Government Business Loan Schemes: The central government is running many schemes for the citizens. In which different schemes are running for different people. People are given benefits of government schemes as per their need. Many schemes also provide financial assistance to people. For example, if someone wants to start a new business, there are many schemes of the Central Government under which loans are given. If you also want to start a new business, then you can also take advantage of these government schemes.
Pradhan Mantri Mudra Yojana
Many schemes are being run for the people by the Central Government. Among these, many schemes of the government are also running to provide benefits to the entrepreneurs. The name of one such scheme is Pradhan Mantri Mudra Yojana. Under this scheme, there is a provision to give loans up to Rs 10 lakh for non-corporate, non-agricultural, small businesses. There are 3 categories of this loan. Which is divided into Shishu, Kishor and Tarun. Shishu loan is up to ₹50,000. Kishore loan ranges from Rs 50,000 to Rs 5 lakh. So, Tarun loan is given from Rs 5 lakh to Rs 10 lakh. To avail the benefits of this scheme, application can be made by visiting the official website of the scheme www.udyamimitra.in.
MSME Loan
Under the government’s MSME loan scheme, a loan of up to Rs 1 crore can be taken for any new or already running business. So that the business can be operated properly. The MSME loan process is quite simple and fast. It takes 8 to 12 days for the entire process of this loan to be completed. MSME loans can be given by all the government and private banks of the country as well as non-banking institutions i.e. NBFC companies.
Stand Up India Scheme
Stand Up India Scheme has been brought by the government to promote women and SC-ST entrepreneurs. Under this scheme, loans ranging from Rs 10 lakh to Rs 1 crore are given. That too without any collateral, this loan is available under a repayment schedule of 7 years. Its moratorium period can be extended up to 18 months. Under this scheme, tax exemption is given for 3 years after starting the business. After this, interest of three percent is charged on the basis of base rate.
Credit Guarantee Fund Scheme
Prime Minister Modi was seen many times encouraging start-up entrepreneurs. Under this, he has also started the Credit Guarantee Fund Scheme. Under which, loans up to Rs 5 crore are given to startup companies without any guarantee. Whatever amount is received in this scheme, only 0.37 percent per year guarantee fee is charged. Let us tell you that earlier it was 2% per year.
