PMEGP- Khadi – kvic Loan Online Apply kviconline.gov.in/pmegp (Prime Minister’s Employment Generation)

The Prime Minister’s Employment Generation Programme (PMEGP) is a flagship scheme of the Government of India that provides financial assistance to individuals for setting up micro-enterprises in the manufacturing, services, and trading sectors. The scheme is implemented by the Khadi and Village Industries Commission (KVIC) in collaboration with State Khadi and Village Industries Board (KVIB) and District Industries Centre (DIC). PMEGP aims to create sustainable employment opportunities in rural and urban areas and promote entrepreneurship.

Eligibility criteria for PMEGP loan:

Age limit: The applicant should be at least 18 years of age.

Educational qualification: There is no educational qualification requirement for the scheme.

Citizenship: The applicant should be a citizen of India.

Experience: The applicant should have some experience in the related field.

Project cost: The maximum project cost is Rs. 25 lakhs for manufacturing and Rs. 10 lakhs for the service sector.

Employment generation: The project should generate employment for at least one person other than the applicant.

The loan amount provided under PMEGP is in the form of a subsidy, and the repayment period is up to 5 years. The rate of interest varies from bank to bank, and it is decided based on the borrower’s credit score and project feasibility.

Khadi and Village Industries Commission (KVIC) is a statutory body established by the Government of India in 1957, with the objective of promoting and developing khadi and village industries in rural areas. KVIC offers various schemes for financing khadi and village industries, including the Prime Minister’s Employment Generation Programme (PMEGP). KVIC also provides training, technical support, and marketing assistance to entrepreneurs in the khadi and village industries sector.

Eligibility criteria for KVIC loan:

Age limit: The applicant should be at least 18 years of age.

Educational qualification: There is no educational qualification requirement for the scheme.

Citizenship: The applicant should be a citizen of India.

Experience: The applicant should have some experience in the related field.

Project cost: The maximum project cost is Rs. 50 lakhs.

Employment generation: The project should generate employment for at least two persons other than the applicant.

The loan amount provided under KVIC is in the form of a term loan or working capital, and the repayment period is up to 7 years. The interest rate is decided based on the borrower’s credit score and project feasibility.

Khadi and Village Industries Board (KVIB) is a state-level organization responsible for implementing and monitoring various schemes related to khadi and village industries. KVIB provides financial assistance to entrepreneurs in the form of loans for starting or expanding their business.

Eligibility criteria for KVIB loan:

Age limit: The applicant should be at least 18 years of age.

Educational qualification: There is no educational qualification requirement for the scheme.

Citizenship: The applicant should be a citizen of India.

Experience: The applicant should have some experience in the related field.

Project cost: The maximum project cost is Rs. 10 lakhs.

Employment generation: The project should generate employment for at least one person other than the applicant.

The loan amount provided under KVIB is in the form of a term loan or working capital, and the repayment period is up to 5 years. The interest rate is decided based on the borrower’s credit score and project feasibility.

To apply for PMEGP, Khadi, and KVIC loans online, interested individuals can follow the below steps:

Visit the official website of PMEGP or KVIC.
Click on the ‘Apply Online’ link.
Fill in the application form with all the required details such as personal details, business details, and loan amount required.
Upload the necessary documents such as identity proof, address proof, business plan, and other relevant documents.
Submit the application form along with the required documents.
Wait for the verification process to be completed.
Once the verification is completed successfully, the loan amount will be disbursed to the applicant’s bank account.

In conclusion

PMEGP, Khadi, and KVIC loans are excellent schemes designed to promote entrepreneurship and self-employment among individuals in India. By applying for these loans online, interested individuals can take advantage of the financial assistance provided by the government to start or expand their business.

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