mantri Swarozgar Yojana Uttarakhand
As a part of Uttarakhand MSME business loan schemes the Mukhya Mantri Swarozgar Yojana (MMSY) is a state government scheme that aims to provide financial assistance to unemployed youth and help them start their businesses. This scheme focuses on people who came back to Uttarakhand due to COVID-19 and are currently unemployed. Another main objective of this scheme is to stop migration from hilly and rural areas in search of jobs. The following are some of its features:
| Loan amount | Rs. 10 lakh (maximum) |
|---|---|
| Age | Minimum 18 years |
| Qualification | No specific qualification |
| Selection of beneficiaries | First Come First Serve |
Mukhyamantri Saur Swarojgar Yojna
The main objective of the scheme is to provide self-employment opportunities to such small and marginal farmers and unemployed residents of the state to encourage them to develop sources of income by setting up solar power plants on land that is not suitable for agriculture and selling the electricity produced to UPCL. As part of Uttarakhand MSME business loan schemes, this initiative stands out among the leading Uttarakhand government schemes for business. Under this scheme, only solar power plants of 20/25/50/100/200 kilowatt capacity will be allowed. The following are some of its features:
| Age | Minimum 18 years |
|---|---|
| Residential status | Permanent |
| Interest Rate | 8% |
| Qualification | No specific qualification |
| Application fee | Rs.2,000 to Rs.5,000 |
Deendayal Upadhyay Home Stay Loan Scheme Uttarakhand
The Uttarakhand government introduced this scheme to provide an unprecedented experience to the domestic and foreign tourists visiting Uttarakhand as well as for the prosperity of the local people. As part of the Uttarakhand MSME business loan schemes, this is one of the best MSME schemes in Uttarakhand that is perfectly tailored for the people of Uttarakhand. Through this scheme, the government will provide loans for setting up homestays/renovating the house. The main aim is to stop the continuous migration in the state as well as to provide employment. The following are some of its features:
| Eligibility | A minimum of one and a maximum of six rooms have been arranged for the guests who are native/permanent residents of Uttarakhand and reside in a building with their family, whose building is outside the limits of the Municipal Corporation. |
|---|---|
| Residential status | Native/Permanent |
| Loan subsidy in Plain areas | 25% of the project cost or Rs 7.50 lakh (whichever is less) |
| Loan subsidy in Hilly areas | 50% of the project cost or Rs 15.00 lakh (whichever is less) |
Veer Chandra Singh Garhwali Tourism Self-Employment Scheme Uttarakhand
Uttarakhand MSME business loan schemes offer great opportunities for entrepreneurs in the tourism sector. Uttarakhand is a state with a lot of potential in tourism. As the name of the scheme suggests, the main objective of this Uttarakhand tourism loan scheme is to promote tourism in Uttarakhand. This scheme provides loans to young entrepreneurs who are interested in starting a business related to tourism. The following are some of its features:
| Residential status | Native/Permanent |
|---|---|
| Non-vehicular items | 33 percent maximum grant of Rs. 33.00 lahks is approved by the Tourism Department in hilly areas and a 25 percent maximum of Rs. 25.00 lakhs in plain areas as a grant for non-vehicular items |
| Vehicle items | 25 percent maximum of Rs 10.00 lakh in hilly and plain areas |
| Eligibility | Should not be a defaulter of any bank |
Uttarakhand Chief Minister Self Employment Scheme Very Micro (Nano)
All entrepreneurs who require very minimal funds to kickstart their business can avail this scheme under Mudra Loan Scheme (Shishu) in Micro Micro (Nano) Enterprises under Mukhyamantri Swarozgar Yojana with minimum formality. The following are some of its features:
| Age | 18-65 years |
|---|---|
| Qualification | No specific qualification |
| Residential status | Native/Permanent |
| Loan amount | Maximum Rs.50,000 |
Uttarakhand Startup Seed Fund
The Uttarakhand MSME Business Loan Schemes have now extended to the Startup Seed Fund which is a visionary program under the Uttarakhand government schemes of business. The goal of this scheme is to assist young innovative startups during their initial phases with the help of important financial and technical assistance. It promotes entrepreneurship in all sectors particularly amongst the young people and first time business people. The aim is to assist startups to go through their early stage, optimize their business models, and grow sustainably in the state.
Key Features:
- Qualification: Registered as an MSME in Uttarakhand
- Eligibility: Individuals or teams with innovative ideas
- Grant: Up to ₹10 lakh for prototype or MVP development
- Loan: Seed loan up to ₹25 lakh
- Equity Support: Up to 25% matching equity
- Mentorship: Access to state-supported incubation and industry mentors
PM SVANidhi Scheme
One of the most effective Uttarakhand MSME business loan schemes is the PM SVANidhi Scheme (Prime Minister Street Vendor AtmaNirbhar Nidhi) which aims to assist street vendors. This scheme is a collateral-free working capital loan scheme launched by the Ministry of Housing and Urban Affairs to enable small vendors to restart and expand their business particularly following the economic shocks brought by COVID-19.
It targets street vendors, who work in cities and rural areas and makes them revive their business and develop an interest in digital payments by providing them with cashback and incentives. This is particularly useful to small vendors who are self-employed selling vegetables, fruits, tea, street foods, etc.
Key Features:
- Qualification: Registered street vendors only
- Eligibility: Vendors with certificate of vending
- Loan Amount: Up to ₹10,000, repayable in 12 months
- Interest Subsidy: 7% for timely repayment
- Digital Incentives: Cashback on digital transactions
- Renewal: Eligible for increased loan amount on repayment
PM Vishwakarma Scheme
The PM Vishwakarma Scheme is one of the Uttarakhand MSME business loan schemes that assist the artisans and traditional tradespeople in the state. This project is set to empower talented people who are involved in ancient arts like carpentry, blacksmithing, tailoring, weaving, pottery and so on. The scheme provides subsidized business loans, access to modern skill training, toolkits and digital payment onboarding to the eligible beneficiaries to enhance business efficiency.
The scheme is also able to offer the marketing support in addition to the financial support to enable these small-scale entrepreneurs to access the larger markets. The vision is to retain the traditional skills and to enable the artisans to develop sustainable livelihood by having formal access to finance and growth opportunities.
Key Features:
- Qualification: Skilled artisans or traditional tradespeople
- Eligibility: Native residents with proof of trade
- Loan Amount: Toolkits worth ₹15,000 + working capital loan
- Interest Rate: 5% with government support
- Training Support: ₹500 daily stipend during training
- Additional Support: Branding, digital training, and market access
Why Should Choose Finline for Best Project Reports for Bank Loans?
The correct Uttarakhand MSME business loan schemes can be the point of turning to the small businesses, which hope to develop in the hills and plains of this remarkable state. Tourism, homestays, farming, and local ventures are some of the schemes that provide the financial boost that entrepreneurs require. However, a good project report is a requirement in order to get these loans.
That’s where Finline makes it simple. Just like Canva—but for financials—Finline helps you create professional project reports for loans and investments in just minutes, and in your preferred language. Whether you’re applying to a public or private sector bank, your Finline report will be accepted.
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