PMEGP Loan Yojana: Step-by-Step Guide for PMEGP Loan Registration Procces

Are you aspiring to kickstart your own business and exploring the possibilities of the Prime Minister’s Employment Generation Programme (PMEGP)? If so, you're in the right place. This article provides insights into the PMEGP loan scheme, its recent updates, eligibility criteria, necessary documentation, and a step-by-step guide on how to apply online.

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PMEGP Loan Scheme

The PMEGP is a subsidized loan initiative launched by the Ministry of Micro, Small and Medium Enterprises, aimed at fostering employment in both rural and urban areas through the promotion of new businesses. Initially, the loan limits were set at Rs. 25 lakh for the manufacturing sector and Rs. 10 lakh for the service sector, but recent updates have expanded these limits to Rs. 50 lakh and Rs. 20 lakh, respectively.

Key Features of the Enhanced PMEGP Loan Scheme

  • Special categories include women, SC, ST, OBC, ex-servicemen, TG, differently-abled individuals, and those from aspirational districts or hilly/border areas.
  • Margin money requirements differ for general and special categories.
  • Subsidies range from 15% to 35%, varying based on location and category.
  • Upgradation loans are now feasible, with a margin of 10%.

Eligibility Criteria for PMEGP Loan

Applicant age must be 18 or above, with no upper age limit.
Minimum education requirement is passing standard VIII.
Loans are exclusively for new businesses; existing businesses are ineligible.
No income ceiling – individuals from any background may apply.

Required Documents For PMEGP Loan

- Passport-size photo
- Detailed project report or business summary
- Caste certificate for special category applicants
- Aadhaar card
- Population certificate (attested)
- Educational certificates
- PAN card
- Residential and business address proof
- Family income proof
- MSME registration
- Income Tax Returns of the past 3 years

Step-by-Step Guide for PMEGP Loan Application Online

1. Visit the official PMEGP website: kviconline.gov.in
2. Click on 'Apply' under the 'Application for New Unit' option.
3. Fill in the form, saving the application data.
4. Note the application ID and password.
5. Proceed to upload documents one by one.
6. Check your loan eligibility with the 'Score Card.'
7. Answer questions, tick the checkbox, and save.
8. Visit the 'EDP' section to select training preferences.
9. Finalize and submit the application to the sponsoring agency.
10. Print the application form and submit it to the chosen bank with photocopies of uploaded documents.

Checking PMEGP Application Status

1. Visit the official PMEGP website and click 'Apply' under the 'Registered Applicant' option.
2. Log in using your User ID and password.
3. Click on 'View Status' for PMEGP tracking.

Regularly monitoring your PMEGP application status is crucial. Follow these steps to stay informed about the progress of your loan application.