How to get startup business loan without interest 2020

How to get startup business loan without interest 2020

The Center and all the state governments in the country are making this effort due to this corona epidemic, so that financial help can be reached to all sections of the country. But the government wants to make them self-sufficient besides giving them financial help. Therefore, the focus is on starting self-employment opportunities for them. Recently, the cooperative bank of Uttarakhand has launched a scheme for some such people of the state.Those who live in mountainous areas. With a view to creating self-employment opportunities for them, the cooperative banks are giving such people the facility to provide loans for the next 3 years. And its special thing is that this loan is interest free loan. Yes, no interest will have to be paid in this. Let us give you information about this scheme and its benefits in detail.

Uttrakhand Cooperative Bank Startup business loan scheme 

Most of the places in Uttarakhand state are hilly areas, they have to face many problems. In such a situation, the central and state governments come with some schemes to help the people living in such a place. But this time, the cooperative banks of Uttarakhand have come forward to help the people living in the mountainous areas. There is a district Tehri in Uttarakhand, where a cooperative bank has announced to start a self-employment model for the poor people of its district.Under this model, cooperative banks are going to give loans at no interest to them to start some selected businesses. And the period for granting this loan has been fixed for 3 years. Prior to this announcement, a meeting of all the cooperative banks of the district was held in which this proposal was given. And it has also been approved by Cooperation Minister Dhan Singh Rawat ji with the consent of the state government.

How much loan can get under this scheme

In this self-employment model, how much loan can be provided for some business. Whose information are as follows -

To open a salon: - If people residing in the hilly area start a salon business. So for this, they will be provided a loan of Rs 1 lakh from the cooperative bank of Uttarakhand. With which they will be able to supply all the necessary materials, agreements and whatever is needed to open the salon.

For beauty parlor: - If beneficiaries start beauty parlor i.e. women's parlor in the hill areas. So for this, they will be provided a loan amount of 2 lakh rupees. With this much money, they can buy all the materials and equipment used in the parlor. And this business can start.

For vegetable shops: - If a poor person is willing to open a vegetable shop, then the cooperative bank is going to give a loan of 50 thousand rupees for opening a vegetable shop with no interest.

For opening mutton, chicken and fish shop: - Also those who want to open mutton, chicken or fish shop. So for this too, the cooperative bank is going to give a loan of Rs. 1 lakh.

Loan distributions under this scheme 

In the self-employment model started by the cooperative bank of Uttarakhand, the loan amount will not be disbursed to the beneficiaries at once. Rather it will be provided to the beneficiary in installments. The details of which are -

First installment: - In this self-employment model, the beneficiary will have to make a 5-year agreement before starting his own business. The cooperative banks will provide the first installment for that.

Second installment: - Which items will be required for your business or to open a shop. A second installment will be provided for that purchase.

Third installment: - The last installment of the loan will be provided to the beneficiary before the start of their business i.e. shop.

Benefits of startup business loan 

• Due to this initiative taken by the cooperative bank of Uttarakhand, better employment opportunities are being provided to the people living in the hilly areas.
• With this, people will be able to make themselves self-sufficient. And will be able to start their own employment.
• This will end the problem of unemployment and also those who do not have the means to live their livelihood will get help.
• Due to this initiative, more and more people can join it and take advantage of it because they will not have to pay any interest for 3 years.

 Eligibility Criteria of startup business loan 

The following people can join the self-employment model started by Uttarakhand Cooperative Bank -

• Resident of Tehri District of Uttarakhand: - This model has been introduced in Tehri District located in the mountainous region of Uttarakhand. Therefore, the beneficiary must be a resident of Tehri itself. However, after some time this initiative can be implemented in other districts of the state as well. Its information has not been given at the moment.
• Poor citizens: - Only poor citizens can take advantage of this initiative of cooperative bank. Apart from this, its benefits will not be given to anyone else.
• Migrant Citizens: - Along with this, the expatriate citizens of Uttarakhand will also be eligible to avail the facility provided under this model.

Which documents are required for start up business loan

• Native certificate: - To get the loan amount under this self-employment model, the beneficiary will have to show his native certificate during the application. Applicants must keep a copy of this with them.
• Aadhaar Card: - Apart from this, it is also very important for them to have their Aadhar card for identifying the application.
• BPL Card: - Under this model, poor people living in the hilly area of ​​the district are being covered. Therefore the beneficiary may also need a copy of their BPL card. They should also keep this with them.
• Bank Passbook: To apply for a loan, the bank's passbook can also be sought to inform the beneficiary about his bank account, the beneficiary must also keep a copy of it.

How to apply for startup business loan without interest 2020

The beneficiary can apply for the loan given under the self-employment model by the cooperative bank of Uttarakhand in the following way.

Through Offline: - The beneficiaries will have to go to their local cooperative bank. And there will have to apply for a loan under the self-employment model. You will get the application form from the same bank, along with whatever other information you need, you will get everything from there, what they need to do for the loan application and what documents will be required, etc.

Through online medium: - If the beneficiary wants to apply from home through online, then for this, they have to go to the official website of their local cooperative bank, and from there they can apply for loan. They have to scan and upload all the documents sought here. And will have to be submitted.

After completion of the application, verification will be done by the bank and after that the loan amount will be provided to the beneficiary on the basis of installments.

Conclusion 

In this way, this initiative initiated by the cooperative bank for the citizens residing in the hilly region is greatly appreciated. This will encourage the people of there to self-employment. Also, they will be able to become self-sufficient to run their livelihood.

Tags: how to get loan | without interest loan 2020 | business startup loan 2020 | startup loan 2021