Start Your Business With Rs 4 Lakhs Funding From The Government

If you are looking to start a small scale business, the government of India is here to fund your business for up to Rs 4 lakhs with its Coir Udyami Yojana. This scheme will fund the dreams of spinners, weavers, and artisans of starting a small business which produces quality products to enable exports.

What is Coir Udhyami Yojana?

It is a credit linked subsidy scheme for setting up of coir units with project cost of upto Rs.10 lakhs and one working capital cycle.

Under the CUY Scheme, Marketing Support Assistance to the beneficiaries for the following interventions will also be considered:

• For providing financial assistance for establishing Marketing Consortium of CUY beneficiaries.
• For reimbursement of expenditure incurred for participation in fairs/exhibitions
• For hiring showroom spaces
• For reimbursement of salary of personnel employed in the Consortium



Features

Maximum admissible cost of the project is 10 lakhs plus working capital, which shall not exceed 25% of the project cost.

•     Beneficiary's contribution 5% of the project cost
•     Bank credit Rate 55%
•     Rate of Subsidy 40% of the project



Who can apply?

• Individuals
• Companies
• Self Help Groups
• Non Governmental Organizations
• Institutions registered under Societies Registration Act 1860
• Production Co-operative Societies
• Joint Liability Groups and Charitable Trust



How to apply?

The applications can be collected from Coir Board Offices, District Industries Centres, Coir Project Offices, Panchayati Raj Institutions and the Nodal Agencies approved by the Board for this purpose.

The forms can also be downloaded from the Coir Board website www.coirboard.gov.in and have to be submitted directly to the Coir Board Field Offices or through the DICs.

You can apply online here and read further about the scheme guidlines here.



Documents required

The following documents shall be attached to the application while filing the application:


• Copy of Title Deed of the property on which the unit is proposed to be setup/already located.
• Proof of coir industry experience
• Proof of training availed from Coir Board
• Machineries proposed to be purchased along with invoice.
• Industrial Establishment Certificate issued by DIC
• Plan & Estimate for construction of workshed duly certified by Chartered Engineer
• Project Profile of the proposed project
• In case of SC/ST, copy of Caste Certificate
• Any other supporting documents

Source: coirboard.gov.in