Direct Loans for Business/ Enterprise

Benefit

• Under this scheme, Loan will be provided to eligible entrepreneurs to start or expand their businesses by mortgaging property (building or land).

Subsidy

• Rs 20 lakhs on 4% interest rate

Whom

Person belongs to religious minority

Eligibility

• Applicant should be resident of Karnataka state
• Applicant should belong to a minority community
• Applicant Age should be between 18 to 55 years
• Applicant should not be defaulter of K.M.D.C.
• Loans will be provided only on mortgage of property (building/land) to the corporation. The value of the property should not be less than the loan amount.
• Business/Enterprise Loan will be given to only one member of a family
• If applicant’s family income is below Rs 8.00 lakhs, then the loan will be provided upto Rs 20 lakhs on 4% interest rate
• If applicant’s family income is Rs 8.00 lakhs to 15 lakhs, loan will be provided upto Rs 20 lakhs on 6% interest rate

How to apply

https://kmdc.karnataka.gov.in/33/business-direct-credit-scheme/en

Documents to be submitted

• Copy of Aadhaar as residential proof
• Caste Certificate Issued by the competent authority
• Income Certificate Issued by the competent authority
• Lease deed/Partition deed/Release deed/Gift deed/Rental agreement/Sale deed of property
• Project report/Profile of activities from CA(Chartered Accountant)
• Quotations related to the project
• License from respective authorities with respect to property proposed to be mortgaged
• Building’s Khata extract and Khata certificate or land’s Mutation copy.
• Phodi/Partition deed with respect of revenue lands and phani-RTC
• Encumbrance Certificate-(EC)/Form No.15
• Up to date tax paid receipt from the local bodies
• Guidance value of the land from competent authority
• No objection from the family members to pledge the title deed, with family tree
• In case of building, Valuation report by registered valuer- Valuation Certificate
• Self declaration

No. 39-821, 2nd Floor, K M D C BHAVAN, Subedhar Chatra Road, Sheshadripuram, Bengaluru – 560020, Karnataka
080-22860999 /
080-22861226
[email protected]

or Contact Respective District Executive Office

Helpline: 8277799990