Scheme for Interest Subvention to Nano Household Enterprises

This scheme has been introduced to promote the Nano and household enterprises in the state. The scheme intends to provide financial assistance in the form of interest subvention to nano and household enterprises on a reimbursement basis for the term loan availed by the unit. The units engaged in the manufacturing as well as job work can apply under the scheme.

Nano and Household unit

A unit which satisfies the following conditions;

• The fixed capital investment is 5 lakh or less,
• Engaged in the manufacturing or job work,
• In white category as per pollution control norms,
• Connected load is 5 HP or less.

Note

• Manufacturing units which are eligible to claim assistance under the Entrepreneur Support Scheme or any other schemes of Govt. of India or Govt. of Kerala cannot apply under the scheme.
• Unit which has availed special low rate of interest from Government Agencies are not eligible for further interest subvention under this scheme.

Benefit of the scheme

• The unit will be eligible for interest subvention to an extent of 6% per annum for the term loan availed by the unit on reimbursement basis for three years.
• For women and SC/ST enterprises, the interest subvention will be 8% for three years.
• The assistance shall be limited to the fixed percentage of the composite investment upon
  (a) plant & machinery,
  (b) other fixed assets including essential office equipments and
  (c) electrification. Cost of Land and Building shall not be included in the Fixed Capital Investment under this scheme.
• In the event of default of re-payment of loan with interest at the end of 1st year, the subvention will not be passed. The same is applicable for 2nd and 3rd years.

Negative List

Photo Studios and Colour Processing Centres, Breweries and Distilleries of all types, Saw mills, Soap Grade Sodium Silicate, Asbestos processing except units in which the quantum of asbestos used in the production process is less than 25% and environmental and occupational health hazards have been taken care of to satisfaction of authorities concerned, Metal Crushers including Granite Manufacturing units, All types of Steel Re rolling Mills, Units manufacturing iron ingots, Calcium Carbide, Cement manufacturing except units manufacturing cement from fly ash, Potassium Chlorate, Cashew industrial units, Power intensive units based on electro thermal/ electro chemical processor units where total power requirement exceeds 5000 KVA of contract load or where the cost of power is more than 33% of cost of production of the items manufacture except where the units generate their power requirement in excess of 5000 KVA of contract load by own captive power. 

How to Apply

      Application can be submitted online or in person to the Assistant District Industries Officer, Taluk Industries Office concerned with all supporting documents.

      To Apply Online Click Here