Scheme for Margin Money Grant to Nano Units

Scheme Category

Business & Entrepreneurship,Setting up / start-up / entrepreneurship,Credit Linked Subsidy

Target Beneficiaries

Business Entity,Industries

Brief Description

The scheme “Margin Money Grant to Nano Units” is a loan-linked scheme operated by Directorate of Industries & Commerce, Govt. of Kerala. The scheme aims to provide financial assistance to Nano units in the State, engaged in manufacturing,job work & service activity having any type of value addition.

Benefit Type

Cash

Eligibility Criteria

1. All new Nano proprietary enterprises in manufacturing/food processing and job works and units engaged in the service sector having any type of value addition, whose project cost includes fixed capital and working capital up to 10 lakhs are eligible for assistance under the scheme. 1. The unit shall not have availed any grant assistance earlier under any schemes of the Government of India & Government of Kerala or Local Self Government Department. Note 01: Preference is given to special categories such as women, handicapped persons, ex-servicemen, and persons belonging to SC/ST. Note 02: Youth entrepreneurs up to the age of 40 are also given priority under the scheme. Note 03: 30% of the beneficiaries under the scheme shall be women entrepreneurs. Note 04: Industrial units which receive the assistance will be under obligation to remain working continuously for three years from the date of receipt of the grant. However, it is necessary that a unit shall be a working one as of the date of release of the assistance. > Obligation of an applicant: 1. The applicant shall provide all required details and declare such information as to be true. 1. The applicant shall provide clarifications of further details sought by the recommending/ sanctioning authority. 1. The applicant shall allow inspection or verification of any details mentioned in the application including plant and machinery and all other assets if so required by recommending/sanctioning authority. 1. Applicants shall produce originals of any important documents if so required by the recommending/ sanctioning authority for verification including: 1. Title deed of land/land tax receipt if any/Lease agreement/rent agreement as the case may be. 1. Ownership Certificate of the building if any. 1. Invoice or bill of Plant and machinery. 1. The applicant shall execute the requisite legal agreement online and if required on paper as and when the proposal is approved for implementation and furnish the signed hard copy subsequently via post or otherwise. 1. The applicant shall utilize the amount received only in the manner agreed upon. 1. The applicant shall operate the unit as stipulated in the agreement in which the quantum of support received, failing which the assistance shall be resumed by restoring the provisions of the Kerala Revenue Recovery Act.

Application Mode

Online

Application Process

Step 01: Application can be submitted online through the Official website of the Directorate of Industries & Commerce, Government of Kerala. The applicant needs to visit the <nis:link nis:type=webUrl nis:id=slugId nis:text="official website" nis:value=https://schemes.industry.kerala.gov.in/public/index.php/schemes nis:enabled=true/>. Step 02: The applicant may select the scheme “One Family One Enterprise” from the available Online Services listed on the home page and click on the “Apply Now” option. Clicking “Apply Now” redirects to the Login Page, if the new user uses the “Registration” option and if already registered use the ‘Login’ option. Step 03: A new user can register by filling in his/her details and after successful registration, the user can login. Step 04: After successful login, the applicant may fill out the application form. Step 05: After filling out the application form completely and then click on ‘Submit’.

Required Documents

• Project Report
• Title Deed of Land/ Land Tax Receipt if applicable
• Ownership Certificate of the building if applicable
• Registered Lease Deed or Rent Deed in such cases
• Proforma Invoice/Quotation of plant, machinery and electrification
• Valuation of approved Engineer, Chattered Engineer for Civil Construction
• Sanction letter from financial institution/Bank if any
• Any other document as demanded by the recommending/sanctioning authority