Govt disburses concessional loans of Rs 1.05 billion to 922 startups
Summary
The government has disbursed Rs 1.057 billion in concessional loans to 922 startups under its startup financing scheme. The program offers collateral-free loans at 3 percent interest to eligible firms registered within the past 10 years and with annual turnover up to Rs 150 million.
Key Points
- A total of 922 startups received concessional loans worth Rs 1.057 billion under a government scheme.
- The initiative is managed by the Industrial Enterprise Development Institute under the Ministry of Industry, Commerce and Supplies.
- Eligible startups can get collateral-free loans of Rs 500,000 to Rs 2 million at a 3 percent interest rate.
- The startup loan program is part of the government’s 39-point Immediate Reform Work Plan for Promotion of Effective Public Service 2025.
