HASSLE FREE GOVT SUBSIDISED LOAN SCHEME FOR UNEMPLOYED YOUTH(JKEDI)

Entrepreneur Development Institute JKEDI under the supervision of J&k government launched various schemes to encourage entrepreneurship in the state.

Seed Capital Fund Scheme(JKEDI)

Un-employment rate in Jammu and Kashmir is highest as compared to rest of India. As Jammu Kashmir is already facing burnt of turmoil which results in negligible investments in business by big corporate houses which leads to an increase in unemployment in the state. 

In order to resolve the issue of unemployment in Jammu and Kashmir state, Entrepreneur Development Institute (JKEDI)under the supervision of Jammu Kashmir government launched various schemes to encourage entrepreneurship development in the state. As most of the financial institutions are resistant to finance new projects of budding entrepreneurs in view of their risk perception which has a negative implication on the growth and development of entrepreneurship. In order to support new generation entrepreneurs, JKEDI announced “Seed Capital Fund “Scheme.

QUANTUM OF LOAN

QUALIFIATION	LOAN AMOUNT
UNDER GRADUATE	04:00LAC
GRADUATE	05:00LAC
MAX LOAN 35% OF PROJECT COST
POST GRADUATE	06:50LAC
PROFESSIONAL/TECHNICAL GRADUATES	10:00LAC

NOTE:

3% of budget allocation shall be reserved for Differently / Specially abled persons. In case, the required number of candidates does not come forward under this category to avail the benefits of the Scheme, then the funds can be utilized for General Category

ELIGIBILITY CRITERIA:

AGE:

Minimum: 18 years.

Maximum: 40 years.

For differently/specially abled persons ( 18 – 42 years.)

Qualification: min 10+2.

Status of employment: Un-Employed.

Income Ceilings: not applicable.

Candidate must be registered with concerned employment exchange.

NOTE:

No institution, corporate body, society or an NGO or any existing unit which has already availed any type of government subsidy shall be eligible for assistance under the scheme