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Mritunjoy Mushahary

Which is the best Loan to apply for start-up or new Business in India?

I want to start my new Business, but because I don't have any revenue, the bank is not willing to give me loan.

I would like to know which Loan should I apply for my new business or start-up.

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05 Nov 2024

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Mritunjoy Mushahary

If you want to start your new Business, then you can apply for these loans:

  1. PMEGP (Prime Ministers Employment Generation Programme). This loan is good mostly for buying machinery and setting up your new shop or store. This Loan has Subsidy. To know more about it click here https://msme.gov.in/1-prime-ministers-employment-generation-programme-pmegp
  2. Mudra Loan. This loan is good if you want only working capital for your business. But this loan don't have subsidy. To know more about it, click here https://www.mudra.org.in/


Warning: You can apply for only one of this Scheme at the same time. If you try to apply for both, you will get rejected. Go to your nearest DIC/KVIC/KVIB office and talk with Nodal officer first, before applying it.

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