The Government of India has started the PMFME Loan scheme. This is to help more small business owners in the food processing area. The full name of the scheme is Pradhan Mantri Formalisation of Micro Food Processing Enterprises. Through this scheme, the Government of India will give money and discounts to micro-entrepreneurs in the food processing industry. This support will help them to grow their businesses.
If you want to apply for the PMFME scheme, it’s very easy! You can go to the official website and fill out the application form online. The official website for the PMFME scheme is pmfme.mofpi.gov.in. Just visit the site and follow the instructions to apply.
About PMFME Loan Yojana
To boost the food processing industry in India, the Government of India started a scheme called the Pradhan Mantri Formalisation of Micro Food Processing Enterprises. This scheme has a big budget of INR 10,000 crore for 5 years! That’s a lot of money to help our local food businesses grow.
The main aim of this scheme is to give financial help to food processing entrepreneurs. This way, they can make more local products that we all love. The best part is that the financial assistance will go straight to the bank account of the selected applicants. This means they will get the money quickly and easily.
Local entrepreneurs can use this support to build warehouses and laboratories. With better spaces and better tools, they can improve the quality of their products. This is great news for our farmers and local food makers in India!
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PMFME Loan Apply Online Objevtive
- The main aim of the loan scheme is to help local entrepreneurs grow their businesses. This loan scheme provides financial help to local entrepreneurs and creates jobs for semi-skilled workers.
- Local authorities are also giving seed capital to all Self Help Group (SHG) workers. This helps them start their own businesses without worrying about money problems.
- The scheme focuses on building the skills of entrepreneurs. It offers technical knowledge, skill training, and support services to help them succeed.
PMFME Loan Apply Online 2024 Key Highlight
| Name of the scheme | PMFME Loan |
| Launched by | Government of India |
| Objective | Provide loan |
| Beneficiaries | Citizens of India |
| Official website | PMFME website |
Eligibility Criteria
- The applicant must be a micro-entrepreneur in the food processing industry.
- The applicant must be a permanent resident of India.
- Only one person from one family is eligible for obtaining financial assistance. The “family” for this purpose would include self, spouse, and children.
- The applicant should be above 18 years of age and should possess at least VIII standard pass educational qualification,
Subsidy Loan Amount Under PMFME
- Credit-linked grants at 35% of the project cost with a maximum grant of up to Rs 10.0 lakh will be given under the scheme.
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Required Documents
- Aadhar Card
- Email ID
- Mobile Number
- Electricity bill
- PAN Card
- Passport Size Photo
- Business documents
Benefits of PMFME Loan Scheme
- The selected applicants under the loan scheme will receive alone from the Government of India.
- The applicants can start or expand their business significantly with the help of the loan scheme.
- The entrepreneurs can increase the quality of the product which will help them to attract more customers.
- By expanding their business the micro-entrepreneurship will create employment opportunities for more citizens of India.
- The maximum amount of Grand under the scheme is INR 10 lakh that will be given to the selected applicants.
Selection Process
- The applicant will be selected based on their clearance of eligibility criteria.
- Only entrepreneurs who are in the field of food processing are eligible to be selected for the scheme.
- The applicants must want to expand their business to be selected under the PMFME Loan scheme.
- The state would recommend applicants to the PMFME Loan authorities to provide financial systems.
PMFME Loan Yojana Apply Online at pmfme.mofpi.gov.in
STEP 1: All the applicants who clear the eligibility criteria must visit the official PMFME website to fill out the application form for the PMFME Loan scheme.
STEP 2: Once the applicant reaches the homepage of the official website the applicant must click on the option New user register.
STEP 3: A new page will appear on your desktop screen the applicant must enter all the details including Name, Mobile No., Email ID, Address, etc.
STEP 4: After registration, a password generation link will come on your registered Email ID with User ID and DRP contact details.
STEP 5: Now the applicant must go to the official website and login using their user ID and password.
STEP 6: Now the Detailed Project Report (DPR) will appear on your desktop screen the applicant must fill it out and attach all the necessary documents.
STEP 7: The applicant must enter the Applicant Details, Proposed business details, Proposed financial details, and Lending bank and upload all the details.
STEP 8: After entering all the details the applicant must quickly review it and click on the option submit to complete their process.
Contact Details
- support-pmfme[at]mofpi[dot]gov.in
FAQs
What is the official website to apply for the PMFME Loan scheme?
The official website to apply for the PMFME Loan scheme is pmfme.mofpi.gov.in.
What are the benefits to be given to the selected applicants under the PMFME Loan scheme?
The selected applicants under the PMFME Loan scheme will receive financial assistance from the Government of India to expand their business.
What kind of details the applicant must enter on the Detailed Project Report (DPR)?
The applicant must enter Applicant Details, Proposed business details, Proposed financial details, and Lending bank details on the Detailed Project Report (DPR).