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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
- Online
- Offline
Documents Required
Frequently Asked Questions
People belonging to State Religious Minority Community will receive the Benefits under this scheme.
Under this scheme, a loan of Rs.20 Lakhs will be given At Low Interest Rates to persons belonging to minority communities for setting up their Businesses.
If The Applicant's Family Income Is Below Rs 8.00 Lakhs, It will be 4%. if the applicant's family income is between Rs 8.00 lakhs-15 lakhs, It will be 6%.
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.
The person can request loans by applying online through link https://kmdconline.karnataka.gov.in/Portal/home and then submitting the filled applications along with documents, or they can directly walk-in to the banks to provide them assistance for getting the loans under this scheme.
Copy of Aadhaar as residential proof, Caste Certificate Issued by the competent authority, Income Certificate Issued by the competent authority, Lease deed/Partition deed/Release deed/Gift deed/Rental agreement/Sale deed of the property, Project report/Profile of activities from CA(Chartered Accountant), Quotations related to the project, License from respective authorities with respect to property proposed to be mortgaged, Building's Khata extract and Khata certificate or land's Mutation copy, Phodi/Partition deed with respect to revenue lands and phani-RTC, Encumbrance Certificate-(EC)/Form No.15, Up-to-date tax-paid receipts from the local bodies, Guidance value of the land from the competent authority, No objection from the family members to pledge the title deed with the family tree, In the case of a building, Valuation report by a registered valuer and Valuation Certificate, Self-Declaration Form
All these documents can be obtained online. The links are as under: The link for Self-Declaration Form – https://kmdconline.karnataka.gov.in/API/ProjectFiles/DocumentTypes/Self-Declaration-Applicant1.pdf The link to get a Caste Certificate is – https://sevasindhu.karnataka.gov.in/Category/Caste%20Certificate.html The link to get RTC is – https://landrecords.karnataka.gov.in/Service2/
Sources And References
Application Link
Scheme Description