The northern Indian state of Himachal Pradesh is renowned for its varied industries and breathtaking scenery. The state’s economy grows in large part because of the large number of Micro, Small, and Medium-Sized Enterprises (MSMEs) it has. The Himachal Pradesh government has established a number of credit programs to aid in the expansion of these MSMEs. These programs give MSMEs financial support to launch, grow, or update their enterprises. We’ll talk about some of the main MSME lending programs in Himachal Pradesh in this blog, along with their benefits, eligibility requirements, and whether they’re state- or federal-government efforts.

Mukhya Mantri Swavlamban Yojana (MMSY) is the name of the scheme.

This program offers financial support to MSMEs in Himachal Pradesh, both new and established. The state government offers loans up to Rs. 30 lakhs under this program, with a 25% loan amount subsidy. There is a one-year moratorium before the loan must be repaid in five years.

1. Name of Scheme: MMSY
2. Gender: All
3. Education Qualification: Minimum 10th pass
4. Age: 18-50 years
5. Social Category: All
6. Industry Profile:All MSMEs
7. Rural/Urban: Rural/Urban
8. State Govt/Central Govt: State Govt
9. Benefits: Loan up to Rs. 30 lakhs with a subsidy of 25% on the loan amount

Scheme Name: Mukhya Mantri Yuva Ajivika Yojana (MMYAY)

This program offers young people without jobs financial support to launch their own MSMEs in Himachal Pradesh. The state government offers loans up to Rs. 30 lakhs under this program, with a 25% loan amount subsidy. There is a one-year moratorium before the loan must be repaid in five years.

1. Name of Scheme: MMYAY
2. Gender: All
3. Education Qualification: Minimum 10th pass
4. Age: 18-45 years
5. Social Category: All
6. Industry Profile:All MSMEs
7. Rural/Urban: Rural/Urban
8. State Govt/Central Govt: State Govt
9. Benefits: Loan up to Rs. 30 lakhs with a subsidy of 25% on the loan amount

Prime Minister’s Employment Generation Programme (PMEGP):

The Ministry of MSMEs, Government of India, is responsible for implementing the credit-linked MSMEs subsidy scheme known as PMEGP. For projects up to Rs. 25 lakhs, the state government offers a 25%–35% subsidy under this initiative.

1. Name of Scheme: PMEGP
2. Gender: All
3. Education Qualification: Minimum 8th pass
4. Age: 18 years and above
5. Social Category: All
6. Industry Profile:All MSMEs
7. Rural/Urban: Rural/Urban
8. State Govt/Central Govt: Central Govt
9. Benefits: Subsidy of 25% to 35% for projects costing up to Rs. 25 lakhs

Udyogini Scheme

In Himachal Pradesh, women entrepreneurs can establish their own MSMEs with financial support from the Udyogini Scheme. The state government offers loans up to Rs. 1 lakh under this program, with a 30% loan amount subsidy.

1. Name of Scheme: Udyogini Scheme
2. Gender: Women
3. Education Qualification: Minimum 8th pass
4. Age: 18-55 years
5. Social Category: All
6. Industry Profile:All MSMEs
7. Rural/Urban: Rural/Urban
8. State Govt/Central Govt: State Scheme
9. Benefits: Loan up to Rs. 1 lakh with a subsidy of 30% on the loan amount

Swarnima Yojana

The Swarnima Yojana is a program in Himachal Pradesh that aims to empower women. Under this program, women entrepreneurs can start their own MSMEs with a loan from the state government of up to Rs. 50,000. There is a six-month moratorium before the loan must be repaid in five years.

Additional Information and Updates

For the most recent information and updates on these lending schemes, consult government portals, financial institution websites, and policy updates. This ensures that you have the most up-to-date information and can capitalise on the opportunities accessible to MSMEs in Himachal Pradesh.

1. Name of Scheme: Swarnima Yojana
2. Gender: Women
3. Education Qualification: Minimum 8th pass
4. Age: 18-55 years
5. Social Category: All
6. Industry Profile:All MSMEs
7. Rural/Urban: Rural/Urban
8. State Govt/Central Govt: State Scheme
9. Benefits: Loan up to Rs. 50,000 to women entrepreneurs

Mukhya Mantri Swavlamban Yojana

The goal of the Mukhya Mantri Swavlamban Yojana is to give financial support to young people in Himachal Pradesh who wish to launch their own MSMEs. The state government offers qualified candidates a loan up to Rs. 30 lakhs under this plan. There is a two-year moratorium before the loan must be repaid in seven years.

1. Name of Scheme: Mukhya Mantri Swavlamban Yojana
2. Gender: All
3. Education Qualification: Minimum 10th pass
4. Age: 18-45 years
5. Social Category: All
6. Industry Profile:All MSMEs
7. Rural/Urban: Rural/Urban
8. State Govt/Central Govt: State Scheme
9. Benefits: Loan up to Rs. 30 lakhs

National Small Industries Corporation (NSIC) Subsidy

An initiative of the Central Government, the NSIC Subsidy scheme offers financial support to MSMEs in Himachal Pradesh. Eligible MSMEs can receive a 15% price subsidy on plant and machinery under this initiative. The highest amount of the subsidy is Rs. 15 lakhs.

1. Name of Scheme: NSIC Subsidy
2. Gender: All
3. Education Qualification: Not specified
4. Age: No age limit
5. Social Category: All
6. Industry Profile:All MSMEs
7. Rural/Urban: Rural/Urban
8. State Govt/Central Govt: Central Scheme
9. Benefits: Subsidy of up to 15% on the price of plant and machinery

conclusion

These initiatives give MSMEs in Himachal Pradesh additional choices for obtaining funding for their operations. Every scheme has different perks and qualifying requirements, so it’s critical for business owners to do their homework and choose which plan best meets their requirements. Finaxis project report service can help MSMEs expedite and simplify the loan approval process by helping them prepare a project report that satisfies the requirements of various lending schemes.