PMEGP Loan Apply Online, Eligibility Criteria, Benefits, Required Documents 

The PMEGP is a kind of loan scheme which is offered by the government of India to provide financial support to medium and small-scale businesses. 

PMEGP Loan Apply Online 

The PMEGP Loan Apply online facility is provided to those who want to open a new business. Through applying this loan or scheme small and medium enterprises can improve their financial stability at a higher rate. 

To learn more about the PMEGP Loan application procedure please visit the official website https://kviconline.gov.in/. For applying for this loan applicants do not need to pay any kind of fees this is free of cost. 

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PMEGP Loan Eligibility Criteria 

• The applicant must be above 18 years of age. 
• There will be no type of salary ceiling for assistance in setting up the projects under PMEGP. 
• Assistance under this scheme is available only for new types of viable projects which are sanctioned from the PMEGP. 
• To set up the project costing is above Rs 10 lakhs within the sector of manufacturing and above Rs 5 lakhs within the business/ service sector, the beneficiaries should possess at least an 8th pass educational qualification.
• Applicants should process valid UID numbers.
• Aspirants shall provide her/ his consent to authenticate demographic information like name, gender, date of birth, mobile number, etc. 
• The projects without capital expenditure are not eligible for this loan. 
• Under the project cost, the cost of land can not be covered. 
• The various implementing agencies (KVIC, KVIB, DIC, etc.) can process applications in both urban and rural areas. 

PMEGP Loan Application Required Documents 

During the time of applying for this loan scheme applicants need to upload various documents which are given below – 

• Certificate of highest education qualification 
• Passport size photo 
• Project report summary/ Detailed project report 
• Social/ certificate of special category, if applicable 
• Certificate of rural area. 
• Residence proof 

Steps to Apply for a PMEGP Loan 

At the time of applying for this loan applicants are required to consider various steps which are shown below – 

• First you need to type the official website www.kviconline.gov.in. 
• After that a new page is open in front of you and here the “PMEGP Application Online” option appears. 
• You need to click that option.
• After selecting this option, the application form is open on your screen and you are required to fill in various details. 
• Details include Aadhaar card number, Name of applicant, State, District, Sponsoring agency, Gender, Date of birth, Social security, Educational qualifications, Mobile number, Email ID, PAN NO, Permanent and Communication address, Mobile number etc. 
• After fulfilling above-mentioned details, then click the option “Save Applicant Data”. 
• At the time of selecting this option, the computer will ask you in the form of a message that you are sure to continue. 
• Then you click ok 
• After you move to the next page. 
• Here you need to upload various important and required documents. Documents like Passport size photo, Highest educational certificate, Aadhaar card, etc. 
• After uploading all documents, then click the button for final submission. 
• In this way, your application is finally and successfully submitted. 

PMEGP Loan Benefits 

• With this kind of loan, the employment rate is spread throughout the country effectively. 
• After applying for this loan successfully, applicants received around 50 lakhs in the form of a loan. 
• Through the support of this scheme not only will you be capable of doing your self-employment but also for your self-reliant development. 
• Enhancing artisans’ earning potential and accelerating urban and rural employment growth. 

PMEGP Loan Major Details

• In this loan the government is facilitating 15% to 30% as margin money or PMEGP subsidy. 
•  Banks sanction funding up to 95% of the project cost. 
• Here the bank facilitates the remaining 60%-75% as a team loan and working capital in the form of cash credit or like a composite loan consisting of capital expenditure and working capital. 
• The rate of interest is regular from 11% to 12%. 

In conclusion for weaker sections and the unemployed people they all get effective financial support. This leads to improving their entire lifestyle.