Financial Assistance Initiatives

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Financial Assistance Initiatives
  • CM Special Assistance Scheme
    • To provide hassle free finance for enabling environment in the state for MSMEs, Startups and NRKs for working capital & asset creation purposes
    • Financial assistance shall be provided to all forms of new and existing entities i.e., proprietorship, partnership, company etc
    • Loan assistance of up to 80% of project cost shall be provided
    • Lending limits shall be Rs. 100 Lakhs to Rs. 500 Lakhs
    • Repayment period of 5 years
    • Moratorium period of 1 year
    • Interest rate of 5.50 % (floating, after 3% interest subvention from Government)
    • Additional 0.5% rebate on prompt repayment of financial assistance
    • Security for the loan shall be exclusive/ pari passu charge over the assets of the unit financed or collateral security
    • Age limit: 18 – 60 years
    • Should have a good CIBIL score i.e., above 650
    • WE Funding
      • To provide financial assistance to existing women entrepreneurs in the manufacturing/service business using industrial machinery/equipment with average turnover of Rs. 10 lakhs and above, for scaling up through expansion, modernization and related diversification
      • Assistance shall be given to proprietorship, partnership firms, limited liability partnerships, private limited companies etc. owned and managed by women
      • Loan assistance of up to 80% of project cost shall be provided
      • Lending limits shall be Rs. 25 Lakhs
      • Interest rate of 7.50%
      • Tenure of loan shall be limited to a maximum of 5-6 years, including a moratorium up to 6 months from the date of sanction of loan
      • Seed Funding
        • To provide seed fund assistance to innovative start-up ventures / potential start ups
        • Loan assistance of up to 90% of initial project cost shall be provided
        • Lending limits shall be Rs. 25 Lakhs
        • Shall be treated as soft loan to the entity
        • Soft loan to be repaid within 3 years
        • Interest rate of 6.50% (i.e., bank rate as on date of sanction)
      • Scale Up Funding
        • For those seed fund assisted start-ups of KSIDC that have successfully completed the product development and have introduced their product in the market, started commercial operations / generating revenues
        • Further financial assistance of up to Rs. 50 lakhs for scaling up their business activities, subject to a maximum of 80% of project cost
        • Scale up support will be given as a soft loan for a period of 3 years
        • Interest rate of 7.00%

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Last Updated on: 27 February 2024
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