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Sunday, October 16, 2011

Kerala Self Entrepreneurship Development Mission: Interest Free Loan Project to Commence on November 2011

Trivandrum, October 16, 2011: Kerala Self Entrepreneurship Development Mission, a project designed by KFC [Kerala Finance corporation] will commence on November 2011.

The main feature of the project is availing interest-free loan up to Rs 20 lakh for a group of 5 members to start a new business venture.

If all the 5 members of the group are professional degree holders, then the loan amount may go up to Rs 50 lakh.

The chief attraction of this loan is that there is no reimbursement in the first year. The amount should be returned in small units in the next 4 years time. Those who return the amount aptly may get a 1% subsidy too.

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