Swavalambana MM Scheme & Micro Loan Scheme Form Karnataka PDF

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Swavalambana MM Scheme & Micro Loan Scheme Form Karnataka

Under this scheme, persons belonging to religious Minority communities, in association with and through Banks/financial institution, are financially assisted to start and improve Business, Small Scale Cottage Industries, Service sector, Agriculture based activities, etc., Loan is provided through various Nationalized Banks/Financial Institutions / co-operative societies for the maximum project cost up to ₹.5,00,000/. 20% of the project cost will be sanctioned by the Corporation as Margin Money loan @ 6% interest p.a and 5% of unit cost or a maximum of ₹.25,000/- as subsidy Balance is provided as a loan by the Banks/Financial institutions / co-operative societies.

Sr. No.Unit CostMM Loan from KMDCSubsidy from KMDCBeneficiary ContributionCo-op Societies Loan Portion
1.Up to ₹.25,000/-Nil50% of unit cost, Max ₹.25,000/-Nil50% of unit cost, maximum ₹.20000/-
2.₹.25,001/- upto ₹.50,000/-20% of unit cost, Max ₹.10,000/-Maximum ₹.25,000/-5% of unit cost, maximum ₹.2500/-Balance amount Max ₹.32,500/-
3.₹.50,001/- upto ₹.1,00,000/-₹.10000/- upto ₹.20,000/-Maximum ₹.25,000/-5% of unit cost, Max ₹.5000/-Balance amount, Max up to 70,000/-
4.Upto ₹.5,00,000/-20% of Unit Cost Max ₹.1,00,000/-25,000/-5% of unit cost, Max ₹.25,000/-Balance amount, Max up to 3,75,000/-

The Margin Money so sanctioned by the Corporation has to be repaid by the beneficiary in 36/60 monthly installment @ 6% interest per annum to the Corporation.

This scheme is implemented through Co-Operative Societies also who have registered under the Co-operative Societies Act 1959, and who are working for the upliftment of the minorities and are showing profit and have adequate financial support to grant a loan to its members. The Societies who desire to avail this facility should present the following documents:

  • Registration Certificate of the Society.
  • Bye-Laws of the Society.
  • Details of provisions made to get money from the State Govt.
  • Audited Report for the last 3 years.
  • Report of the Dy. registrar of Co-Operative Societies with no adverse remarks.
  • Contract deed, Guarantee letter.

II. The Government of Karnataka vides G.O.No.MWD/60/MDC/2016 dt.27.10.2016 has modified ‘Swavalambana’ Margin Money Loan and Subsidy Scheme into Self-employment Scheme.

Under the modified Scheme, Subsidy will be sanctioned to the applicants belonging to religious minority communities to start or improve business, small scale cottage industries, service sector, agriculture-based activities, with the co-ordination of Nationalised Banks. The details of benefits are as under:

(1) Subsidy of 50% or a maximum of Rs.35,000/- will be sanctioned to undertake economic activities covering the unit cost of Rs.1.00 Lakh.

(2) Subsidy of 33% or a maximum of Rs.2.00 Lakhs will be sanctioned to undertake economic activities covering the unit cost of Rs.1.00 Lakh and above.

Download the Swavalambana Margin Money Scheme & Micro Loan Scheme Form in PDF format using the link given below.

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