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Loans up to Rs 10 crore for agro-based industries; Five percent interest concession; Assistance to 400 enterprises this year

A scheme to offer loans of as much as Rs 10 crore to agriculture-based industries at an rate of interest of 5 % has been launched. This 12 months, 400 enterprises shall be assisted. The scheme introduced within the state funds is applied by the Kerala Monetary Company (KFC). Loans as much as 90 % of the challenge quantity. The mortgage is from Rs.5 lakh. Three % of the curiosity shall be borne by the state authorities and two % by KFC. Entrepreneurs have to pay 5 %. To be repaid inside ten years. There’s a two-year moratorium.

Loans are for small and medium agro-industrial models, agro-based start-ups, dairy- and animal husbandry-related industries, processing, advertising and buying and selling of agro-based merchandise, meals processing models, warehouses, storage sheds, chilly storages, agro-based infrastructure improvement initiatives and many others. The plan will think about all monetary necessities together with organising of latest models, renovation of present ones, buy of equipment, working capital necessities and many others. There’s half rest in utility processing payment. Apply on-line by KFC web site.

About 40 % of the small and medium industries within the state are agro-based. KFC CMD Sanjay Kaul mentioned that the scheme shall be of nice assist to entrepreneurs on this sector.

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