THIRUVANANTHAPURAM: The Kerala State Industrial Development Corporation (KSIDC) has sanctioned a loan of Rs 101 crore under the Chief Minister’s Special Assistance Scheme (CMSAS). A total of 64 entrepreneurs benefited from the scheme launched for MSMEs/Startups/Micro Enterprises & NRKS. The scheme aims to start 1,500 MSMEs in five years. At least 200 loans will be sanctioned per year.
The loan amount will range between Rs 25 lakh and Rs 2 crore. Eighty per cent of the project cost will be given as a loan. The interest rate is 5.50 per cent. There will be an interest subvention of 0.50 per cent for prompt repayment.
Applicants should be aged between 18 and 60. Five-year relaxation will be given to women, people belonging to SC, ST categories and NRKs. More details are available on the KSIDC website.