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How do I get collateral free SME loans for your business in India?

THERE ARE 2 MAIN COLLATERAL Free SME LOANS AVAILABLE

  1. CGTSME;- IN THIS LOAN YOU CAN GET LOAN UPTO 2CR BUT YOU HAVE TO CONTRIBUTE MINIMUM 25% OF PROJECT COST REMAINING WILL BE FINANCED BY BANK AND YOU HAVE TO PAY 1% OF YOUR PROJECT COST EVERY YEAR TO SECURE LOAN WITH OUT COLLATERAL
  2. PMEGP PMEGP is a central govt Scheme for only new entrepreneurs who want to start there manufacturing or service business… its a subsidy Scheme

subsidy will be from 15% to 35% of total approved project cost

owners contribution will be 5% to 10% of total approved project cost

i have availed this loan for my project in banglore

  1. Get ready with the project you want to do
  2. prepare a project report on it
  3. identify the place where you want to start you project
  4. apply online application in kvic website
  5. there will be an interview process by kvic/dic/kvib chosen nodal agency
  6. before interview talk to banks who is ready to give loan to your project
  7. get a communication letter from bank and submit in interview
  8. if your project is selected it will get forwarded to bank
  9. submit all required (asked) documents to bank
  10. bank will process the application and they will do inspection of your project place
  11. bank will sanction the loan.. get sanction later from bank and submite in kvic/kvib/dic
  12. get EDP training
  13. submit EDP training training certificate to kvic/kvib/dic and bank
  14. your subsidy will be sent to bank by govt.

every process/agency/bank has its own operation method

Eligibility

Implementing Agencies

Area of project

documentations are very important to get subsidy

for any further information please email at raghu.pr19@gmail.com

i will help you

Importent Notes :-

  1. Be aware of fraud financing agency (specifically from delhi ) many people called and informed me about they have given money to thees fraud agency's

2. Do not give money to any agents or brokers (hence it is a online process will not work like that)

3. Interest rates will be same as reguler business loan depending on banks 9%to 12% (NOT 4%)

4. Subsidy is max 35% not more than that

5. Max loan amount under pmegp is 25 lakhs not more than that

6. Your own contribution to the project will be 5% to 10% which should be deposited to your business current account in your bank do not give this money to any agents or brokers or financial agency

7. Consultant your bank or kvic / dic/ kvic for any financial advice

8. Do not share your documents with any 3rd party they will miss use it

  • Documentation , proper project report , proper certificates like  Population certificate ,other training certificates.

You can take my consultation regarding pmegp loan process here Pmegp consultation enrolment   


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