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Rs 30 lakh loan for 5% interest! Young entrepreneurs can obtain loan easily – Times Bull

Rs 30 lakh loan for 5% interest! Young entrepreneurs can obtain loan easily

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The need for small enterprises has increased to drive the nation’s economy ahead. In this situation, startups hold an essential position. Under the leadership of Prime Minister Narendra Modi, the Indian government has launched numerous initiatives to promote the growth of startups. Many young individuals nowadays wish to start their own businesses, yet insufficient funding presents a significant challenge for them. In this situation, startups can easily obtain seed funding from the Central Government program.

A businessman named Preetesh Lakhani has provided comprehensive insights about this on the social media platform X.

 

In his post, he describes the steps he took to obtain a government loan for his latest business project. He received a loan of Rs 30 lakh at an annual interest rate of 5 percent. In simpler terms, he secured the loan at a monthly interest rate below 0.5%. Startup India is the main program aimed at generating employment for the youth. Startups can obtain up to Rs 50 lakh in initial investment from the government, enabling young entrepreneurs to launch their ventures.

Startup India initiative offers seed funding as a form of initial capital

The Startup India initiative offers seed funding as a form of initial capital from the government. A maximum loan of Rs 50 lakh can be acquired. The loan is available at an annual interest rate of just 5 percent. This suggests that you pay Rs 2.5 lakh annually in interest on a loan of Rs 50 lakh. To secure seed funding, startups must acquire certification from DPIIT. Visit the Startup India site and register. Fill out the application form and submit it.

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