ElisaThomas

1
MSME Loan Scheme 2021

• Micro small medium enterprises MSME loan scheme
  2021 initiated by government of India to support
  young generation entreprenuers by providing
  financial assistance.
• The government of India has launched numerous
  micro-small medium enterprises MSME Loan Scheme
  to entrepreneurs, initiating all possible ways to
  support new business youngers by financial
  assistance.

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Key features of MSME Loan

• Get a loan ranging from 5 lakh to 2 Crore.
• MSME Loan for new business is also funded.
• Collateral free loan is available under this
  credit facility.
• MSME Loan interest rate are much affordable as
  compared to other loan.
• Let's have a glimpse of MSME Loan Scheme below-

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PMMY Mudra Yojana

• Government of India has initiated Pradhan Mantri
  mudra yojana to promote SC, ST Women
  entrepreneurs falling under micro-unit to get
  financial assistance at affordable rates.
  Generally, Mudra loan is divided into 3
  categories named Shishu, Tarun Kishor.
• Eligibility Criteria - Applicant should be above
  18 years less than 65 years of age at the time
  of loan application, credit facility offered to
  non-farm income-generating activities such as
  manufacturing, trading, processing other
  Servies units.
• Loan Amount -Mudra Loan credit facility covers
  upto 10 lacs requirements.

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Prime Minister Rozgar Yojana (PMRY)

• One of the programme launched by Government of
  India is Prime Minister Rozgar Yojana (PMRY) to
  provide financial assistance to the young
  generation entrepreneurs engaged in
  manufacturing, services trade units. Through
  this credit facility, you can get upto 5 Lacs at
  a low processing fee.
• Eligibility Criteria - Unemployed educated
  individuals are eligible with the age criteria of
  18 to 35 years of age at the time of loan
  application. Apart from these, there are certain
  relaxations allowed for SC/ST, handicapped,
  Ex-serviceman women entrepreneurs under PMRY
  credit scheme.
• Loan Amount - Under Prime Minister
  Rozgar Yojana (PMRY) scheme applicants get upto 5
  lacs to fulfill financial needs.