Commerce and Industry

Chief Minister Sarothi Startup Loan Scheme in Assam

To encourage new and young businessman in the state, the Government of Assam has launched new scheme named Chief Minister Sarothi Startup Loan Scheme for implementing an innovative business idea. The main purpose of the scheme is to provide financial assistance for startup in the form of loans with interest subvention. For the Chief Minister Start-up fund Scheme, A Memorandum of Understanding (MoU) has signed between the Assam government, Department of Industries and Commerce and Assam Gramin Vikas Bank (AGVB) for funding the startups in Assam. In this scheme, an interest subvention of 5% per annum will be provided to the beneficiaries who will take a loan under the Start-up Fund scheme ‘Sarothi’. Priority is given to the new and creative start-ups idea in any sector and the applicants who have undergone any kind of skill development training. The young entrepreneurs are facing problem to convert their ideas into reality due to lack of adequate resources in the form of equity, loan, etc. Getting a loan or financial assistance from Bank/Financial Institutions for any new venture is a major problem in the State as Banks/Financial Institutions are very reluctant to provide loan considering it as a risk for them. To solve this problem, Assam government has taken this excellent initiative by providing them Startup Loan

Benefits of Chief Minister Sarothi Startup Loan Scheme in Assam:

  • Government provides financial assistance for startup in the form of loans with interest subvention
  • The loan amount will be maximum of Rs. 10.00 lakh

Eligibility for Chief Minister Sarothi Startup Loan Scheme in Assam:

  1. New individual applicant and all innovative start-up industrial activities are eligible for this loan scheme
  2. New Micro, Small & Medium units are also eligible for this scheme
  3. Priority is given to the applicant who is having any kind of skill development training
  4. The applicant should not be a defaulter of any Bank/Financial Institution

Documents required for Chief Minister Sarothi Startup Loan Scheme in Assam:

  1. Identity proof e.g. Aadhaar card
  2. Residence proof e.g. electricity bill
  3. EM-I/Udyog Adhar No
  4. Trade License, No, and Date ( if available)
  5. Certificate of training, if any
  6. Certificate of caste or Physically handicapped, if any

Application Procedure:

  1. Applicant should download the application form by visit http://industries.assam.gov.in/sites/default/files/Sarothi_1.pdf
  2. Applicant should fill the application form and submitted to the concerned General Manager of District Industries & Commerce Centre (DICC) in prescribed form along with the supporting documents

References & Details:

  1. For more details about Chief Minister Sarothi Startup Loan Scheme in Assam visit: http://industries.assam.gov.in/
  2. For more details about Chief Minister Sarothi Startup Loan Scheme in Assam visit: http://industries.assam.gov.in/sites/default/files/Sarothi_1.pdf
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