Under the Indian government and MSME (Micro, Small, and Medium Enterprises) sector,
there are several loan schemes available to support new businesses. Here are some notable loan schemes:
- Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE):
- Provides collateral-free loans up to Rs. 2 crore to micro and small enterprises.
- Facilitates loans for working capital requirements, purchasing machinery, and business expansion.
- Offers credit facilities through partner lending institutions like banks and financial institutions.
- Prime Minister’s Employment Generation Programme (PMEGP):
- Promotes self-employment opportunities in rural and urban areas.
- Offers financial assistance for setting up new micro-enterprises.
- Provides loans up to Rs. 25 lakh for manufacturing and up to Rs. 10 lakh for service or business enterprises.
- SIDBI Make in India Soft Loan Fund for Micro, Small, and Medium Enterprises (SMILE):
- Supports MSMEs in the manufacturing and service sectors.
- Offers soft loans for technology upgradation, business expansion, and infrastructure development.
- Provided by the Small Industries Development Bank of India (SIDBI).
- Stand-Up India Scheme:
- Encourages entrepreneurship among women and SC/ST communities.
- Facilitates loans ranging from Rs. 10 lakh to Rs. 1 crore for setting up greenfield enterprises.
- Available through scheduled commercial banks.
- National Small Industries Corporation (NSIC) Subsidy Schemes:
- NSIC offers various schemes, including raw material assistance, marketing support, credit rating services, and single point registration for government purchase.
- Aims to enhance competitiveness and growth prospects for small businesses.
- Pradhan Mantri Mudra Yojana (PMMY):
- Provides loans up to Rs. 10 lakh to micro and small enterprises.
- Categorizes loans into three segments: Shishu (up to Rs. 50,000), Kishore (Rs. 50,001 to Rs. 5 lakh), and Tarun (Rs. 5,00,001 to Rs. 10 lakh).
- Facilitated through various banks and financial institution