PMEGP Business Loan Application Process
Project Proposal:
Prospective entrepreneurs are required to prepare a detailed project proposal outlining the business idea, project cost, sources of raw materials, market potential, etc.
Application Submission:
The completed application form along with the project proposal is submitted to the respective District Industries Centre (DIC) or online through the official PMEGP portal.
Loan Screening and Sanction:
The application is scrutinised by the District Level Task Force Committee (DLTFC) and then forwarded to the banks for sanctioning the loan.
Loan:
On approval by the bank, the loan amount is disbursed to the beneficiary’s account, and the subsidy component is credited accordingly.
Documents required for PMEGP loan
- Identity card like Aadhaar card
- PAN card mandatory
- Passport size photo of the applicant Business Profile
- 8th mark sheet
- OBC, SC, ST, Ex-Serviceman, Disabled category certificate