Central GovernmentVerified
Banglashree for Micro, Small and Medium Enterprises: Interest Subsidy on Term Loan (IS)
“Interest Subsidy on Term Loan (IS)” incentives under “Banglashree for MSMEs” scheme implemented by the MSMEs Dept., Government of West Bengal, aims to provide Interest Subsidy on annual interest liability on the Term Loan borrowed from a Commercial Bank to an eligible micro or small enterprise.
Start date1 Apr 2020
Last verifiedToday
About This Scheme
The scheme “Interest Subsidy on Term Loan (IS)” is a sub-scheme under the “Banglashree for Micro, Small and Medium Enterprises” scheme. It was launched on 1st April 2020 by the Department of Micro, Small and Medium Enterprises and Textiles, Government of West Bengal, and shall remain in force till 31st March 2025. > Objectives of the "Banglashree for MSME” Scheme: The objective of the scheme is to extend fiscal incentives to encourage entrepreneurs to set up Micro, Small and Medium Enterprises with a view to focusing on the balanced development of MSMEs across the State and creating a sustainable ecosystem in the MSME sector which can maximize the utilization of resource, generate new employment and widen the area of operation to make the State emerge as the MSME leader in the country. > Objectives of the Interest Subsidy on Term Loan Scheme: Through this incentive, an eligible micro, small or medium enterprise will be entitled to Interest Subsidy on annual interest liability on the Term Loan borrowed from a Commercial Bank/ Cooperative Bank/ Scheduled Banks approved by RBI/ RRBs/ Financial Institution (Central and State) for implementation of the approved project.
Benefits
₹1.8 Cr · annual
Pattern Of Assistance: An eligible micro, small or medium enterprise will be entitled to Interest Subsidy on annual interest liability for 5 years on the Term Loan borrowed from a Commercial Bank/ Cooperative Bank/ Scheduled Banks approved by RBI/ RRBs/ Financial Institution (Central and State) for implementation of the approved project as follows:-
Micro & Small Enterprise:- Zone A & B - 55% ; Zone C, D & E– 70%.
- Zone – B, C, D & E: - 25% subject to a ceiling of ₹1,75,00,000/- per year.
Eligibility
Note: You may be eligible based on the information shown. Please verify the official eligibility requirements before applying.
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Required Documents
- ✦Copy of the Memorandum of Association and Articles of Association authenticated by the Registrar of Companies / partnership deed (wherever applicable).
- ✦A statement on the name and address of the Directors / Partners / Owners of the enterprise / Members of Cooperative or Self Help Groups, as applicable.
- ✦Copy of approved project report.
- ✦A copy of loan sanctions letter and disbursement letter issued by financial institutions / banks.
- ✦A copy of the audited balance sheet for the last 2 years wherever applicable.
- ✦A list of plants and machinery with original value along with copies of the bills, money receipts.
- ✦Existing manufacturing activities in West Bengal stating items, annual approved capacity, annual production during the last three years (in quantity and value in Rs. Lakh), if applicable.
- ✦Copy of the land deed (wherever applicable). In case of rented /leasehold land / buildings, copy of rent agreement and receipt /lease agreement.
- ✦Copy of mutation & conversion certificate of land/ building.
- ✦Copy of valid consent to operate certificate from the WBPCB.
- ✦Copies regarding SGST.
- ✦Copy of trade licence.
- ✦Copy of first electricity bill (wherever applicable)
- ✦Copy of acknowledgement of Udyog Aadhaar Registration
- ✦Copy of SC / ST certificate wherever applicable.
- ✦Copy of other statutory licenses/certificates, if necessary.
- ✦Self declaration as per [para 7.1(vi) of the Scheme](https://silpasathi.wb.gov.in/read-bytea-file-all/aWQ%3D/MTU5/NDQ%3D/ZW9kYl9zdGF0aWNfcGFnZV9wZGZfbWFuYWdl/cGRmX2NvbnRlbnQ%3D/MDFfMTU0M19tc21ldF8xODAxMV8yMjA3MjAyMF9jb21wcmVzc2VkLnBkZg%3D%3D). - A certificate from Bank/Fl as per [Annexure-II](https://silpasathi.wb.gov.in/read-bytea-file-all/aWQ%3D/MTU5/NDQ%3D/ZW9kYl9zdGF0aWNfcGFnZV9wZGZfbWFuYWdl/cGRmX2NvbnRlbnQ%3D/MDFfMTU0M19tc21ldF8xODAxMV8yMjA3MjAyMF9jb21wcmVzc2VkLnBkZg%3D%3D).
✦ Required ◦ Optional
How to Apply
OOnline
Quick Info
- Level
- Central Government
- Max benefit
- ₹1.8 Cr
- Launched
- 1 Apr 2020