The union territory of Jammu and Kashmir is home to a sizable population of micro, small, and medium-sized businesses (MSMEs). The Jammu and Kashmiri government has put in place a number of credit programmes to aid in the expansion and advancement of these businesses. We’ll talk about a few of the most well-liked loan programs for MSMEs in Jammu and Kashmir in this blog.

1. J&K Entrepreneurship Development Institute (JKEDI) Loan Scheme:

The Entrepreneurship Development Institute (JKEDI) of the Jammu and Kashmir government launched this loan program. Entrepreneurs can apply for loans under this scheme up to Rs. 50 lakhs to start or grow their company. All types of business owners can participate in the program, but in order to receive a loan, they must present a thorough project report.

1. Name of Scheme: JKEDI Loan Scheme
2. Gender: Male/Female
3. Qualification: NA
4. Age Group: NA
5. Social Category: NA
6. Industry Profile: MSMEs
7. Rural/Urban: Both
8. State Govt/Central Govt: State Govt

2. National Small Industries Corporation (NSIC) Loan Scheme:

MSMEs in Jammu & Kashmir can apply for loans through the NSIC program. The program offers loans and credit facilities as a means of supporting new and growing small enterprises. MSMEs are eligible for loans under the scheme up to Rs. 50 lakhs, with interest rates based on the creditworthiness of the company.

1. Name of Scheme: NSIC Loan Scheme
2. Gender: Male/Female
3. Qualification: NA
4. Age Group: NA
5. Social Category: NA
6. Industry Profile: MSMEs
7. Rural/Urban: Both
8. State Govt/Central Govt: Central Govt

• Jammu and Kashmir Bank Loan Scheme:

A variety of credit programmes, such as term loans, working capital loans, and equipment loans, are available from the Jammu and Kashmir Bank to MSMEs. The interest rate on loans up to Rs. 5 crores that are provided by the bank depends on the creditworthiness of the business and the kind of loan that is taken out.

1. Name of Scheme: JKEDI Loan Scheme
2. Gender: Male/Female
3. Qualification: NA
4. Age Group: NA
5. Social Category: NA
6. Industry Profile: MSMEs
7. Rural/Urban: Both
8. State Govt/Central Govt: State Govt

3. Seed Capital Fund Scheme

The Jammu & Kashmir State Financial Corporation (SFC) offers up to Rs. 50 lakhs in loans as seed capital to new businesses under this initiative. The program’s objectives are to support first-generation business owners and the expansion of MSMEs within the state. Land, machinery, equipment, working capital, and other things can be purchased with the loan. The program is open to all qualified people and businesses in Jammu & Kashmir, both urban and rural.

1. Name of Scheme: Seed Capital Fund Scheme
2. Gender: Any
3. Qualification: Not Specified
4. Age Group: Up to 50 years
5. Social Category: Not specified
6. Industry Profile: Innovative MSME projects
7. Rural/Urban: Both
8. State Govt/Central Govt: State Govt

4. Credit Linked Capital Subsidy Scheme (CLCSS)

The Credit Linked Capital Subsidy Scheme is designed to give qualifying MSMEs capital investment subsidies so they can upgrade and modernize their production technologies and equipment. All qualifying MSMEs in Jammu & Kashmir are welcome to participate in the program. A 15% capital subsidy on plant and machinery investments made by qualified businesses is available under this initiative, up to a maximum of Rs. 15 lakhs. In Jammu & Kashmir, MSMEs in both urban and rural areas are eligible for the program.

1. Name of Scheme: Credit Linked Capital Subsidy Scheme (CLCSS)
2. Gender: Any
3. Qualification: Not Specified
4. Age Group: Not Specified
5. Social Category: Not specified
6. Industry Profile: All industries
7. Rural/Urban: Rural/Urban
8. State Govt/Central Govt: Central Govt

• Mahila Udyam Nidhi Scheme:  

With the help of this program, women entrepreneurs in Jammu and Kashmir will be able to launch or grow their own micro or small businesses. The maximum loan amount under the initiative is Rs. 10 lakhs, with an interest rate of up to 9.35%. For loans up to Rs. 2 lakh, collateral security is not needed, and the payback period may last up to ten years.

1. Name of Scheme: Mahila Udyam Nidhi Scheme
2. Gender: Women
3. Qualification: 8th standard pass
4. Age Group: 18 – 55 years
5. Social Category: All categories
6. Industry Profile: All industries
7. Rural/Urban: Rural/Urban
8. State Govt/Central Govt: Central Govt

5. Anusuchit Jati Shiksha Udyami Yojana: 

The purpose of this program is to give SC/ST business owners in Jammu and Kashmir financial support so they can launch their own ventures in the education industry. The initiative allows for a maximum loan amount of Rs. 15 lakhs and a maximum interest rate of 6%. For loans up to Rs. 2 lakh, collateral security is not needed, and the payback period may last up to 7 years.

1. Name of Scheme: Anusuchit Jati Shiksha Udyami Yojana
2. Gender: SC/ST
3. Qualification: 10th standard pass
4. Age Group: 18 – 55 years
5. Social Category: All categories
6. Industry Profile: Education industry
7. Rural/Urban: Rural/Urban
8. State Govt/Central Govt: State Govt

6. Mahila Shakti Kendra Scheme: 

This programme gives women in rural Jammu and Kashmir the chance to launch their own businesses in an effort to empower them. Under the initiative, women can participate in training and skill development programs as well as receive financial support for starting small businesses. The program also aims to raise public knowledge of government initiatives and programs that support female entrepreneurs.

1. Name of Scheme: Mahila Shakti Kendra Scheme
2. Gender: Women
3. Qualification: Any
4. Age Group: 18 – 45 years
5. Social Category: All categories
6. Industry Profile: All industries
7. Rural/Urban: Rural
8. State Govt/Central Govt: Central Govt

7. Anusuchit Jaati Nai Roshni Yojana: 

The purpose of this program is to encourage SC/ST women in Jammu and Kashmir to become entrepreneurs. The initiative offers financial support for the establishment of micro and small businesses, as well as training and skill development opportunities for women. The interest rate might reach 6%, and the maximum loan amount is Rs. 5 lakhs.

1. Name of Scheme: Anusuchit Jaati Nai Roshni Yojana
2. Gender: Women
3. Qualification: Any
4. Age Group: 18 – 50 years
5. Social Category: SC/ST
6. Industry Profile: All Industry
7. Rural/Urban: Rural/Urban
8. State Govt/Central Govt: State Govt