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Does government provide loans for the start ups?
20-Jan-2023 (In Startup Law)
Can some body tell me as a start up , can I get loan from the government? If yes then please suggest the site where I can get the details for the required documentation and limits of the loan
Following are the measures taken by the Government of India to help and aid Start ups financially (source: PM's speech and media coverage)
The government has proposed -
- Credit guarantee fund for start-ups
- A credit guarantee mechanism through National Credit Guarantee Trust Company and SIDBI to be rolled out with a budgetary corpus of Rs 500 crore per year for the next four years
Funding support through fund of funds with a corpus of Rs 10,000 crore
- The government is going to set up a fund with an initial corpus of Rs 2500 crore and a total corpus of Rs 10000 crore over a period of four years
Apart from these the Banking sector too is up for helping and aiding the Start up financially. For e.g. (Source - media coverage) the private sector RBL Bank today (22.01.2016) launched a platform to provide end-to-end banking services to the emerging the entrepreneurial community. Through the 'India Startup Club (ISC)' platform, entrepreneurs can avail of personalised banking services, financial tools as well as resources and planning solutions.
We may discuss further over this at the time we meet to help you in your project on legal front. My best wishes for your venture.
The government has proposed -
- Credit guarantee fund for start-ups
- A credit guarantee mechanism through National Credit Guarantee Trust Company and SIDBI to be rolled out with a budgetary corpus of Rs 500 crore per year for the next four years
Funding support through fund of funds with a corpus of Rs 10,000 crore
- The government is going to set up a fund with an initial corpus of Rs 2500 crore and a total corpus of Rs 10000 crore over a period of four years
Apart from these the Banking sector too is up for helping and aiding the Start up financially. For e.g. (Source - media coverage) the private sector RBL Bank today (22.01.2016) launched a platform to provide end-to-end banking services to the emerging the entrepreneurial community. Through the 'India Startup Club (ISC)' platform, entrepreneurs can avail of personalised banking services, financial tools as well as resources and planning solutions.
We may discuss further over this at the time we meet to help you in your project on legal front. My best wishes for your venture.
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Adv. Pulkit Prakash
Delhi | 400+ Answers
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