Gujarat Sarkar Small Scale Self-Employment Oriented Business Vehicle Loan Scheme 2022
Scheme Form | Loan Assistance Standards | Small Scale Self-employment Oriented Business Vehicle Loan Scheme 2022.Small Scale Self-employment Oriented Business Vehicle Loan Scheme 2022 Full Details Given Below Post.
Gujarat Sarkar Small Scale Self-Employment Oriented Business Vehicle Loan Scheme 2022
Small Scale Self-employment Oriented Business Vehicle Loan Scheme 2022
  • Onroad unit cost for self-employed vehicles like rickshaws, loading rickshaws, Maruti Ecos, jeep-taxis etc.
  • Up to Rs.10.00 lakh for any self-employed business like business or grocery store, medical store, readymade garment store, bookstore etc. or the actual expenses, whichever is less, will be provided by the corporation on loan.
  • Transport, logistics, travelers, food courts, etc. will be eligible for 3% interest subsidy on a loan of Rs.
Lending criteria for self-employment schemes 2022
  • The applicant must have a valid license in the vehicle loan scheme.
  • The vehicle obtained will have to be mortgaged (hypothecation) towards the corporation.
  • The loan has to be repaid in equal monthly installments of five years after three months of receipt of the vehicle.
  • The small business will have to start within three months of getting the loan and after three months after starting the business the loan will be recovered in the same monthly installment of five years.
  • For a loan amounting to a total of Rs.2.50 lakh or less, the beneficiary will have to incur a burden on his or her relative’s property worth one and a half times the loan amount.
  • If the total loan amount is more than Rs. 3.50 lakh, the total amount will have to be mortgaged in favor of one’s own or any other relative’s real estate corporation.
  • Each borrower will have to provide five post dated checks signed in favor of the corporation.
All self-employment schemes will also have the following qualifications.
  • Applicant should be a native of Gujarat and belong to non-reserved category.
  • The age of the applicant should be between 18 years to 30 years.
  • The interest rate on the loan will be 5% per annum for simple interest and 3% for women.
  • The same amount will be lent per year. Simple interest will be considered accordingly.
  • Interest rate : The interest rate on the loan will be 5% per annum for simple interest and 5% for women.
Income limit : 
Annual income limit of the family is Rs. 4.00 lakhs or less.

How to Apply Business Vehicle Loan Scheme ?
Availing government loans for small scale businesses will not cause you much sweat. Since most government loans are dispensed through banks and financial institutions, you can directly approach them to avail loans. You can visit the nearest branch of the bank or financial institution who will guide you on the loan application process.

Some lenders will also allow you to apply for business loans online on their respective websites. You can visit their websites, fill up the application form provided, upload the relevant documents, and submit it. Once you complete the process and the verification is done from the bank’s end, the loan amount will be credited directly into the bank account you provided during the application process.

Important Links

Important Date
Application Last Date Before Apply 28/02/2022

Government Subsidy Loan for Business
The small-scale business sector, which is more popularly known as the Small and Medium Enterprises (SME) sector, is responsible for contributing around 40% to the total Gross Domestic Product (GDP) of India. This sector is a key source of employment in India but faces stiff competition from privately-funded businesses. Realising this, the Government of India has come forward to offer many loan schemes to finance the small-scale business sector. These loans can be availed by the SMEs to fund their day-to-day operations, expand their business, purchase new equipment, etc.