PMEGP stands for Prime Minister Employment Generation Programme this is a loan scheme launched by the Ministry of MSME to generate employment opportunities in both rural and urban areas.
Who is eligible for a PMEGP loan? & What are the Eligibility criteria?
Everyone can apply for a PMEGP loan. By following this Eligibility criteria.
- The first Criteria for availing PMEGP Loan scheme is Above 18 years
- The second Criteria for availing PMEGP Loan Scheme you have to At least VIII standard pass for projects costing above Rs.10 lakh in the manufacturing sector and above Rs. 5 lakh in the business/service sector.
- The third Criteria for availing this loan is Only new projects can be considered for sanction loans under PMEGP.
- Fourth Criteria for availing loans under the PMEGP scheme Self Help Groups (including those belonging to BPL provided that they have not availed benefits under any other Scheme), Institutions registered under the Societies Registration Act,1860; Production Co-operative Societies, and Charitable Trusts are also eligible.
Who is not eligible for PMEGP?
If you have any Existing Units (under PMRY, REGP, or any other scheme of the Government of India or State Government) and the units that have already availed of Government Subsidy under any other scheme of the Government of India or State Government are NOT eligible.
What Documents are Required for Applying PMEGP Loan?
- Aadhaar Card
- Pan Card
- Project report
- Ruler Area Certificate
- EDP Certificates (Entrepreneurship Development Programme)
- Authorization Letter
What is the maximum limit of PMEGP?
You can get a loan of up to 50 Lakh,As per your application and Credit scores
Steps To Apply for PMEGP Loan
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STEP-1: Go to the official PMEGP website and click on the ‘Apply’ https://www.kviconline.gov.in/pmegpeportal/pmegphome/index.jsp
STEP-2: Open the foam and fill in the form that opens up carefully.
STEP-3: Know you will get the application ID and the password that you see on the screen.STEP-4: Then, click on ‘Proceed’ to start uploading your documents. Click on ‘Upload’ beside the type of document mentioned.
STEP-5: Click on ‘Upload’ to finally upload it. Upload all documents one by one using the same process.
STEP-6: Answer all questions, tick on the checkbox, and finally click on ‘Save’.
STEP-7: Go over to the ‘EDP’ section, and choose how you would like to take the training if you have not already taken it.
STEP-8: Click on the ‘Final Submission’ on the menu bar, and finally click on ‘Final Submission of Application to Sponsoring Agency’.
STEP-9: Then you will get an option to ‘Print Application’. Once you have printed the form, attach photocopies of all documents that you uploaded and visit the bank that you chose in your form.
STEP-10: You will be eligible for a subsidy as soon as you apply for a PMEGP loan. Once your application is approved, you can get a subsidy of 25% to 35% depending on the other criteria.
This is the full process to Apply for a PMEGP loan, Hope this post is helpful for everyone.
Good
Nice Informative