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Loan: You have some unique ideas. There is also the power to put those ideas on the ground. For this one can go to the extent of obsession. There is also a desire to transform them from job seeker to job giver by converting it into a financial model. Then what are you waiting for? Such people are needed to run a startup. So get started. Make a business plan and get involved in it with full force.
Money problems may arise
No…no…you may face a problem. That problem is of money. After all, who will invest in your startup? You don’t have any prior experience running a business. Therefore no one will want to invest money in your startup. It is possible that you may not have any credit history, so banks or other financial institutions will also be hesitant. Now the matter remains about angel investors. That is, of such philanthropists who invest money in the startups of youth only for the purpose of helping them without considering profit or loss. You may not even get angel investors. Still, you do not need to panic, because the government itself will come as angel investors for you. There are many loan schemes which are very beneficial for starting a startup. You just need to know properly about those government loan schemes.
What are the loan schemes through which startups can run?
Pradhan Mantri Mudra Yojana is the most beneficial among government loan schemes for startups. Under this, loans ranging from Rs 50 thousand to Rs 20 lakh can be obtained in four different categories. The second loan scheme is Standup India Scheme. Under this, loans ranging from Rs 10 lakh to Rs 1 crore are given to SC-ST and women entrepreneurs for greenfield i.e. new business projects. Credit Guarantee Scheme for Micro and Small Enterprises. This is a scheme of the Ministry of Small Scale Industries of the Government of India. Under this, loans up to Rs 5 crore are made available as collateral free credit. Credit Guarantee Scheme for Startups. This is a plan of the Government of India. Under this, credit guarantee up to Rs 10 crore is given.
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