Government of Kerala issues scheme for Interest Subvention in long term loan and working capital loan for MSMEs

admin

The State Government of Kerala vide its notification dated 2nd June 2020 has announced financial package assistance under Vyavasay Bhadratha for helping Micro Small Medium Enterprises (MSMEs). The scheme intends to provide interest subvention for 6 months for new/additional term loan and/or working capital loan availed form 1st April 2020 to 31st December 2020.

The scheme is applicable to MSME in the manufacturing/job work category established in the state which have promptly filed UAM after commencing commercial production with the competent authority. The unit should be in operation during the period from 1st January 2020 to 15th March 2020.

All MSMEs in manufacturing/job work category functioning in Kerala as on 15th March 2020 will be eligible to avail interest subvention on loans up-to a maximum of 30,000 per unit. The assistance shall be limited to 50% of the interest paid by the unit to bank/financial institution up to a period of 6 months from the date of disbursement of the first installment of the loan.

Click here to read the Notification.

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill in the form

Do you want GST Refund ?