Scheme for Margin Money Grant to Nano Units

What is Scheme for Margin Money Grant to Nano Units?

The scheme “Margin Money Grant to Nano Units” is a loan-linked scheme operated by Directorate of Industries & Commerce, Govt. of Kerala. The scheme aims to provide financial assistance to Nano units in the State, engaged in manufacturing,job work & service activity having any type of value addition.

Benefit

1. Units with project costs up to ₹10 Lakhs will be covered in the scheme. 2. Margin Money Grant of 30% to 40% of the Total Project cost according to the category of the applicant. 3. Women, Youth (Age between 18 and 40), Differentially-Abled Persons, Ex-Servicemen, and persons belonging to the SC/ST category will be eligible for a 10% additional Grant. 4. The maximum limit of margin money grant under the scheme shall be ₹4 lakhs per unit as follows. a. Loan given by financial institution/KFC/Co-operative bank: Minimum 40 % of the project cost b. Promoter’s contribution: Minimum 30 % of the project cost c. Margin money grand by Industries department: 30 % of the project cost limited to a maximum of 3 lakhs d. In case of special categories MMG will be 40 % of the project cost limited to a maximum of 4 lakhs and promoter’s contribution shall be 20%. > **Financial Assistance:** **Category****Loan from Financial Institution (Minimum)****Beneficiary Contribution (Minimum)****Margin Money Grant (Maximum)**General40%30%30%Special40%20%40%**Note:** The assistance under the scheme shall be released to the eligible entrepreneur by bank on a pro-rata basis.

Level

State — Kerala

Ministry / Dept.

Industries and Commerce Department

Benefit type

cash

Key eligibility

1. All new Nano proprietary enterprises in manufacturing/food processing and job works and units engaged in the service sector having any type of value addition, whose project cost includes fixed capital and working capital up to 10 lakhs are eligible for assistance under the scheme. 1. The unit sha

Last verified

Recently

Benefits

1. Units with project costs up to ₹10 Lakhs will be covered in the scheme. 2. Margin Money Grant of 30% to 40% of the Total Project cost according to the category of the applicant. 3. Women, Youth (Age between 18 and 40), Differentially-Abled Persons, Ex-Servicemen, and persons belonging to the SC/ST category will be eligible for a 10% additional Grant. 4. The maximum limit of margin money grant under the scheme shall be ₹4 lakhs per unit as follows. a. Loan given by financial institution/KFC/Co-operative bank: Minimum 40 % of the project cost b. Promoter’s contribution: Minimum 30 % of the project cost c. Margin money grand by Industries department: 30 % of the project cost limited to a maximum of 3 lakhs d. In case of special categories MMG will be 40 % of the project cost limited to a maximum of 4 lakhs and promoter’s contribution shall be 20%. > **Financial Assistance:** **Category****Loan from Financial Institution (Minimum)****Beneficiary Contribution (Minimum)****Margin Money Grant (Maximum)**General40%30%30%Special40%20%40%**Note:** The assistance under the scheme shall be released to the eligible entrepreneur by bank on a pro-rata basis.

Eligibility

Documents Required

How to Apply

1. Step 1: Online application — step 1

   Step 01: Application can be submitted online through the Official website of the Directorate of Industries & Commerce, Government of Kerala. The applicant needs to visit the official website . Step 02: The applicant may select the scheme “One Family One Enterprise” from the available Online Services listed on the home page and click on the “Apply Now” option. Clicking “Apply Now” redirects to the Login Page, if the new user uses the “Registration” option and if already registered use the ‘Login’ option. Step 03: A new user can register by filling in his/her details and after successful registration, the user can login. Step 04 : After successful login, the applicant may fill out the application form. Step 05: After filling out the application form completely and then click on ‘Submit’.

2. Step 2: Offline application — step 1

   Application form shall be submitted to the Assistant District Industries Officer, Taluk Industries Office concerned with all supporting documents including the sanction letter with recommendation from the bank. Copy of the passbook showing the details of beneficiary contribution remitted to be submitted along with the application. Recommending Authority:

3. Step 3: Offline application — step 2

   The respective Assistant District Industries Officers, Taluk Industries Offices shall be the recommending authority for assistance under the scheme. As and when the entrepreneur approaches for assistance under this scheme the Assistant District Industries concerned shall forward TFR to the Financial Institution/ Banks/ Kerala Financial Corporation/ Co-operative Banks. After receipt of the sanction letter with recommendations from Bank/Financial Institution/Kerala Financial Corporation/ Co-operative Banks along with a copy of passbook showing the details of the beneficiary contribution remitted (the Assistant District Industries Officer shall ensure that the party has remitted the beneficiary verifying the Pass Book) and after satisfying that the entrepreneur complied all the eligibility criteria, he shall accept the application and place them before the sanctioning authority with the recommendation for disbursing the assistance. Sanctioning Authority: The General Managers, District Industries Centres concerned shall be the sanctioning authority.

Sources & References

• Official scheme website ↗
• Source record ↗
• Information is summarised from official government sources. Verify all details on the official website before applying.