Let’s look at a loan that is suitable for people with minority section. KSMDFC( Kerala State Minorities Development Finance Corporation) is a loan scheme which gives minority peoples up to Rs 20 lakh as interest at 5%. It was incorporated on 14 February 2013.
The main aim of this scheme is promoting economic activities amongst the minority peoples such as Muslims, Christians, sikhs,Persia, Buddhist. It providing concessions finance to minority communities .Under this scheme Rs 20 lakh are considered for financing. Particularly for Muslims, they can take loans at 5 % interest on the rights of minority group. It give financial support to the growth of minority peoples . Manufacturing, trading, service, agriculture are four sectors that are covered.
The loan is available for up to Rs 20 lakh. Applicants for other non- residents loans/ other subsidized loans can avail loans from this corporation. Of course you can take out a loan at 5 % interest. KSMDFC has a regional office for four districts. Find out where your district’s KSMDFC office is located. There is the application should be submitted.
Documents
- Aadhar card copy
- PAN card copy
- Business project report .
- Passport size photo
- 6 month bank statement copy
- A report showing the business’s feasibility .
Fill the application form. The committee will convened and give you up to Rs 20 lakhs depending on your company’s feasibility.