Many people in the country want to start their own business, be it small or large scale but cannot do it because they do not have enough money, this scheme has been started by the government.
People don't have enough money to do business they can't do business but now government is giving loan up to rupees 50 lakhs and 35% government will give subsidy in that scheme name is PMEGP
Through this, up to one lakh people can take loans and start their businesses, along with this scheme, 25% to 35% subsidy on loans is also provided by the government.
What is PMEGP Loan Scheme?
Govt Launches New Scheme For Youth For Country If You Want To Start A Business Central Govt Launched A New Scheme You All Eligible Person Can Use Your Aadhaar Card To Get PMEGP Loan Govt To Unemployed For Time Limit All youth can start business according to their desire by giving loan. Central government provides this loan through Aadhaar card of eligible person so Aadhaar card is important.
To apply in this scheme the age of applying should be 18 years or above. A person who wants to start his cooking can get loan through this scheme. will have
Benefits of PMEGP Loan Scheme
- The government is focusing on increasing employment in the nation and providing many avenues of income generation among the youth
- The Prime Minister's Employment Generation Program provides loan facilities to individuals who wish to start new startups in the manufacturing and service sector.
- Apart from getting 50 lakh loan, the applicants will also get special training from the authorities related to their profession
- After completing the business skills training the applicants will receive the loan amount in their bank account to start a new business
- The scheme is promoting entrepreneurship among women and minorities and SC and ST categories by providing maximum subsidy on the loan amount.
Eligibility of PMEGP Loan Scheme
- Indian citizens who are above 18 years of age can apply for this scheme
- If you are setting up a manufacturing unit project then you can apply for a maximum loan of 50 lakhs however projects related to the service sector will get a maximum loan of 20 lakhs.
- No educational qualification is required to apply for a maximum loan of Rs 10 lakh for manufacturing units and Rs five lakh for service sector units.
- But if you want to apply for more than your minimum educational qualification should be more than eight passes
- If your unit is already registered under central government or state government subsidy scheme for occupations including PMRY, REGP etc. then you cannot apply
- Candidates belonging to SC ST category Women PH Ex-servicemen and other reserved category candidates will get maximum 35% subsidy in rural areas and 25% subsidy in urban areas.
Required Documents for PMEGP Loan Scheme
- Aadhaar Card
- PAN Card
- Eighth pass certificate
- Certificate of Entrepreneurship Development Program Training
- Project report
- Applicant's identity
- Address proof
- SC ST OBC Minimum Ex-Servicemen Certificate for PHC
- Certificate of academic and technical courses (if any)
- Any other document required by Bank or NBFC
- Duly filled form with passport size photograph
How to Apply Online for PMEGP Loan Scheme?
1. Application for New Business (First Loan)
- First you have to go to the official website of PMEGP
- Then click on Apply for New Unit button in it
- And then fill all the details given in it
- Then click on saheb application date
2.Application for ongoing business (second loan)
- First you have to go to the official website of PMEGP
- Then click on the Apply for Exiting Unit Second Loan button
- And then fill all the details given in it and upload the required documents and proceed for final submission
- Login Form for Registered Applicant of Second Loan Subsidy for Upgrading Existing Business
- Visit the official website of PMEGP Portal
- Enter your user id and password and click on log in
How to Apply Offline for PMEGP Loan Scheme?
- The form and process for applying offline are explained below
- The filled application form will be submitted to the concerned KVIC/KVIB/DIC/Coir board officials of the state On submission the applicant will receive an acknowledgment slip from the concerned KVIC/KVIB/DIC/Coir board office department.
Ministry of Micro, Small and Medium Enterprises has launched a new scheme to provide business loans to individuals in India up to a maximum of 50 lakhs. Eligible beneficiaries can apply online and offline by visiting the official website. Visit our website
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