Direct Loans For Business Enterprise
in Karnataka
Last updated:
Key dates and updates (Karnataka)
Nationwide and Karnataka-specific milestones. Verify on the official portal before you apply.
| Milestone | Date |
|---|---|
| Scheme launch |
Direct Loans For Business Enterprise in Karnataka
Direct Loans For Business Enterprise is a government scheme available to eligible residents of Karnataka.
Apply for Direct Loans For Business Enterprise in Karnataka
Scheme Overview
Direct Loans For Business Enterprise Scheme is implemented by Karnataka Minorities Development Corporation Limited. Under this scheme, loans will be provided to eligible entrepreneurs to start or expand their businesses by mortgaging property (building or land).
Eligibility Criteria
Applicant should be a resident of Karnataka state
Applicant should belong to the minority community
Applicant should belong to a minority community
Applicant Age should be between 18 to 55 years
Business/Enterprise loan will be given to only one member of a family
Benefits
Under this scheme, loans will be provided to eligible entrepreneurs to start or expand their businesses by mortgaging property (building or land).
If the applicant's family income is below Rs 8.00 lakhs, then the loan will be provided up to Rs 20 lakhs at a 4% interest rate.
If the applicant's family income is Rs 8.00 lakhs to 15 lakhs, then the loan will be provided up to Rs 20 lakhs at a 6% interest rate.
Required Documents
| # | Document |
|---|---|
| 1 | Copy of Aadhaar as residential proof |
| 2 | Caste Certificate Issued by the competent authority |
| 3 | Income Certificate Issued by the competent authority |
| 4 | Lease deed/Partition deed/Release deed/Gift deed/Rental agreement/Sale deed of the property |
| 5 | Project report/Profile of activities from CA(Chartered Accountant) |
| 6 | Quotations related to the project |
| 7 | License from respective authorities with respect to property proposed to be mortgaged |
| 8 | Building's Khata extract and Khata certificate or land's Mutation copy. |
| 9 | Phodi/Partition deed with respect to revenue lands and phani-RTC |
| 10 | Encumbrance Certificate-(EC)/Form No.15 |
| 11 | Up-to-date tax-paid receipts from the local bodies |
| 12 | Guidance value of the land from the competent authority |
| 13 | No objection from the family members to pledge the title deed, with the family tree |
| 14 | In the case of a building, a Valuation report by a registered valuer- Valuation Certificate |
| 15 | Self-Declaration Form |
| 16 | Committee Approval Order |
| 17 | Affidavit from Applicant |
| 18 | Joint Affidavit from the Beneficiary & the Guarantor |
| 19 | Demand Promissory Note (DPN) |
| 20 | Hypothecation & Mortgage Deed |
| 21 | Letter of Repayment |
| 22 | Letter of Guarantee |
| 23 | Loan Agreement |
| 24 | Consideration of Receipt |
| 25 | Acknowledgment of debt from the Borrower |
| 26 | Acknowledgment of debt from the Guarantor |
| 27 | Memorandum of deposit of title deeds/equitable mortgage deed |
| 28 | Blood Relations Power of Attorney (if the property is not in the applicant's name) |
How to Apply in Karnataka
The application is to be completed in two parts, first online and then offline.
Online — https://kmdconline.karnataka.gov.in/Portal/home The application is to be completed in two parts, first online and then offline.
Step 01: First go to the official website, and fill out the application form.
Online — https://kmdconline.karnataka.gov.in/Portal/home Step 01: First go to the official website, and fill out the application form.
Step 02: Print the application form.
Online — https://kmdconline.karnataka.gov.in/Portal/home Step 02: Print the application form.
Step 03: Submit this application form along with other relevant documents to the Selection Panel of your concerned district.
Online — https://kmdconline.karnataka.gov.in/Portal/home Step 03: Submit this application form along with other relevant documents to the Selection Panel of your concerned district.
Step 04: After the approval of the Selection Panel, the loan amount will be transferred to your bank account.
Online — https://kmdconline.karnataka.gov.in/Portal/home Step 04: After the approval of the Selection Panel, the loan amount will be transferred to your bank account.
Through Banks which are offering MSMEs loans under this scheme. For this, you may directly go to the bank and request for a loan under this scheme.
Offline Through Banks which are offering MSMEs loans under this scheme. For this, you may directly go to the bank and request for a loan under this scheme.
Common questions in Karnataka
Who can apply for Direct Loans For Business Enterprise in Karnataka?
Eligible residents of Karnataka who meet the scheme’s overall criteria can apply for Direct Loans For Business Enterprise. Refer to the eligibility section above for the complete checklist.
What documents are required for Direct Loans For Business Enterprise in Karnataka?
Applicants in Karnataka typically need identity proof (Aadhaar), state residency proof, bank account details, and any scheme-specific documents listed in the documents section.
What are the important dates for Direct Loans For Business Enterprise?
Key dates are summarized in the table on this page, from 1 January 2022 through 1 January 2022, based on values DeshSeva currently stores for this item.
Frequently Asked Questions
People belonging to State Religious Minority Community will receive the Benefits under this scheme.