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Increased Interest Subsidy for Small Scale Industries in Karnataka

According to the financial budget 2014-2015, in a bid to improve the condition of small scale industries, the Micro and Small Scale Industries (SSIs) of Karnataka are eligible to get an interest subsidy for their loan availed at a rate of 6% from the Karnataka State Financial Corporation (KSFC).

Benefit:

  1. The interest subsidy is of 6% on loans from KSFC.
  2. SSI investment limit for any project is of Rs 5 crore as per MSMED Act. But Karnataka government limited this assistance with projects worth of Rs 1 crore. However, they have increased the interest subsidy rate by 6%.
  3. With this interest subsidy, entrepreneurs can now avail loans from KSFC at 8% now.
  4. First-generation entrepreneurs can avail loan of maximum 70 lakh at 8%.

Eligibility:

Those want to avail loan have to be First-generation entrepreneurs.

How to avail:

To avail 6% interest subsidy, eligible entrepreneurs can contact KSFC or Mysore Industries Association (MIA).

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3 comments

  1. I am puting a new industry plz contact me.

  2. M.. Dadakhalander

    Sir/madam ,

    I am M. Dadakhalander form Tekkalakote (p) Bellary (D) Karnataka. I want to start 2Ton Rice Mill in our village please tell me about the Loan & Subsidy Schemes. Please tell me

    Thinking you, yours faithfully,
    M. Dadakhalander

  3. Sir/madam ,

    I am MBA graduate from Mysore Karnataka we are friends of group we are willing to set a farm which includes . dairy , poultry , sericulture , goat and sheep farming is there any kind of lone is available more than 10lak . so kindly inform us

    Thinking you, yours faithfully

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