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Karnataka

Direct Loans For Business Enterprise

Direct Loans For Business Enterprise Scheme is implemented by Karnataka Minorities Development Corporation Limited. Under this scheme, loans will be provided to eligible entrepreneurs to start or expand their businesses by mortgaging property (building or land).

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  • Details
  • Benefits
  • Eligibility
  • Exclusion
  • Application Process
  • Documents Required
  • Frequently Asked Questions
  • Sources And References
  • Details

    The main objective of this scheme is to provide financial assistance in the form of loans to persons belonging to the State's Religious Minority Communities so as to help them to start their businesses or expand their existing ones.
    Under this scheme, loans will be provided to eligible entrepreneurs to start or expand their businesses by mortgaging property (building or land).
    Loans will be provided only on a mortgage of property (building/land) to the corporation. The value of the property should not be less than the loan amount.
    Business/Enterprise Loan will be given to only one member of a family.
    If the applicant's family income is below Rs 8.00 lakhs, then the loan will be provided up to Rs 20 lakhs at a 4% interest rate.
    If the applicant's family income is Rs 8.00 lakhs to 15 lakhs, then the loan will be provided up to Rs 20 lakhs at a 6% interest rate.

    Benefits

    Eligibility

    Exclusion

    Application Process

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    Documents Required

    Frequently Asked Questions

    Sources And References

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