पात्रता

Only For New Entrepreneurs

Eligible Entities

Business owners, Entrepreneurs  MSMEs,  & Self Help Groups (SHGs)

पात्रता

i)           This scheme is eligible for new project. Existing/Old units are not eligible.

ii)          Units registered under MSME (Udyam Adhar).

iii)        Only one person from one family is eligible. (Family included Self and her spouse).

Age Criteria

Above 18 years

Educational Qualification

Minimum 8^th Pass std.

Maximum project Cost

Rs. 50 lakh for Manufacturing Unit

Rs. 20 lakh for Service Unit

Loan period

3 to 7 years.

Margin

Subsidy on Project

From 15% to 35%

Subsidy :

व्याज दर

Processing Fee

1.00% on sanction amount.

Other

Conditions

·         After receiving the Margin money (Subsidy) it should be kept in the form of Term Deposit for three years.

·         No interest will be paid on the TDR and no interest will be charged on loan to loan up to the extent of TDR amount.

·         After completion of three years TDR amount will be transferred/credited to term loan account.

·         If unit is closed before completion of three years subsidy amount will be refunded/ remitted to the KVIC.

·         In case the account becomes NPA within three years period, due to reasons, beyond the control of the beneficiary, the margin money (subsidy) will be adjusted / credited in loan account.

·         In case of action for recovery is taken, such recovery will be utilised for liquidation of outstanding loan. Any surplus will be remitted to KVIC.

Bank

Finance

·         For manufacturing units, working capital (CC) should not be more than 40% of the project cost.

·         For service/Trading sector, working capital (CC) should not be more than 60% of the project cost.

·         Projects without Capital Expenditure are not eligible for financing under the scheme.

·         Cost of land should not be included in the project cost.

Negative List