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Top 10 MSME and Startup Business Loans by Government of India :
The Micro, Small, & Medium Enterprises (MSMEs) contribute to 29% of India’s GDP, and are accountable for nearly half of the nation’s exports. On the opposite hand, startups have been mushrooming throughout the nation and are an enormous contributor to taking India increased on the worldwide pedestal. India has change into the third-largest startup ecosystem on this planet after the US and China.
Did that India has greater than 7.9 million micro, small and medium enterprises (MSMEs) as of 27 March 2022, in keeping with the Ministry of Micro, Small & Medium Enterprises?
Pradhan Mantri Mudra Yojana
Stand Up India Scheme
Credit Guarantee Fund Scheme for Micro and Small Enterprises
Small Industries Development Bank of India
Udyogini
Coir Udyami Yojana
Bank Credit Facilitation Scheme
(*10*) Finance Scheme
Credit-Linked Capital Subsidy Scheme (CLCSS)
National Bank for Agriculture and Rural Development
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How To Register For Government Loan Schemes?
Applying for the MSME and startup enterprise loans supplied by the Government of India is similar to different loans. There are two methods to go about it:
You can go to the lender’s web site and fill within the on-line utility type. You might be required to submit all needed paperwork both on-line or offline, relying on the lender’s guidelines.
You can go to the lender’s offline/bodily department and fill out their utility type and the required paperwork.
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Common Eligibility Criteria to Register for a Startup Business Loan by The Government of India
In addition to the particular eligibility standards for every lender, there are a couple of widespread eligibility necessities that MSMEs and startups trying for enterprise loans want to meet. These are:
The firm shouldn’t be older than 5 years within the case of current enterprises
The whole turnover of the enterprise shouldn’t be greater than INR 25 crores
Only Limited Liability Partnerships or Private Limited firms are eligible for these loans
Eligible candidates must also have approval for DIPP (Department of Industrial Policy and Promotion)
A patron assure from the Indian Patent and Trademark Office is a should to qualify for Government startup loans
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