Government Loan Schemes for Small Businesses in India — Blog — BulbandKey

India is a vast country with a population of about 1.34 billion. 50% of this population is employable, but India’s unemployment rate has increased by 45%. According to a recent survey 83% of Indians would like to start their own micro, small or medium businesses depending on their financial strength but not every good idea is funded well. These small business entrepreneurs who have a lot of potential and revolutionary ideas which can do good to our country and must be encouraged through funds.

Recognising this problem, the Government of India has taken steps to help these small scale and home businesses. The government schemes listed below have helped many businesses and will be of help to you too :-

Business Loans in 59 Minutes for Micro, Small and Medium Enterprises (MSME)

This government loan scheme introduced by the government is for already existing small businesses. They lend money for small businesses to carry out their everyday operations. The minimum and maximum amount loaned is from Rs. 10 Lakh to Rs. 1 Crore. The minimum business loan rate of interest offered is 8% but it may vary according to the applicant’s credit score. There is no collateral considered for this loan also known as an unsecured business loan. Please click here to read full blog