Jagananna Thodu Provides subsidy of Rs. 10,000 for Street Vendors.
Details Of Jagananna Thodu Scheme -
Jagananna Thodu scheme is a financial assistance program launched by the Government of Andhra Pradesh in India to provide interest-free loans to small and medium-sized enterprises (SMEs). The scheme aims to support the growth of these businesses and promote self-employment opportunities in the state.
Under this Jagananna Thodu scheme, eligible beneficiaries can receive loans of up to Rs. 10 lakhs without any interest. The scheme provides a credit guarantee of up to 90% of the loan amount, and the remaining 10% is to be contributed by the beneficiary. The scheme also provides for a subsidy of Rs. 10,000 for the first year to encourage the beneficiaries to repay the loan on time.
The scheme is implemented through the Andhra Pradesh State Finance Corporation (APSFC) and the loans are provided through various nationalized banks and financial institutions.
Jagananna Thodu Scheme 2023 - Highlights
|Scheme Name||Jagananna Thodu Scheme 2023 |
|Location||State of Andhra Pradesh|
|Objective of the Scheme||Providing Loan to street vendors to earn their livelihood|
|Mode of Application||Online & Offline|
|Official Site||Click Here|
Third Phase of AP Jagananna Thodu Scheme -
The third phase of the Jagananna Thodu Scheme was launched by the Government of Andhra Pradesh in 2021. Andhra Pradesh’s chief minister, YS Jagan Mohan Reddy, announced the third instalment of the AP Scheme on 28 February 2023. This program gives interest-free loans to self-employed traders at a rate of 10%. Exciting payments have been totalling about ₹16.16 crore, or ₹526.62. This programme has helped about 510462 people.
The objective of this phase is to provide interest-free loans to micro-enterprises that have been affected by the COVID-19 pandemic. The scheme aims to provide financial assistance to micro-enterprises to help them revive their businesses and cope with the economic impact of the pandemic.
Benifits Jagananna Thodu 2023 -
Under the scheme eligible beneficiaries can avail of interest-free loans of up to Rs. 10 lakhs. This makes it easier for small and medium-sized enterprises (SMEs) to access capital and grow their businesses.
The scheme provides a credit guarantee of up to 90% of the loan amount, reducing the risk for the lending institution and making it easier for SMEs to access loans.
The scheme provides a subsidy of Rs. 10,000 for the first year to encourage timely repayment of the loan.
The scheme promotes self-employment by providing financial assistance to SMEs and startups, creating job opportunities, and contributing to the state's economic development.
5.Easy application process:
The application process for the scheme is simple and can be completed online, making it easier for eligible beneficiaries to apply for loans.
The scheme encourages entrepreneurship by providing financial assistance to startups and promoting the development of new businesses.
7.No collateral required:
The scheme does not require any collateral, making it easier for eligible beneficiaries to access loans without having to pledge any assets.
Eligibility Criteria Of Jagananna Thodu -
- The applicant must be a permanent resident of Andhra Pradesh.
- The applicant must have a registered business or startup that has been in operation for at least one year.
- The enterprise must have a turnover of less than Rs. 1 crore.
- The enterprise must be in the micro, small or medium category.
- The applicant must not be a defaulter of any nationalized bank or financial institution.
- The enterprise should not have been blacklisted by any government agency.
- The applicant should have a valid Aadhaar Card.
- The applicant should have a valid bank account in the name of the enterprise.
- Aadhaar Card of the applicant and all the partners of the enterprise.
- PAN Card of the enterprise.
- Proof of address, Voter ID card, driving license, or electricity bill.
- Proof of ownership of the enterprise, such as a registration certificate, trade license, or partnership deed.
- Bank account statement for the last six months.
- GST registration certificate (if applicable).
- Income tax returns for the last two years.
- Passport size photograph of the applicant.
- Visit the official website Click Here
- Click on the "Apply Now" button.
- Register on the portal by providing basic details such as name, mobile number, and email address.
- After registering, login to the portal using the credentials provided.
- Fill in the application form with all the required details, such as personal and enterprise information, loan amount, and repayment period.
- Upload all the required documents in the prescribed format.
- Review the application form and documents before submitting the application.
- After submission, take a printout of the application form for future reference.
Alternatively, applicants can also visit the nearest office of the Andhra Pradesh State Finance Corporation (APSFC).