Government Loan Scheme: Government will help you to start a business, this is the three loan scheme


Government Loan Scheme: The Government of India supports startups to carry forward the Indian Economy. The government has taken several steps to generate employment and help small industries. The Government of India also provides a low rate or no interest loan to establish business. Apart from this, the government has started many schemes, through which people can start their business. We will tell you about the Best Government Loan Scheme of the government below which helps businessmen.

Credit Guarantee Scheme for Micro and Small Enterprises (CGSMSE)

This scheme gives collateral-free loan. This means that there is no need to mortgage any item in lieu of loan. Apart from this, Eligible Enti in this scheme is also provided to working capital as well as term loan.

If you apply a loan of up to Rs 5 lakh under the scheme, then you get a guarantee cover of up to 80 % of micro-interprises. The purpose of this scheme is to give loans to small businessmen without any hassle.

Sidbi Make in India Loan for Enterprise (SMILE)

The SMILE scheme includes promoting new innovation, convenient and intellectual property, etc. This scheme is designed to build the best infrastructure for MSME. Let us tell you that this scheme has a soft loan and term loan offer.

The specialty of this loan is that the repayment period of the loan in it is very long. Currently this loan is present for 25 sectors included under ‘Make in India’.

Pradhan Mantri Mudra Yojana (PMMY)

Pradhan Mantri Mudra Yojana – PMMY is quite popular in government schemes. It gets a loan of up to Rs 10 lakh. The loan that is found in this scheme is unsecured loans. This means that there is no need to pledge an asset for a loan. Let us tell you that three types of loans (baby, teenage and tarun) are given in this scheme.