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This scheme by Kerala Startup Mission offers soft loans up to ₹15 Lakhs to women-led startups for Read More... working capital on projects from government departments and public sector undertakings in Kerala. Read less
Details
Are you a woman entrepreneur in Kerala looking for financial support to scale your startup? The Kerala Startup Mission (KSUM) has a scheme designed just for you. It offers a helping hand through soft loans to boost your working capital.
What is the Soft Loan Scheme for Women Entrepreneurs?
This initiative by the Kerala Startup Mission aims to empower women entrepreneurs. It provides a soft loan of up to ₹15 Lakhs. This loan is meant to help your startup manage its working capital effectively, especially for fulfilling projects and work orders secured from government departments and public sector undertakings (PSUs) operating in Kerala.
Who is This Scheme For?
The scheme is specifically for women entrepreneurs and women-led startups. To be considered a women's enterprise, at least 51% of the shares must be held by women founders. If the enterprise has received equity funding, this majority stake by women founders must be maintained.
Why is This Scheme Important?
Many startups, particularly those led by women, face challenges in managing cash flow when taking on significant projects. This scheme addresses that by providing crucial working capital, enabling women entrepreneurs to confidently accept and execute orders from government and PSU clients, thereby fostering growth and financial stability.
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Who Can Apply?
- Your startup must be approved by the Department for Promotion of Industry and Internal Trade (DPIIT) and possess a Unique ID issued by the Kerala Startup Mission.
- The women co-founder must hold a majority stake in your startup.
- Your startup must be registered in Kerala.
- The client placing the purchase order must be a Government Department or a Public Sector Undertaking.
Important: Before you can avail of this loan, your startup will need to sign an agreement with the Kerala Startup Mission. Also, the women founder will be required to provide a personal guarantee for the loan.
How to Apply
- The application process is online.
- You need to submit the application form through the official website of the Kerala Startup Mission.
- Official Application Link: Click here to apply
Documents You Might Need
- Udyog Aadhar or Udyam Registration certificate.
- KSUM Unique ID.
- A copy of your PAN Card.
- Copy of the Memorandum of Understanding (MOU).
- Details of the soft loan you are requesting from KSUM.
- Any other document that the recommending or sanctioning authority may ask for.
FAQ’s
What exactly is the 'Soft Loan Scheme for Women Entrepreneurs'?
This scheme provides financial support to women startups in Kerala in the form of a soft loan, limited to ₹15 Lakhs. It's meant to cover working capital needs for projects and work orders obtained from Kerala-based government departments and Public Sector Undertakings.
Can you explain what 'Women Entrepreneurs' means in this context?
In this scheme, 'Women Entrepreneurs' refers to women or groups of women who start, manage, and run a business. For a business to qualify as a women's enterprise, women founders must hold at least 51% of its shares. This ownership rule also applies if the company has received equity funding.
Which government body is responsible for implementing this scheme?
The scheme is implemented by the Kerala Startup Mission, which is part of the Government of Kerala.
What kind of startups are eligible for this scheme?
Eligible startups are those led by women, where a woman co-founder holds the majority stake. The startup must also be registered in Kerala and approved by DPIIT, with a valid Unique ID from KSUM.
Is it a requirement for the startup to be approved by DPIIT?
Yes, it is necessary for the startup to have approval from DPIIT and hold a Unique ID issued by the Kerala Startup Mission to be considered for this scheme.
Does my startup need to be registered in Kerala?
Yes, to be eligible for the Soft Loan Scheme for Women Entrepreneurs, your startup must be registered within the state of Kerala.
What is the main benefit provided by this scheme?
The primary benefit is a soft loan of up to ₹15 Lakhs, which serves as working capital for your women-led startup to execute projects and works secured from government departments and PSUs.
What is the interest rate applied to the loan?
The soft loan offered against a purchase order comes with a simple interest rate of 6% per annum.
How long do I have to repay the loan?
The repayment period for the loan is set at 1 year from the disbursement date, or until the project is fully completed and settled by the client, whichever occurs first.
What types of projects or works are supported by this loan?
The loan is specifically for implementing works and projects that you have secured directly from government departments and Public Sector Undertakings located in Kerala.
How do I go about applying for this scheme?
You can apply online through the official website of the Kerala Startup Mission. The direct link to the application form is provided on their portal.
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