Government Best Loans Providing Schemes in India |
Posted: January 19, 2019 |
The government of India in its quest to solve unemployment problems is now providing loan schemes for small scale businesses. This loan can then be used in starting or expanding your business thus acting as a source of livelihood. Any business loan provided under a government programme or scheme is usually favourable since you do not have to worry about high interest rates. In addition to this, you will also be given a grace period before repaying the loan. In this article, we are going to have a look at the best government loans providing schemes that will help in financing your business whether small scale or large scale of Epf India UAN Login. Below is an internet explanation of some of the best government loans providing schemes in India that you can rely on. The Credit Guarantee Fund Scheme of Micro and Small Enterprises The Credit Guarantee Fund Scheme for Micro and Small Enterprises commonly known as CGMSE is one of the well-known government loans providing scheme in India. CGMSE was launched for the main purpose of providing collateral credit. This scheme looks into the needs of both new and existing Enterprises in India. To make sure that every person benefits from this scheme, the government of India has set up a Ministry of Micro, Small and Medium enterprises to monitor the implementation of this project. CGMSE provides loans in the form of working capital facility and term loans of up to Rs.100 lakhs depending on your ability to repay back. Apart from financial help, you will also get rehabilitation assistance whenever you rely on CGMSE. Credit Link Capital Subsidy Scheme for Technology Up gradation (CLCSS) Every enterprise whether small or large scale needs to make use of the latest technology if they are to cut down on production costs. It is for this reason that the Ministry of Small Scale Industries operates a scheme for Small Scale Businesses. This scheme is availed to all partnership firms, Sole proprietorship, private or public limited companies. Any business that makes use of this scheme can get a capital subsidy of 15? to SSI units for any credit that they need to upgrade machinery. National Small Industries Corporation Limited (NSIC) National Small Industries Corporation Limited is tasked with the main responsibility of encouraging small scale industries by importing machines on higher purchase. In addition to this, the scheme also exports the products of Small Scale businesses thus providing a ready market. National Bank for Agriculture and Rural Development The National Bank for Agriculture and Rural Development looks into the needs of agriculture-based rural businesses. This government scheme mainly offers assistance to village industries and any other cottage industry. Other government loan providing schemes in India include:
With these schemes, small scale Industries in India will never again encounter issues when it comes to competing with other Enterprises in the industry.
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