Good News amid Lockdown! Center to Allow Loan up to 1 Crore for Small Scale Industry Holder; How to Apply

Following Modi’s call for ‘Atmanirbhar Bharat’, the centre along with the ministry of MSME (Micro, Small and Medium Enterprise) is gearing up for the welfare of MSMEs and small industries across the nation. In this series, the government has initiated different schemes and farmers and small industry holder can avail the benefits from the schemes. Under these schemes, the government provides help to start small industries. Hence, if you want to earn good money by doing some small work, you can easily take advantage of the government's MSME scheme. Moreover, the best part is that you do not have to go anywhere to get this loan.  You can take a loan up to 1 crore in just 59 minutes from a central government portal. (https://msme.gov.in/)

Let’s know the scheme in detail and how farmers can avail all the benefits.

Loan Amount

Under the MSME scheme, you can take loan up to 1 crore to start any kind of small industry, for which you have to show some documents. The process of this loan is based on smart and digital process, so the portal gets the authenticity of the information provided by you within a few minutes. If you have provided authentic information, portal will approve you. Moreover, you can also choose your favorite bank for the loan.

Required Documents

For this loan, it is necessary to have some basic documents, such as six months transaction information, your IT account and GST account information, documents related to taxation, etc. All such forms have to be scanned under KYC and submitted online.

Important Things to Remember

Only new applicants can avail this scheme. Those who are already part of this scheme, can’t apply here. If you are already connected to this scheme, then the portal asks for ID and mobile number that relates to your account. If all your procedures are correct and certified, then you can receive loan within 1 hour. Click on this link of MSME for more information about the loan.Click here for more information. https://msme.gov.in/all-schemes