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Credit Guaranteed Loan

Prime Minister’s Employment Generation Programme (PMEGP)

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Objective

Encourage new entrepreneurs to set up micro-enterprises through credit-linked subsidy support

Key Benefits

Bank financed subsidy program for setting up new micro-enterprises in non-farm sector.Margin Money subsidy on Bank Loan ranges from 15% to 35% for projects up to Rs. 25 lakhs in manufacturing and Rs. 10 lakhs in service sectorFor beneficiaries belonging to special categories such as SC/ST/Women/PH/Minorities/Ex-Servicemen/NER, the margin money subsidy is 35% in rural areas and 25% in urban areas. The maximum cost of projects is Rs.25.00 lakh in the manufacturing sector and Rs.10.00 lakh in the service sector.

Applicable For

Any individual above 18 years of age, SHGs, Charitable trusts, Registered Societies etc.

Detailed Information

The own contribution of the beneficiary is 10% of the project cost in case of general category and 5% of the project cost in case of reserved category (SC/ST/OBC/PH/Women/Ex Servicemen/ NER) beneficiaries.If the application for loan is approved, Banks sanction and release the balance amount of 90 to 95 percent of the total project cost suitably for setting up of the units by the beneficiaries.In order to have sustainability of the projects/units set up under the scheme, support services are also provided in the form of Backward & Forward Linkages by organizing events like awareness camps, workshops, EDP training to the beneficiaries, exhibitions, etc.Government of India has introduced online process flow of application and disbursement of Margin Money directly to financing branches.Corporation Bank was engaged as a single National Level Agency for operating the online fund flow system of PMEGP.One-page online application form is mandatory for individuals and institutional beneficiaries on the e-portal. The application form/PMEGP MIS portal is mobile friendly. SMS/e-mail alerts sent to the applicant automatically by the system or by the concerned officials at the process of each stage.Model Projects of different KVI activities have been put up on PMEGP e-portal for the benefit of potential beneficiaries.Model Village Industries projects prepared by NSIC have also been linked to the website.To increase the registration of MSMEs in the country, the Government has undertaken measures that the PMEGP units can adopt the Udyog Aadhar Memorandum (UAM) to register online.

Frequently Asked Question

  • What is MCS?
    MCS is a Fintech platform dedicated to empowering MSMEs by helping them discover and avail government schemes. We provide easy access to regulatory and statutory compliance services and connect MSMEs with professional experts.
  • How can MCS help my business?
    MCS helps your business by providing access to over 800 government schemes, offering expert consultations, and simplifying regulatory processes, ultimately saving time, reducing costs, and accelerating your growth.
  • What is the Partnership Plan?
    The Partnership Plan allows businesses to generate Scheme Reports for their clients, while also gaining access to online consultations through ProSePuccho. This plan provides an additional revenue stream by helping your clients access government schemes.
  • If the expert does not visit, will I get a refund?
    Yes, if the expert does not visit the call for any reason, you will get a refund for the same.
  • Can I modify or cancel an appointment?
    You can modify an appointment an hour before your slot. Incase of cancellation, you would not be getting a refund of the same.
  • How does MCS empower MSMEs with financial solutions?
    MCS is designed to assist Micro, Small, and Medium Enterprises (MSMEs) through a broad range of MSME services and MSME schemes that promote business expansion and resilience. Entrepreneurs can explore options like MSME Loan Scheme, working capital schemes, and term loans to finance growth and innovation. Additionally, MCS helps businesses leverage Credit Linked Capital Subsidy Scheme (CLCSS) and collaborates with the Ministry of Micro, Small and Medium Enterprises (MSME) to ensure financial sustainability and job creation across India.
  • How does MCS bridge the gap with government and institutional support for MSMEs?
    MCS collaborates with institutions like the Small Industries Development Bank of India (SIDBI) and actively works on credit accessibility and funding solutions such as the Credit Guarantee Fund Scheme for Micro and Small Enterprises (CGTMSE). With the support of state governments, banks, and industry clusters (DICs), we facilitate MSMEs in implementing government initiatives like the Prime Minister’s Employment Generation Programme (PMEGP). Entrepreneurs can apply online for MSME loans or receive assistance to access financial resources like the Fund Trust for Micro Enterprises, enabling them to fully realize their potential.
  • What MSME schemes in India can entrepreneurs access through MCS?
    MCS makes it easy for businesses to access various MSME schemes in India, including funding solutions for small businesses and innovation-driven enterprises. Our platform simplifies scheme integration to help MSMEs tackle interest rate challenges and seamlessly benefit from government-instituted schemes designed for long-term sustainable growth. Whether it's financial support to scale operations or strategic advisory services to drive continuous growth, MCS serves as a consistent partner in the evolution of MSMEs.