Manufacturing Unit Loan Schemes

1. Prime Minister Employment Generation Programme (PMEGP)

Objective:

To generate employment opportunities in rural as well as urban areas of the country through setting up of new self-employment ventures/ projects/ micro enterprises.

Benefits:

Financial assistance to selected candidates in term of bank loan for the margin money to the extent of 15% to 35% of the total project cost.

Eligibility Criteria:

• Any individual, above 18 years of age
• At least VIII standard pass for projects costing above Rs. 10 Lakh in the manufacturing sector and above Rs. 5 lakh in the business/ service sector
• Maximum cost of the project admissible under manufacturing sector is Rs. 25 lakhs and business/ services sector is Rs. 10 lakhs

Subsidy:

• General Category: @ 15% of Project cost in urban area
• SC/ ST/ OBC/ Women/ Minority/ Handicap etc: 25% of the project cost in urban area & 35% in rural area

2. Pradhan Mantri Mudra Yojana

Benefits:

Term Loan and/ or Working Capital loan is provided up to maximum Rs. 10 Lakhs under the following three categories:

Shishu:

• Covering loans up to Rs. 50,000
• Loan tenure is 5 years
• Interest rate range: 10% to 12%

Kishore:

• Covering loans above Rs. 50,000/- and up to Rs.5 Lakhs
• Repayment tenure determined by the bank
• Interest rate range: 14% to 17%

Tarun:

• Covering loans above Rs. 5 Lakhs to Rs. 10 Lakhs
• Repayment tenure decided by the bank
• Interest rate normally starts from 16%

3. Stand Up India

To promote entrepreneurship amongst the SC/ ST and women.

• The rate of interest would be applicable rate of the bank for that category (rating category) not to exceed ((MCLR)+3%+tenor premium)
• The term loan is repayable within 7 years with a maximum moratorium period of 18 months
• The borrowers shall require to bring in minimum of 10% of the project cost as own contribution

4. Bihar Start-Up Policy, 2017

Key Benefits:

• Financial assistance up to Rs. 10 Lakhs per Start-up as interest free loan for 10 years
• Success fee @ 2% of investment to start-ups for mobilizing investment from state registered angel investors
• Facilitation in listing and public issue of Start-ups in collaboration with National Level Stock Exchanges
• Additional 15% incentives for SC and ST entrepreneurs and for women and differently abled persons

5. Chief Minister MSME Cluster Development Scheme

Objective:

To enhance the competitiveness of MSMEs by way of facilitating access to modern technology and providing marketing support through establishment of Common Facility Centers (CFCs)

Benefits:

• Financial Assistance up to 90% of the approved project cost or Max Rs 10 Crore for establishment of CFC
• Support of Project Management Agency (PMA) for various aspects of the project

6. Bihar Industrial Investment Promotion Policy, 2016

Key Benefits:

• 100% reimbursement from Stamp Duty and Registration Fees on Lease/ Sale/ Transfer of Industrial Land/ Shed
• 100% reimbursement of land conversion/ change in land use fees for conversion of agricultural land
• Interest subvention on term loans
• Tax benefits including VAT/GST reimbursement and Electricity Duty reimbursement