MSME Loans for New Business | 10 Government Loan Scheme for MSME | Loan for MSME | Loan for Business

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Top 10 MSME and Startup Business Loans by Government of India :

The Micro, Small, & Medium Enterprises (MSMEs) contribute to 29% of India’s GDP, and are responsible for almost half of the nation’s exports. On the other hand, startups have been mushrooming across the country and are a massive contributor to taking India higher on the global pedestal. India has become the third-largest startup ecosystem in the world after the US and China.

Did you know that India has more than 7.9 million micro, small and medium enterprises (MSMEs) as of 27 March 2022, according to the Ministry of Micro, Small & Medium Enterprises?

Pradhan Mantri Mudra Yojana
Stand Up India Scheme
Credit Guarantee Fund Scheme for Micro and Small Enterprises
Small Industries Development Bank of India
Udyogini
Coir Udyami Yojana
Bank Credit Facilitation Scheme
Sustainable Finance Scheme
Credit-Linked Capital Subsidy Scheme (CLCSS)
National Bank for Agriculture and Rural Development
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How To Register For Government Loan Schemes?

Applying for the MSME and startup business loans provided by the Government of India is very similar to other loans. There are two ways to go about it:

You can visit the lender’s website and fill in the online application form. You will be required to submit all necessary documents either online or offline, depending on the lender’s rules.

You can visit the lender’s offline/physical branch and fill out their application form and the required documents.
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Common Eligibility Criteria to Register for a Startup Business Loan by The Government of India

In addition to the specific eligibility criteria for each lender, there are a few common eligibility requirements that MSMEs and startups looking for business loans need to fulfill. These are:

The company should not be older than five years in the case of existing enterprises

The total turnover of the business should not be more than INR 25 crores

Only Limited Liability Partnerships or Private Limited companies are eligible for these loans

Eligible applicants should also have approval for DIPP (Department of Industrial Policy and Promotion)

A patron guarantee from the Indian Patent and Trademark Office is a must to qualify for Government startup loans
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Credit:- https://www.velocity.in/blog/governme...
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