PMEGP Loan Eligibility Documents [Updated List]

The scheme is implemented by the Khadi and Village Industries Commission (KVIC), which serves as the national nodal agency.

The scheme is implemented at the state level by State KVIC Directorates, State Khadi and Village Industries Boards (KVIBs), District Industries Centres (DICs), and banks.

In such cases, KVIC routes government subsidies through designated banks for eventual disbursement directly into the bank accounts of the beneficiaries/entrepreneurs.

Read More About: How to Apply PMEGP Loan? (Step-by-Step Process)

What is Prime Minister’s Employment Generation Programme (PMEGP)?

The PMEGP scheme incorporates two previous schemes, namely the Prime Minister Rojgar Yojana (PMRY) and the Rural Employment Generation Programme (REGP), which were both aimed at creating jobs for the youth.

Under this scheme, the beneficiary is only required to invest 5-10% of the project cost, while the government provides a subsidy of 15-35 percent of the project cost based on various criteria. The remaining funds are provided to the entrepreneur as term loans by the participating banks.

What is the Objectives of the Prime Minister’s Employment Generation Programme (PMEGP)?

The objective of PMEGP is –

What is the Scope of  Prime Minister’s Employment Generation Programme (PMEGP)?

The scheme applies to all viable (technically and economically) projects in rural and urban areas that fall under the microenterprise sector.

 Prime Minister’s Employment Generation Programme (PMEGP) Loan Eligibility

Individuals and other organizations that meet the specified criteria for such a term loan are eligible for the PMEGP loan. The following are the eligible entities that can apply for loans under the PMEGP:

There are no income restrictions for loans under the PMEGP scheme. Loans are only available to new units and are not available to exist units established through PMRY, REGP, or any other government scheme.

Furthermore, any unit that has received a subsidy under another scheme is ineligible for the PMEGP loan.

 Prime Minister’s Employment Generation Programme (PMEGP) Loan Documents

Loans under the PMEGP Scheme require the submission of certain documents. When applying for a PMEGP loan, the following documents are required:

  • Completed application form with passport-sized photos

  • Report on the Project

  • Proofs of Identity and Address for the Applicant

  • PAN card, Aadhaar card, and VIII Pass certificate of the applicant

  • If a special category certificate is required, it must be obtained.

  • Training for the Entrepreneur Development Programme (EDP) Certificate

  • SC/ST/OBC/Minority/Ex-Servicemen/PHC Certificate

  • If applicable, a certificate of completion for academic and technical courses.

  •  Any other documentation that the bank or NBFC requires

How Can I Get a Business Loan Through the PMEGP Scheme ?(Online)

The following are the steps for an individual to apply for PMEGP Online:

How to Apply for Loans Through the PMEGP Scheme?(Offline)

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