Youth start-up loan scheme | JKEDI loans

yoth start up loan scheme by jkedi application process, eligibility, documents required, rate of interest, security, guarantee and margin.

JKEDI Youth Startup Loan Scheme

Jammu & Kashmir Entrepreneurship Development Institute is a government organization established in March 1997. The aim of JKEDI is to encourage and develop entrepreneurship among youth.

JKEDI provides entrepreneurship training to youth and assists them in acquiring the required finance through various schemes such as: 

• Seed Capital Fund.
• Youth Start-Up Loan
• Himayat.
• NMDFC.

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Youth startup loan schemeYouth Start-up Loan Scheme is launched by the government of Jammu and Kashmir Entrepreneurs Development Institute (JKEDI) as an additional financial support mechanism to young startup entrepreneurs. YSL scheme aims to address the problem of unemployment and to encourage entrepreneurship among the youth of Jammu and Kashmir. 

Youth Start Up Loan Eligibility                    

• Applicant should be unemployed State Subject in the age group of 18-40 years having a minimum qualification of 10+2.
• Age limit for differently / specially-abled persons is 42 years.
• This scheme is eligible for new units only.

QUANTUM OF LOAN:

Educational Qualification	Quantum
10+2	Rs. 12.00 Lac
Graduates	Rs. 15.00 Lac
Postgraduates	Rs. 18.00 Lac
Professional/technical graduates	Rs. 20.00 Lac

Rate of Interest

Rate of Interest for youth start up Loan is 6% per annum (Simple Rate of Interest)

Loan Margin

Margin is 90% project cost as loan component and 10% as beneficiary contribution.

Loan Security

Guarantee of a State Government Employee or Bank Employee with a service of at least 6 years at his/her disposal.

 Loans up to Rs. 4.00 Lac

Loans above Rs. 4.00 Lac:

Guarantee of two State Government employees or Bank with a service of at least 6 years at his/her disposal.

REPAYMENT

• Maximum Repayment Period: 05 years.
• Number of instalments: 20.
• Moratorium Period: 06 months.

DOCUMENTS REQUIRED                

•   Demand Promissory Note                              
• Irrevocable Power of Attorney                           
• Deed of Guarantee the guarantor/s should be a Government Servant or Bank Employee with at least 6 years of remaining service.
•  Deed of Hypothecation of assets created in the joint names of Jammu and Kashmir Entrepreneurship Development Institute and the State Government.                             
• Agreement  Deed.                        
• Affidavit                        
• Letter of Undertaking.

Conclusion

Youth Start Loan Scheme is a great initiative by the government to inspire youth to opt for self-employment and enter into new startups instead of running after government jobs. Such schemes inspire youth to become an employment generator instead of employment seeker.

if you are a loan seeker you personally need to visit JKEDI offices.

JKEDI Contact Details

(JKEDI) Head Office Address : 
Sempora National HighwayPampore 
Jammu: 191101 
Jammu & Kashmir, India.

JKEDI Building SIDCO Bari Brahmana Jammu.

JKEDI Phone Number

(191) 224362 224365 

JKEDI Website: www.jkedi.org