Can Pmegp loan be given to existing unit?

Can Pmegp loan be given to existing unit?

Whether existing unit can avail funds under PMEGP? A – No, only new unit .

Who is eligible under Pmegp?

Any individual who is above 18 years of age. The person should have passed at least the 8th standard for a manufacturing sector project costing above Rs. 10 lakh, and a business/service sector costing above Rs. 5 lakh.

What is the first step to apply for Pmegp online?

Follow these steps for applying PMEGP online. Get to the Khadi and Village Industries Commission website, https://kviconline.gov.in/pmegpeportal/jsp/pmegponline.jsp. Enter the necessary details and tap on ‘Save Application Data’. The application form will be saved.

Is EDP training mandatory for Pmegp?

As per the PMEGP scheme guidelines, EDP training for 10 days is compulsory for all the PMEGP beneficiaries before release of funds by banks. Further, the EDP training was exempted up to 30.09. 2020 for claiming Margin money subsidy due to covid 19 pandemic situation.

What is DIC and Kvib?

KVIC, Khadi & Village Industry Boards (KVIB) and District Industry Centres (DIC) are the implementing agencies in the States. Financial assistance/loans is provided through Banks, Government pays margin money subsidy to the beneficiaries through KVIC at the above mentioned rates for different categories.

What is population certificate for Pmegp?

In Karnataka, a population certificate is a legal document that is required for the Prime Minister’s Employment Generation Program (PMEGP). You will also be required to submit certain prescribed documents to process your application. Furthermore, the applicant has to pay a nominal fee towards the process.

How do I create a project for Pmegp loan?

Step by Step Procedure to avail PMEGP Loan and Subsidy

1. Conceive a business idea to start a new enterprise in manufacturing or service sector.
2. Identify suitable location, building, plant and machinery etc.
3. Make a Project Report/ Business Plan, so that you can enter the details in the application.

How do I get EDP training?

EDP TRAINING (PMEGP BENEFICIARIES) The EDP trainees will get registered on this portal through their Mobile Number registered at the time of registration with PMEGP portal and filled in Loan Application Form for joining and completing their training programme.

Is EDP training free?

4) What is the EDP Online Training Fees? Ans.) It is free of cost for PMEGP beneficiary whose application has been sanctioned by bank and not taken any training from RSETI/RUDSETI and other eligible institute as per guidelines.

What is the interest rate of pmegp loan?

The PMEGP loan scheme has annual interest rates ranging from 11% to 12%. The Interest Subsidy Eligibility Certificate scheme, on the other hand, offers low-interest rates of 4%. The Khadi and Village Industries Commission adjusts the difference between the modified interest rate of 4% and the regular interest rate of 11% to 12%.

Do you need to provide security for pmegp loan?

Projects costing up to Rs.10 lakh do not require a security as per RBI guidelines. For projects with costs ranging from Rs.5 lakh to 25 lakh, CGTSME provides a collateral guarantee. The PMEGP loan process is different for projects costing over Rs.10 lakh as you may need to provide security as per your lender’s terms.

What are the benefits of pmegp in India?

Under this scheme, beneficiaries can get a subsidy amounting to 15-35% of the project cost from the government. PMEGP is an initiative of the Ministry of Micro, Small and Medium Enterprises and is implemented at a national level by Khadi and Village Industries Commission (KVIC).

How old do you have to be to get pgemp loan?

The age of the applicant should be above 18 years. To take a pgemp loan, at least one must have passed eighth. This loan will also be given to start a new business. This loan is not given to pursue an old business. If you have applied for any other government then you will not be given a loan.