- Details
- Benefits
- Eligibility
- Exclusions
- Application Process
- Documents Required
- Frequently Asked Questions
- Sources And References
- Feedback
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Check Eligibility
Direct Loans For Business Enterprise
Karnataka
Details
- 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
- Copy of Aadhaar as residential proof
- Caste Certificate Issued by the competent authority
- Income Certificate Issued by the competent authority
- Lease deed/Partition deed/Release deed/Gift deed/Rental agreement/Sale deed of the property
- Project report/Profile of activities from CA(Chartered Accountant)
- Quotations related to the project
- License from respective authorities with respect to property proposed to be mortgaged
- Building's Khata extract and Khata certificate or land's Mutation copy.
- Phodi/Partition deed with respect to revenue lands and phani-RTC
- Encumbrance Certificate-(EC)/Form No.15
- Up-to-date tax-paid receipts from the local bodies
- Guidance value of the land from the competent authority
- No objection from the family members to pledge the title deed, with the family tree
- In the case of a building, a Valuation report by a registered valuer- Valuation Certificate
- Self-Declaration Form
- Committee Approval Order
- Affidavit from Applicant
- Joint Affidavit from the Beneficiary & the Guarantor
- Demand Promissory Note (DPN)
- Hypothecation & Mortgage Deed
- Letter of Repayment
- Letter of Guarantee
- Loan Agreement
- Consideration of Receipt
- Acknowledgment of debt from the Borrower
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.
Eligibility
- 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
Exclusions
Application Process
Documents Required
- Copy of Aadhaar as residential proof
- Caste Certificate Issued by the competent authority
- Income Certificate Issued by the competent authority
- Lease deed/Partition deed/Release deed/Gift deed/Rental agreement/Sale deed of the property
- Project report/Profile of activities from CA(Chartered Accountant)
- Quotations related to the project
- License from respective authorities with respect to property proposed to be mortgaged
- Building's Khata extract and Khata certificate or land's Mutation copy.
- Phodi/Partition deed with respect to revenue lands and phani-RTC
- Encumbrance Certificate-(EC)/Form No.15
- Up-to-date tax-paid receipts from the local bodies
- Guidance value of the land from the competent authority
- No objection from the family members to pledge the title deed, with the family tree
- In the case of a building, a Valuation report by a registered valuer- Valuation Certificate
- Self-Declaration Form
- Committee Approval Order
- Affidavit from Applicant
- Joint Affidavit from the Beneficiary & the Guarantor
- Demand Promissory Note (DPN)
- Hypothecation & Mortgage Deed
- Letter of Repayment
- Letter of Guarantee
- Loan Agreement
- Consideration of Receipt
- Acknowledgment of debt from the Borrower
- Acknowledgment of debt from the Guarantor
- Memorandum of deposit of title deeds/equitable mortgage deed
- Blood Relations Power of Attorney (if the property is not in the applicant's name)
Frequently Asked Questions
Who will get the benefits under this scheme?
People belonging to State Religious Minority Community will receive the Benefits under this scheme.
What are the benefits?
Under this scheme, a loan of Rs.20 Lakhs will be given At Low Interest Rates to persons belonging to minority communities for setting up their Businesses.
What is the rate of interest on the loan?
If The Applicant's Family Income Is Below Rs 8.00 Lakhs, It will be 4%. if the applicant's family income is between Rs 8.00 lakhs-15 lakhs, It will be 6%.
Is there a guarantee needed for getting loan under this scheme?
Loans will be provided only on a mortgage of property (building/land) to the corporation. The value of the property should not be less than the loan amount.
What is the application procedure for this scheme?
The person can request loans by applying online through link https://kmdconline.karnataka.gov.in/Portal/home and then submitting the filled applications along with documents, or they can directly walk-in to the banks to provide them assistance for getting the loans under this scheme.
What are the required documents?
Copy of Aadhaar as residential proof, Caste Certificate Issued by the competent authority, Income Certificate Issued by the competent authority, Lease deed/Partition deed/Release deed/Gift deed/Rental agreement/Sale deed of the property, Project report/Profile of activities from CA(Chartered Accountant), Quotations related to the project, License from respective authorities with respect to property proposed to be mortgaged, Building's Khata extract and Khata certificate or land's Mutation copy, Phodi/Partition deed with respect to revenue lands and phani-RTC, Encumbrance Certificate-(EC)/Form No.15, Up-to-date tax-paid receipts from the local bodies, Guidance value of the land from the competent authority, No objection from the family members to pledge the title deed with the family tree, In the case of a building, Valuation report by a registered valuer and Valuation Certificate, Self-Declaration Form
How to obtain Self-declaration form, caste certificate, and RTC?
All these documents can be obtained online. The links are as under: The link for Self-Declaration Form – https://kmdconline.karnataka.gov.in/API/ProjectFiles/DocumentTypes/Self-Declaration-Applicant1.pdf The link to get a Caste Certificate is – https://sevasindhu.karnataka.gov.in/Category/Caste%20Certificate.html The link to get RTC is – https://landrecords.karnataka.gov.in/Service2/
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Something went wrong. Please try again later.
You need to sign in before applying for schemes
Something went wrong. Please try again later.
It seems you have already initiated your application earlier.To know more please visit
Apply Now
You need to sign in before applying for schemes
Something went wrong. Please try again later.
It seems you have already initiated your application earlier.To know more please visit
Apply Now
Check Eligibility
Direct Loans For Business Enterprise
Karnataka
- 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
- Copy of Aadhaar as residential proof
- Caste Certificate Issued by the competent authority
- Income Certificate Issued by the competent authority
- Lease deed/Partition deed/Release deed/Gift deed/Rental agreement/Sale deed of the property
- Project report/Profile of activities from CA(Chartered Accountant)
- Quotations related to the project
- License from respective authorities with respect to property proposed to be mortgaged
- Building's Khata extract and Khata certificate or land's Mutation copy.
- Phodi/Partition deed with respect to revenue lands and phani-RTC
- Encumbrance Certificate-(EC)/Form No.15
- Up-to-date tax-paid receipts from the local bodies
- Guidance value of the land from the competent authority
- No objection from the family members to pledge the title deed, with the family tree
- In the case of a building, a Valuation report by a registered valuer- Valuation Certificate
- Self-Declaration Form
- Committee Approval Order
- Affidavit from Applicant
- Joint Affidavit from the Beneficiary & the Guarantor
- Demand Promissory Note (DPN)
- Hypothecation & Mortgage Deed
- Letter of Repayment
- Letter of Guarantee
- Loan Agreement
- Consideration of Receipt
- Acknowledgment of debt from the Borrower
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