Question: What are the eligibility criteria for Bank Loan Processing Fee Reimbursement Scheme?

Answer: Here are the eligibility criteria for Bank Loan Processing Fee Reimbursement Scheme:

Ministry Of Micro, Small and Medium EnterprisesBank Loan Processing Fee Reimbursement
SchemeEntrepreneurshipFinancial AssistanceMSMEReimbursementDetailsBenefitsEligibilityApplication ProcessDocuments
RequiredFrequently Asked QuestionsThe Ministry of Micro, Small & Medium Enterprises (MSME) has established the Bank Loan
Processing Fee Reimbursement Scheme. This scheme functions as a sub-component of the broader National Scheduled Caste and
Scheduled Tribe Hub (NSSH) program.ï»¿The Bank Loan Processing Fee Reimbursement Scheme provides crucial financial assistance
by reimbursing a substantial portion of the processing fees charged by financial institutions (FIs) when SC/ST MSEs secure business
loans. This includes loans supported by both fund-based and non-fund-based limits. By alleviating the upfront financial burden of loan
processing fees, the scheme aims to:Enhance access to capital for SC/ST MSEs: By reducing the initial cost of securing a loan, the
scheme encourages SC/ST entrepreneurs to pursue their business aspirations.Promote inclusive economic development: This targeted
initiative fosters the growth and success of SC/ST-owned businesses, contributing to a more equitable and diversified
economy.Strengthen entrepreneurial ecosystems: By simplifying the loan application process for SC/ST MSEs, the scheme fosters a
more supportive environment for their entrepreneurial endeavorsOkWas this helpful?ShareNews and UpdatesNo new news and updates
availableÂ©2024Powered byDigital India Corporation(DIC)Ministry of Electronics & IT (MeitY)Government of IndiaÂ®Quick
LinksAbout UsContact UsScreen ReaderAccessibility StatementFrequently Asked QuestionsDisclaimerTerms & ConditionsUseful
LinksGet in touch4th Floor, NeGD, Electronics Niketan, 6 CGO Complex, Lodhi Road, New Delhi - 110003, Indiasupport-
myscheme[at]digitalindia[dot]gov[dot]in(011) 24303714Last Updated On : 28/03/2024 | v-2.1.1