Central GovernmentVerified

Prime Small Enterprise Empowerment and Development(SEED) Scheme

Under the scheme provides financial support for setting up or expanding small business ventures. It primarily targets the unorganized sector and underserved business activities that contribute significantly to the local economy but have historically lacked institutional support.

Last verifiedToday

Official Source ↗

About This Scheme

The SEED Prime – Small Enterprise Empowerment and Development (SEED) Scheme, under the Chief Minister’s ELEVATE Program and implemented by the Planning Department, Government of Meghalaya, aims to empower youth and promote inclusive entrepreneurship across the state. The scheme provides financial support for setting up or expanding small business ventures. It primarily targets the unorganized sector and underserved business activities that contribute significantly to the local economy but have historically lacked institutional support.

Benefits

₹50.0K

1. 50% of total project cost supported as upfront subsidy by Government of Meghalaya (₹50,000 max)

1. 5% of total project cost to be contributed by entrepreneur as own share

1. Remaining 45% of project cost eligible for bank loan

1. Loan tenure of 2 years with a 3-month moratorium period before EMI begins

1. Financial support strictly for asset creation (machinery, equipment), operational or working capital expenses not allowed

1. Opportunity to access scheme through single online portal under CM-ELEVATE initiative

1. Cash Credit loan option available for eligible beneficiaries

1. Support to entrepreneurs from unorganized and underserved sectors with emphasis on creating local employment

Eligibility

Note: You may be eligible based on the information shown. Please verify the official eligibility requirements before applying.

Required Documents

✦
Latest Bank Statement (Last 6 months)
✦
Proof of Identity of Applicant (Voter ID / Passport / Driving License)
✦
Self Declaration
✦
Certification or testimonial from Village Headman or experience proof for existing operators (registration, photos, testimonials, etc.)
✦
PAN Card
✦
Ration Card of Applicant
✦
Quotation for equipment to be purchased (must include vendor GST number)
✦
Proof of Identity of Applicant (Voter ID / Passport / Driving License) - President & Secretary
✦
Latest Bank Statement (Last 6 months)
✦
Self Declaration
✦
Certification or testimonial from Village Headman or experience proof for existing operators (registration, photos, testimonials, etc.)
✦
PAN Card
✦
Ration Card of Applicant
✦
Quotation for equipment to be purchased (must include vendor GST number)

✦ Required ◦ Optional

How to Apply

OOnline

PDS (Ration Card) Election Photo ID Card (EPIC).

Quick Info

Level: Central Government
Max benefit: ₹50.0K