Who can apply for the PMEGP scheme?
PMEGP is mainly for individuals who want to start a new unit in manufacturing, service, or eligible trading / business activities. The applicant should generally be at least 18 years old. Manufacturing projects can go up to ₹50 lakh and service or business projects can go up to ₹20 lakh. Existing units that have already taken subsidy under certain government schemes are normally not eligible.
How do I apply online for a PMEGP loan?
First, create your Project Report using FortRisk software and download the bank-ready report. Then visit the official PMEGP portal, fill the online application, choose your preferred bank for processing, and upload the Project Report along with the required documents.
Which banks offer PMEGP loans and what interest rate applies?
PMEGP loans are processed through participating banks. While applying online, you can select the bank and branch where you want your application to be processed. The interest rate is usually as per the bank’s lending policy, applicant profile, project viability and loan appraisal.
What documents are required for a PMEGP application?
Common documents include Aadhaar, PAN, address proof, photograph, education proof where applicable, category or special category certificate if applicable, Project Report, quotation for machinery or assets, and any other documents asked by the PMEGP portal or processing bank.
How much subsidy can I get on a PMEGP loan?
PMEGP subsidy generally ranges from 15% to 35% of the eligible project cost, depending on your category and whether the unit is in an urban or rural area. The maximum project cost is generally up to ₹50 lakh for manufacturing and up to ₹20 lakh for service or business activities.
Which types of businesses qualify for PMEGP assistance?
PMEGP supports eligible new units in manufacturing, service and certain business activities. Examples may include small manufacturing units, food processing, garment or textile units, repair services, workshops, machinery-based units and other eligible activities as per PMEGP guidelines.
What is a Detailed Project Report (DPR) for PMEGP?
A Detailed Project Report, or DPR, explains your business plan, project cost, subsidy, loan requirement and repayment capacity. FortRisk helps you create a detailed 27-page PMEGP Project Report with CMA Data, subsidy calculation, P&L, Balance Sheet, Cash Flow, DSCR, EMI schedule and financial projections in a bank-ready format.
Why do PMEGP loan applications get rejected?
PMEGP applications may get rejected if the business activity is not eligible, documents are incomplete, promoter contribution is not clear, project cost is not properly explained, or the bank is not satisfied with the business viability and repayment capacity. A clear Project Report with proper cost breakup, subsidy calculation, CMA Data, DSCR, EMI and financial projections can help reduce avoidable objections during bank appraisal.