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%
