The Kerala government offers several schemes to support startups and entrepreneurs, including loans for business ventures. Two prominent schemes are the Kerala Startup Mission's Soft Loan Scheme for Women Entrepreneurs and the Kerala Enterprises Loan Scheme by Kerala Financial Corporation (KFC).
Kerala Enterprises Loan Scheme by Kerala Financial Corporation (KFC)
KFC is a state financial institution that provides loans to boost industrial growth in Kerala. The Kerala Enterprises Loan Scheme is a special loan scheme for the MSME sector in Kerala, with government support. The loans are provided for income-generating small and medium enterprises.
Kerala Startup Mission's Soft Loan Scheme for Women Entrepreneurs
Kerala Startup Mission (KSUM) supports startups by women with a soft loan scheme. The scheme allows for a loan amount limited to ₹15 lakhs as working capital. The loan has a simple interest rate of 6% and must be repaid in 1 year or when the project is completed, whichever is earlier. The scheme is available to women co-founders who have a majority stake in the startup and are registered in Kerala.
Other Government Schemes
Various departments under the Government of Kerala offer support to startups and entrepreneurs, in addition to the schemes provided by Kerala Startup Mission (KSUM).
Some of these departments include:
| Department of Agriculture |
| Department of Tourism |
| Department of Finance |
| Department of Industries |
| Department of Electronics & IT |
| Directorate of Sports & Youth Affairs |
| Energy Management Center |
| Department of Collegiate of Education |
These departments offer a range of schemes and support to startups, including:
| Innovation and Entrepreneurship Development Centers (IEDC) |
| International Exchange Program |
| Marketing Support |
| Support to Rural Innovators |
| Fund of Funds (Funding Scheme) |
| Innovation Grant |
| R&D Grant |
| Patent Reimbursement |
| Government as a Marketplace |
| Public Procurement |
| Seed Fund Assistance Scheme of KSIDC |
These schemes aim to foster innovation, entrepreneurship, and economic growth in Kerala. Entrepreneurs and startups can explore these schemes to access funding, mentorship, and other resources to help them succeed.
Application Process
To apply for loans under these schemes, you must follow the application process outlined on the respective websites. For KSUM's Soft Loan Scheme for Women Entrepreneurs, you can apply online through the KSUM website. For KFC's Kerala Enterprises Loan Scheme, you can visit one of their branch offices.
Conclusion
The Kerala government offers several schemes to support startups and entrepreneurs, including loans for business ventures. By taking advantage of these schemes, you can avail of the funding you need to start and grow your business in Kerala.
