The state government of Assam is in charge of the Sarothi Start up Fund Assam Loan Scheme, which is a program that provides entrepreneurs with financial assistance. This is a brand-new program known as the Sarothi Start-up Fund Loan Scheme or Chief Minister’s Start-up Fund Sarothi. This plan has been launched to make it easier for entrepreneurs and small businesses to get financing. The subsidized interest loan will provide the entrepreneurs with financial assistance.
The Sarothi Start Up fund is an initiative that the Indian government of Assam has launched to encourage innovation and entrepreneurship in the state. Startups and entrepreneurs receive seed capital, working capital, and other forms of financial support through the scheme.
Startups that meet the criteria can receive funding of up to INR 20 lakhs from the Sarothi Start Up Fund. The plan aims to encourage new businesses in fields like agriculture, healthcare, tourism, information technology, and others.
Startups must be registered in Assam and have a valid business plan in order to be eligible for the Sarothi Start Up fund. Additionally, they must have at least 51% ownership from Assam residents. In addition, the program offers mentoring, incubation, and other support services to assist startups in expanding and achieving success.
Application Form for the Sarothi Start up Fund Assam Loan Scheme in PDF
The Sarothi Start up Fund Assam Loan Scheme application form can be downloaded from this link: https://industries.assam.gov.in/sites/default/files/Sarothi_1.pdf. Application forms can also be obtained from the state’s designated bank branches. The application form for the Sarothi startup scheme is shown below.
Sarothi Start up Fund Assam Loan Scheme Eligibility
Below given are the details of coverage and target group under the scheme:-
- All the micro, small & medium enterprises (MSME) across the state can apply for the loan.
- The startup industry having innovative ideas and activities will get the loan easily from the bank under the scheme.
- Applicant must not be a defaulter declared by any or financial institution.
- If the applicant have any kind of special skills, he/she will get the priority by the government under the scheme.
Nonetheless, individuals of the Slope Areas of the Assam viz, Karbi Anglong and DimaHasao and so forth. will not be able to obtain a loan from the Assam Gramin Vikash Bank (AGVB), as this institution does not operate in Assam’s hilly districts. But the government of Assam will consult with other banks regarding the scheme’s implementation in hilly districts.
Startup Loan Under Sarothi Scheme
Below are the highlights of loan and role of state government under the scheme
- Eligible applicants will get a loan up to Rs. 10 lakh with 5% interest subsidy.
- the applicant will invest at least 15% of the cost of the project itself and the remaining amount will be financed by the bank.
- The number of beneficiaries for a financial year will be finalized by the DICC. In addition, DICC will also finalize district-wise AGVB branches to receive loan applications under the scheme.
- Bank branches cannot initiate the process of selection of beneficiaries under this scheme without the permission of the DICC.
- In addition, the loan application of the applicant will be supervised by the DICC officer. After inspection, the loan application will be placed before the District Level Committee for approval.
- The DLC will accept the proposal and send it to the Assam Branch of Rural Development Bank for approval of the loan amount under the scheme.
- In addition, the Department of Industry and Commerce, Govt. of Assam will be involved in inspection of the financed units and assist the bank in recovery of loans sanctioned under the scheme.
- In addition, the beneficiary is required to repay the loan within 5 years as per the terms of the bank.
The scheme’s complete guidelines and application form are available in PDF format at the following link: https://industries.assam.gov.in/sites/default/files/Sarothi_1.pdf.
Sarothi – Chief Minister Start-up Fund Scheme for Funding Startups in Assam
A Memorandum of Understanding (MoU) has been signed by the Assam government, Department of Industries and Commerce, and Assam Gramin Vikas Bank (AGVB) to provide funding for Assam’s startups. This scheme is called Chief Minister’s Start-up Fund Scheme Sarothi. The occasion where the MoU was marked was coordinated at Udyog Bhawan, Bamunimaidam, Guwahati.
মুখ্যমন্ত্ৰীৰ ষ্টাৰ্ট-আপ ফাণ্ড আঁচনি ‘সৰুথি’- অসমৰ ষ্টাৰ্টআপৰ বাবে পুঁজিৰ বাবে অসম চৰকাৰ আৰু উদ্যোগ আৰু বাণিজ্য বিভাগ আৰু অসম গ্ৰামীন বিকাশ বেংকৰ মাজত বুজাবুজিৰ চুক্তি স্বাক্ষৰিত হৈছে। বুজাবুজি চুক্তি স্বাক্ষৰিত হোৱা অনুষ্ঠানৰ আয়োজন কৰা হয় গুৱাহাটীৰ বামুণীমৈদামৰ উদ্যোগ ভৱনত।
Objective of Chief Minister Start-up Fund Scheme Sarothi
The goal of marking this MoU is to give subsidizing to new companies in Assam by giving them monetary help with the type of advances with interest grant. The entire state of Assam will be covered by the Chief Minister’s Start-up Fund Scheme “Sarothi” through Assam Gramin Vikas Bank.
Benefits of Chief Minister Sarothi Startup Loan Scheme in Assam:
- Government provides financial assistance for startup in the form of loans with interest subvention
- The loan amount will be maximum of Rs. 10.00 lakh
List of Documents for Sarothi Start Up Fund Assam Loan Scheme
Following are the documents as applicable and necessary shall be submitted along with the application:-
- Application in the prescribed format (as per Form-A).
- Two copies of Passport size photo graph (black & white).
- Entrepreneurs Memorandum Part-I (EM part-I) , Udyog Adhar, as applicable.
- Scheme /project Report of the proposed activity.
- Identity Proof ( Any of the following) – Voter Identity Card / PAN Card / Driving License / Job Card / Aadhaar Card / Identity Card.
- Address Proof (Any of following) – Electricity Bill/ Telephone Bill/ Bank Account Statement of any other bank/ Letter from reputed employer/ Letter from recognized public authority verifying the address of the customer to the satisfaction of the bank/ Ration Card / Voter Identity card.
- Trade license, if any
- Certificate of training , if any
- Certificate of OBC/SC/ST/Physically handicraft, if any
- Any other documents likely to be provided by the applicant
Interest Subsidy under Sarothi
An interest aid of 5% per annum will be given to the recipients who will take credit under the Beginning up Asset ‘Sarothi’. Under the scheme, innovative new businesses in any industry would be eligible for the benefit. However, applicants who have participated in any kind of skill development training will receive priority.
The drive sent off by the public authority to eliminate the snag and obstacle of value or asset looking by business people for supporting their business.
The scheme’s five-year implementation period begins in 2017-18.
All senior supervisors have been told to begin the most common way of welcoming application from qualified recipients. A district-level committee and the AGVB would be formed following the collection of applications, at which point eligible beneficiaries would be selected for the scheme’s loan.
Visit the official website at https://assam.gov.in/sarothi-start-assam for additional information.
ষ্টাৰ্ট-আপ ফাণ্ড ‘সৰোথি’ৰ অধীনত ঋণ লোৱা হিতাধিকাৰীসকলক বছৰি ৫% সুতৰ সাহায্য প্ৰদান কৰা হ’ব। যিকোনো খণ্ডৰ নতুন আৰু সৃষ্টিশীল ষ্টাৰ্ট-আপে এই আঁচনিৰ অধীনত এই সুবিধা লাভ কৰাৰ যোগ্যতা অৰ্জন কৰিব। কিন্তু যিসকল আবেদনকাৰীয়ে যিকোনো ধৰণৰ দক্ষতা বিকাশৰ প্ৰশিক্ষণ লৈছে তেওঁলোকক অগ্ৰাধিকাৰ দিয়া হ’ব।
উদ্যোগীসকলে নিজৰ ব্যৱসায় বৃদ্ধিৰ বাবে সন্মুখীন হোৱা ইকুইটি বা ফাণ্ডৰ বাধা আৰু বাধা আঁতৰোৱাৰ বাবে চৰকাৰে আৰম্ভ কৰা পদক্ষেপ।
আঁচনিখনৰ ৰূপায়ণ প্ৰক্ৰিয়া ২০১৭-১৮ বিত্তীয় বৰ্ষত আৰম্ভ হ’ব আৰু পাঁচ বছৰৰ বাবে বৈধ হ’ব।
সকলো সাধাৰণ পৰিচালকক যোগ্য হিতাধিকাৰীৰ পৰা আবেদন আমন্ত্ৰণ প্ৰক্ৰিয়া আৰম্ভ কৰিবলৈ নিৰ্দেশ দিয়া হৈছে। আবেদন সংগ্ৰহ কৰাৰ পিছত এজিভিবিৰ সৈতে জিলা পৰ্যায়ৰ এখন সমিতি গঠন কৰা হ’ব য’ত আঁচনিৰ অধীনত ঋণৰ বাবে যোগ্য হিতাধিকাৰী বাছনি কৰা হ’ব।
অধিক তথ্যৰ বাবে চৰকাৰী ৱেবছাইট https://assam.gov.in/sarothi-start-assam চাওক
Application Procedure of Sarothi Start up Fund Assam Loan Scheme:
1. The application must be downloaded at http://industries.assam.gov.in/sites/default/files/Sarothi_1.pdf
2. The applicant should fill out the application and send it along with the required supporting documents to the appropriate District Industries & Commerce Centre (DICC) General Manager.
References & Details:
1. Visit: to learn more about the Assam Chief Minister Sarothi Startup Loan Scheme.
2. www.industries.assam.gov.in Visit: to learn more about the Assam Chief Minister Sarothi Startup Loan Scheme. http://industries.assam.gov.in/sites/default/files/Sarothi_1.pdf