India’s economy is based primarily on small and medium-sized firms (SMEs), which create jobs and propel economic expansion. The Haryana government has established a number of financing programmes to assist MSMEs since it acknowledges the significance of SMEs. These programs are designed to give money to business owners who wish to launch new ventures or grow already established ones. We’ll talk about the credit options for MSMEs in Haryana in this blog post.

Haryana Swarn Jayanti Udyami Yojana

The Haryana government introduced the Haryana Swarn Jayanti Udyami Yojana (HSJUY) as a financing program to encourage women and SC/ST entrepreneurs to start their own businesses. Eligible applicants can receive financial help up to Rs. 1 crore under this plan. Repayment of the loan is due in seven years, with a two-year grace period. This loan has an annual interest rate of four percent.

1. Name of Scheme: HSJUY
2. Gender: SC/ST and women
3. Education Qualification: 10th pass or above
4. Age: 21-50 years
5. Social Category: SC/ST and women
6. Industry Profile: Manufacturing, service, and agriculture
7. Rural/Urban: Both
8. State Govt/Central Govt: State Govt

Mukhya Mantri Vyapari Samuhik Niji Durghatna Beema Yojana

Launched by the Haryana government, the Mukhya Mantri Vyapari Samuhik Niji Durghatna Beema Yojana (MMVSNDBY) is an insurance policy for MSMEs. The program offers MSMEs insurance protection in the event of mishaps, owner disability, or death. The government subsidizes the premium for this plan, and the amount guaranteed changes based on the premium amount.

1. Name of Scheme: MMVSNDBY
2. Gender: Not applicable
3. Education Qualification: Not applicable
4. Age: Not applicable
5. Social Category: Not applicable
6. Industry Profile: MSMEs
7. Rural/Urban: Both
8. State Govt/Central Govt: State Govt

1. The Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) Loan:

The Haryana government introduced the initiative as a financing program to help MSMEs financially. Eligible applicants can receive loans up to Rs. 50 lakhs under this plan. Repayment of the loan is due in seven years, with a two-year grace period. This loan has an annual interest rate of ten percent.

1. Name of Scheme: MMVSNDBY
2. Gender: Not applicable
3. Education Qualification: Not applicable
4. Age: Not applicable
5. Social Category: Not applicable
6. Industry Profile: MSMEs
7. Rural/Urban: Both
8. State Govt/Central Govt: State Govt

Prime Minister’s Employment Generation Programme

The Prime Minister’s Employment Generation Programme (PMEGP) is a financing initiative established by the central government to give financial assistance to MSMEs. This scheme provides qualifying candidates with loans of up to Rs. 25 lakhs. The loan is repayable over 5-7 years, including a 2-year moratorium period. This loan carries an annual interest rate of 12%.

1. Name of Scheme: PMEGP
2. Gender: Not applicable
3. Education Qualification: Not applicable
4. Age: 18-35 years
5. Social Category: Not applicable
6. Industry Profile: Manufacturing, service, and agriculture
7. Rural/Urban: Both
8. State Govt/Central Govt: Central Govt

Credit Guarantee Fund Trust for Micro and Small Enterprises

The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) is a lending scheme established by the national government to provide collateral-free loans to MSMEs. Eligible applicants can get loans of up to Rs. 2 crores through this scheme. The loan is repayable in 5-7 years, with a one-year moratorium period. The interest rate for this loan varies according on the lender.

1. Name of Scheme: CGTMSE
2. Gender: Not applicable
3. Education Qualification: Not applicable
4. Age: Not applicable
5. Social Category: Not applicable
6. Industry Profile: Manufacturing, service, and agriculture
7. Rural/Urban: Both
8. State Govt/Central Govt: Central Govt

Haryana Swarna Udyam Nidhi

Haryana Swarna Udyam Nidhi is an initiative developed by the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) to provide financial support to the state’s MSMEs. This initiative provides qualified MSMEs with loans of up to Rs. 20 lakhs at an annual interest rate of 9%. This loan has a repayment period of 7 years, which includes a 1-year moratorium period.

1. Name of Scheme: Haryana Swarna Udyam Nidhi
2. Gender: Not applicable
3. Education Qualification: Not applicable
4. Age: Not applicable
5. Social Category: Not applicable
6. Industry Profile: Manufacturing, service, and agriculture
7. Rural/Urban: Both
8. State Govt/Central Govt: State Govt

Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) Loans

HSIIDC also provides loans to Haryana’s MSMEs for the purpose of establishing new units, expanding, modernizing, diversifying, and rehabilitating existing ones. The loan amount offered by HSIIDC is based on the project’s requirements, with a maximum ceiling of Rs. 20 crore. The interest rate for this loan varies according on the lender.

1. Name of Scheme: HSIIDC Loans
2. Gender: Not applicable
3. Education Qualification: Not applicable
4. Age: Not applicable
5. Social Category: Not applicable
6. Industry Profile: Manufacturing, service, and agriculture
7. Rural/Urban: Both
8. State Govt/Central Govt: State Govt

Chief Minister’s Good Governance Associates (CMGGAs) Scheme

The Chief Minister’s Good Governance Associates (CMGGAs) Scheme was established by the Haryana government to promote good governance and development in the state. This plan hires young professionals as CMGGAs and places them in various government ministries. They collaborate closely with government authorities to identify shortcomings in the implementation of various plans and provide solutions to address them.

1. Name of Scheme: CMGGAs Scheme
2. Gender: Both
3. Education Qualification: Graduate or Postgraduate
4. Age: 21-42 years
5. Social Category: Not applicable
6. Industry Profile: Not applicable
7. Rural/Urban: Both
8. State Govt/Central Govt: State Govt

These loan schemes and professional schemes are offered to Haryana’s MSMEs and young professionals, providing them with the financial support and job chances they need to expand their enterprises and the state’s economy.

Finally, Haryana’s MSMEs have access to a variety of credit initiatives that help them start or develop their operations. These lending plans provide flexible repayment terms and low interest rates, making them an appealing alternative for entrepreneurs. MSMEs should take advantage of these programs to expand their operations and contribute to the growth of the Haryana economy.