Bussines People Ke Liye ₹10 Lakh Loan: Friends, let’s learn about PMFME loan application online which helps you to easily take a loan online, you can easily apply for this loan online as well, for this, you will not need to run anywhere, let’s know in detail !!
friends, if you are thinking of doing a business related to food, then you can easily get help from the government, you can easily take a loan of 10 lakhs for your food business,
The Pradhan Mantri Micro Food Processing Enterprises (PMFME) Scheme aims to promote the food processing industry. Under this, financial assistance, technical training, and marketing facilities are provided to entrepreneurs.
This scheme covers micro, small, and medium enterprises (MSME) and is part of the Atmanirbhar Bharat Abhiyan.
PMFME loan application online (Overview)
| Description | Information |
|---|---|
| Name of the scheme | Prime Minister Micro Food Processing Enterprises (PMFME) |
| Objective | Promoting the food processing industry |
| Beneficiary | Micro, Small and Medium Enterprises (MSME) |
| Financial Aid | 35% of the project cost, up to a maximum of Rs 10 lakh |
| Type of Assistance | Working Capital and Fixed Capital |
| Included Features | Financial assistance, technical training, marketing facilities |
| part of the plan | Atmanirbhar Bharat Campaign |
PMFME loan benefits
There are several benefits of the Pradhan Mantri Micro Food Processing Enterprises (PMFME) Scheme, which strengthen the food processing industry:
- Financial assistance: Under this scheme, entrepreneurs get financial assistance of up to 35% of the project cost, up to a maximum of Rs 10 lakh. This assistance is available for both working capital and fixed capital.
- Technical training: Under the PMFME scheme, entrepreneurs are trained in the latest technologies and processes related to food processing. This improves the quality of their products and increases production capacity.
- Marketing and Branding Assistance: Under this scheme, entrepreneurs get assistance in marketing and branding their products. This helps them to compete in the market and create an identity for their products.
- Development of infrastructure: The scheme develops the necessary infrastructure for food processing units. This helps entrepreneurs to run their production smoothly.
What is the eligibility required for a PMFME loan?
Some of the eligibility criteria for PMFME loan are:
- Age: Applicant must be above 18 years of age.
- Business: Micro entrepreneurs, farmer-producer organizations, self-help groups, and cooperatives involved in food processing can apply.
- Project Proposal: A detailed project report (DPR) must be prepared, containing details of the business, cost, and profit.
- Experience: Experience in food processing is preferred.
- Credit score: If you want to take advantage of this loan, then let us tell you that your credit score must be good to get the loan, that is, your CIBIL should not decrease due to any loan
Also, Apply This Loan
What documents are required for a PMFME loan
You have to submit some important documents for the PMFME loan:
- Identity Proof: Aadhaar Card, PAN Card, or Voter ID.
- Address Proof: Electricity Bill, Ration Card, or Aadhar Card.
- Business Proof: Business Registration Certificate or MSME Certificate.
- Bank Statement: Bank statement of last 6 months.
- Income Proof: ITR (Income Tax Return) or Salary Slip.
- Photograph: Passport size photo.
- Project Report: Detailed project report containing the business plan.
PMFME loan interest & fees
| interest and expenses | Description |
|---|---|
| interest rate | 8% to 12% per annum |
| Processing Fees | 0.5% to 1% of loan amount |
| Margin Money | 10% to 25% of the project cost |
| documentation fee | Determined by banks and NBFCs |
| Insurance premium | Applicable as per property and project |
How to apply online for a PMFME loan
The process of applying for a PMFME loan online is very simple.
- Visit Website: Firstly, visit the official website of the PMFME Scheme, visit here – PMFME Application
- Register : Click on the “Register” or “New User” option on the website. Enter your name, email, mobile number, etc., and complete the registration process.
- Login : After registration, login to the website using your login credentials.
- Upload Documents : Scan and upload all required documents like Identity Card, Address Proof, Project Report etc.
- Submit Form : After filling and uploading all the information and documents, recheck the form once and click on the “Submit” button.
- Acknowledgement Receipt: After applying you will get an acknowledgement receipt which you should keep safe for future reference.
How to apply for a PMFME loan from a bank?
- Begin by preparing your business plan and gathering the required documents, including your identity card, address proof, bank statements, project report, and other necessary paperwork.
- Bank Selection
Choose the nearest bank branch that offers loans under the PMFME (Prime Minister Formalisation of Micro Food Processing Enterprises) scheme. - Get the Form
Obtain the PMFME loan application form from the bank or download it from the bank’s official website. - Fill Out the Form
Carefully complete the application form with accurate and up-to-date information. - Attach Documents
Attach the necessary documents to the application form, such as your identity proof, address proof, and project report. - Submit the Form
Submit the completed application form along with the attached documents to the designated bank branch. Make sure to collect a receipt from the bank official as confirmation. - Interview
Bank officials may review your application and conduct an interview if required to better understand your business and loan requirements. - Verification
The bank will then verify your documents and business information to ensure all details are accurate. - Acceptance/Rejection
After completing the verification process, the bank will either approve or reject your loan application based on its findings. - Loan Disbursement
If your loan is approved, the bank will disburse the loan amount directly into your bank account.