The State-owned Kerala Financial Corporation (KFC) has announced a new scheme to assist MSME units located on industrial estates.
Under the ‘Support MSMEs’ meant for manufacturing and service industries, loans will be issued for setting up new units, or modernise or expand existing ones. KFC will provide term and long-term loans and working capital loans.
It will also provide guarantees for MSME units. The upper limit of loans is ₹20 crore for companies. For partnership firms and proprietary concerns the upper limit is ₹8 crore. The upper limit for the guarantees is ₹50 crore.
Existing units are eligible for loans up to 90% of their modernisation/ expansion project cost under the modernisation scheme.
The applicants should apply online at www.kfc.org.
“The scheme is tailor-made to help the industries to get hazzle-free credit facilities. The KFC will set apart a ₹500-crore pool for the scheme,” KFC chairman and managing director Sanjay Kaul added.
