Government Loans For Small Businesses Start Up – Gives you exactly that with a detailed report on what you need to take your small business to the next level. A very critical step if you intend to succeed with your small business.
Scroll down to view your personal startup assessment report and find out what you need to get started in 30 days.
Government Loans For Small Businesses Start Up
The Startup Portal is a simple and comprehensive platform to start your own small business. Developed by entrepreneurs and consultants, it contains the tools and resources needed to develop your idea from a dream to a full-fledged business. Whether you’re brainstorming ideas, ready to register your business, starting to write a business plan or looking for funding; Get step-by-step guidance to help you get to the next step in starting your small business.
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There are no wrong answers. Take a moment to figure out where you are on the road to starting your business, and then figure out exactly what goals you need to achieve to get there.
You may have an idea of how to start your business, but we have the tools to set you up for success. Identify your business needs and access personal resources.
Get an idea, register your business and get started! Simple right? Not that much. Make sure you have everything covered with step-by-step guidance that covers EVERY phase from inception to launch.
The Startup Portal Are you ready to start your own business? Become a member to get full access to these startup tools:
Getting Start Up Business Grants In Canada
Start your small business today! Find out how the startup portal can turn your business dreams into reality.
Hear what our customers are saying about using the Startup Portal to help them achieve their small business goals.
“Take advantage of government grants to hire and hire staff to help. You pay assignments every year so take advantage and take advantage of the funding available” – Read my story
“Make your business plan as a first step. Make sure your plan clearly outlines your financing needs and your plan for success. Then apply for financing.” – Read my story
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“Funding is available, but you have to know where to look, you have to have a business plan and if you have a proven model, that’s your best tool to get funding.” – Read my story
Well, all I can say is that if you need financing, get it. Be active and proactive about it. Don’t just sit on the idea that you need it, do it
“Having knowledge in your industry is what will keep you motivated, and having expert guidance along the way doesn’t hurt. We benefit greatly from government funding and it all depends on…” – Read my story
“Your business plan is very important to the success of your business. Everyone is looking at this! Make sure you have your idea on paper and show how it will make money.” – Read my story
Getting Canadian Government Funding For Your Business
A business plan is the key to a successful business, as well as the way to get government funding
START A SMALL BUSINESS IN YOUR PROVINCE Find out how other entrepreneurs in your province have started their own small businesses.
START A SMALL BUSINESS IN YOUR OWN INDUSTRY Do you have what it takes to be a small business owner in your industry? The entrepreneurial dreams of Indians have given the country more than 94 unicorns in recent years. This number is expected to cross a century by the end of 2022. Startups in the SME sector have been at the heart of the Indian economy and have generated millions of jobs for people across the country.
MSMEs alone are expected to contribute 8% of global GDP, and startups play a major role in that. But, unfortunately, not all entrepreneurial dreams get a chance to take off due to lack of funds. With this in mind, the Indian government offers various government loans to help passionate entrepreneurs get through.
Startup Business Loans And Msmes By The Indian Government
Budding entrepreneurs with a revolutionary idea in mind should use government loan schemes to turn their ideas into action. To further assist all entrepreneurs, we have put together this epic guide that contains all the information on how to get a government loan for a startup.
Although the exact eligibility criteria will vary depending on the public loan that people take out, the general criteria common to all loans are:
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Government business loans have always provided the necessary financial support to start-ups. If a startup needs financial help, founders may want to apply for one of the following government loans.
Grants Guide: Bc Small Business Grants
Launched in 2015, this government loan scheme provides business loans to non-corporate and non-agricultural small and micro enterprises. Under this scheme, startups can avail a loan amount of up to Rs. 10, 00, 000. The repayment term of this unsecured loan varies from one year to five years. Beginners can avail this loan by visiting any nearest small finance bank, microfinance institution, commercial bank and non-banking finance company.
The Pradhan Mantri MUDRA Yojana provides loans depending on the stage of development of the startup. Consequently, applicants can find the following three segregations under this loan:
Startup founders can apply for this loan if they are traders, shopkeepers, vendors, etc. is Just visit any lending institution mentioned above or log into a PSB or 59 minute portal and do the needful. They take it further. Startups can avail this loan as a working capital loan through the offered MUDRA card.
As the name suggests, this loan offered by the government is approved within 59 minutes. Introduced by SIDBI, this loan is ideal for small and medium enterprises that require capital assistance of less than Rs. 10, 00, 00, 000 at a slightly lower interest rate. In some cases, the interest rate is as low as 8%.
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To avail this loan scheme from Public Sector Banks (PSBs), startup founders can visit Central Bank of India, Canara Bank, Bank of Baroda, Bank of India, SBI etc. to get a hassle-free loan application process. Once the loan application is processed and approved, applicants can get the amount within 8-10 business days. Startup founders can also visit the PSB Loan in 59 Minutes portal to get more details about this loan scheme and apply.
Also known as CGTMSE, this government loan offers unsecured loans to startups. Launched by the SIDBI and MSME Ministry, this loan scheme offers a loan amount of up to Rs. 2, 00, 00, 000 for new and existing startups. Women entrepreneurs have a special preference within this loan scheme. Under the CGTMSE, startups can get an unsecured loan of up to Rs. 10, 00, 000. But for any amount above this value, startups will have to provide collateral in the form of any building or land attached to the core business.
Those who want to avail CGTMSE loan can approach a scheduled commercial bank or choose a local rural bank classified by NABARD for loan approval. Both new and existing startups can apply for this loan involved in manufacturing, retail and service activities.
The NSIC has signed MoU with various banks to provide super fast and hassle free loans to various startups. Launched by the Ministry of MSME, this unique loan facility is offered by the NSIC under the central government. The best part of this government loan is that NSIC also helps in completing the complete documentation and legal formalities to avail the loan quickly.
Small Basic Loan Scheme
Small or medium-sized businesses that need a short-term loan to maintain working capital or other operations should consider applying for this loan. It is a fairly low interest loan and can be availed by any reputed banking institution like HDFC bank, ICICI bank, Axis bank, YES bank etc.
Also known as CCLCSS, it is a loan provided by the Ministry of MSME and Government of India to startups for technology upgradation. Startup founders who own a manufacturing company, a textile company, a manufacturing unit or any company that uses machinery and equipment should avail this loan of up to Rs. 15 lakh to upgrade to the latest technology. This loan helps startups stay up-to-date with technology to withstand local and global competition.
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Now that information related to the top business loans offered by the government to startups is available, some entrepreneurs may be confused about which to proceed. The answer is quite simple. Each loan discussed above has a different purpose, interest rate, credit limit, etc. Startup founders should pursue whatever helps the business stay afloat and even scale in the best possible way.
Pros And Cons Of Government Business Loans
To apply for any of the above government business loans, startup founders can go to the respective website of the financial institution providing the loan, fill out the application and wait for someone from the organization to contact them.
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