Under this scheme, Entrepreneurship Development Programme is offered as a package which apart from consultation, training, sensitization and facilitation for preparation of detailed project reports, also include an incentive in the form of non-refundable seed money to enable prospective entrepreneurs to start their ventures and make their projects bankable. As per the guidelines, the prospective entrepreneurs are to be provided with Under this scheme, Entrepreneurship Development Programme is offered as a package which apart from consultation, training, sensitization and facilitation for preparation of detailed project reports, also include an incentive in the form of non-refundable seed money to enable prospective entrepreneurs to start their ventures and make their projects bankable.
As per the guidelines, the prospective entrepreneurs are to be provided with seed capital equivalent to 35 % of the project cost upto a maximum of Rs. 4.00 lakh in respect of undergraduates, Rs. 5.00 lakh in respect of graduates, Rs. 6.50 lakh for Post graduate and Rs. 10.00 Lakh for Professional/Technical graduates. However, for group initiatives the upper limit will be relaxable upto the sum of total of individual entitlement, within the age group of 18 to 40 years for General Candidate and 18 to 42 years for the differently/specially abled persons.
Under the Scheme, soft loan @ 6% interest (simple) is being made available to the Under the Scheme, soft loan @ 6% interest (simple) is being provided to prospective entrepreneurs with minimum qualification of 10+2 in an off-bank mode. The pattern of funding is 90% as Loan Component and 10% as Beneficiary Contribution.
The Projects with an investments upto Rs. 12.00 lacs for 10+2, Rs. 15.00 lacs for graduates, Rs. 18.00 lacs for post and Rs. 20.00 lacs for professional/Technical graduates will be considered within the age group of 18 to 40 years for General Candidate and 18 to 42 years for the differently/specially abled persons.
The scheme aims at initiating various welfare measures for the socio-economic up-liftment of women. It envisages direct loaning facilities at a low rate of interest to the women entrepreneurs of the State through the Women Development Corporation. The pattern of funding is in the ratio of 90 % as State Share, 10% as Beneficiary contribution under the scheme. Women’s Development Corporation provides direct loan facility up to Rs. 3.00 lac at a very low rate of Interest (6% per annum) and margin money amounting to 10% of the project cost. Moratorium period is 6 months and the loan amount along with interest is recovered within 5 years within the age group of 18-45 year with minimum qualification of Matric or above.
The corporation has been set up to promote economic and developmental activities for the benefit of “Backward sections” amongst the minorities, preference being given to the occupational group and women. The Muslims, Christians, Sikhs, Buddhists and Parsis have been notified as minorities by the centre Government under the National Minority Commission Act 1992. JKEDI has been appointed as an additional state channelizing Agency for NMDFC Scheme, which is under the Minister of Minority Affairs Govt. of India. Presently, the Institute is implementing the Education and Term Loan Schemes of the said Corporation. The patter of funding for (a) Term Loan is 85% as central Share, 10% as State share and 5% as beneficiary contribution (b) Education Loan is 90% as Central share and 10% as State Share Under the schemes, credit facility is being provided to the targeted beneficiaries of the State belonging to the Minority Communities at an interest rate of 6% per annum for Term loan and 3% per annum for Education Loan.
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