PMEGP Loan

PMEGP Loan – Turning Your Ideas into Enterprises

The Prime Minister’s Employment Generation Programme (PMEGP) is a credit-linked subsidy scheme by the Government of India to promote self-employment through the setting up of micro-enterprises in the non-farm sector. Under PMEGP, you can get financial support to start manufacturing or service units, with a substantial government subsidy to reduce your repayment burden.

Why Choose PMEGP Loan

• Government subsidy up to 35% of the project cost.
• Loan facility for both manufacturing and service sector projects.
• Available to individuals, self-help groups, and registered institutions.
• Project cost up to ₹50 Lakhs for manufacturing and ₹20 Lakhs for service sector.
• Encourages first-time entrepreneurs with easy eligibility norms.

Key Features

• Collateral-free loans for projects up to ₹10 Lakhs.
• Subsidy credited directly to the borrower’s account after successful implementation.
• Support for raw materials, machinery, and working capital needs.

Application Process

1. Apply Online: Register on the PMEGP official portal.
2. Submit Project Report: Provide detailed project and cost estimates.
3. Scrutiny & Approval: Evaluation by the implementing agency (KVIC/DIC).
4. Loan & Subsidy Disbursement: Bank sanctions loan and government releases subsidy.