In an effort to boost self-employment and entrepreneurship across India, the government is offering a ₹10 lakh loan without any collateral, complete with step-by-step business guidance, ready-made project reports, and up to 35% subsidy under various MSME support schemes.
Whether you’re a student, homemaker, unemployed youth, or aspiring entrepreneur, this is your chance to start your own business with government-backed support — from candle making to EV charging stations, and everything in between.
🚀 What Is the Government’s ₹10 Lakh Collateral-Free Loan Scheme?
This initiative is part of government programs like the PMEGP (Prime Minister’s Employment Generation Programme) and schemes run through the Khadi and Village Industries Commission (KVIC) and MSME Ministry.
The scheme allows eligible citizens to apply for loans up to ₹10 lakh for launching small-scale or micro-enterprises, with no requirement for collateral. It also includes:
- Up to 35% subsidy (varies by category and region)
- Pre-approved business models with downloadable project reports
- Support from banks and government departments during the setup
🧾 Key Features of the Scheme
| Feature | Details |
|---|---|
| Loan Amount | Up to ₹10,00,000 |
| Collateral Required | ❌ None |
| Subsidy | Up to 35% (based on location & category) |
| Business Plans | 400+ Ready-made project reports |
| Eligibility | Indian citizen, age 18+, minimum 8th pass |
| Application Mode | Online via kviconline.gov.in |
📚 What Kind of Businesses Can You Start?
The KVIC portal provides detailed project reports for over 400+ business ideas. These include:
🔹 Manufacturing Ideas:
- Candle Making
- Paper Bag Manufacturing
- Detergent Powder Production
- Food Processing Units
- Agarbatti (Incense Stick) Making
🔹 Service-Based Ideas:
- EV Charging Station
- Mobile Repair Shops
- Digital Printing & DTP Centers
- Solar Panel Servicing
- Tailoring Units
Each report includes the investment breakdown, raw materials, income forecast, profitability, and manpower requirement.
📥 How to Apply for the Loan?
You can apply directly on the official KVIC portal. Here’s how:
🔗 Step-by-Step Guide:
- Visit the official website: https://www.kviconline.gov.in
- Click on “PMEGP e-Portal”
- Select “Apply for Individual” or “Apply for Non-Individual”
- Fill in your personal and business idea details
- Upload required documents (ID, educational certificate, photo, etc.)
- Submit and wait for bank or DIC approval
📌 Bonus Tip: Download a ready-made business plan first to include in your application.
🎯 Why This Is a Game-Changer
- Zero Collateral: No need to mortgage property or assets.
- Government Subsidy: Up to 35% of the loan may be waived.
- Ease of Planning: Ready-to-use reports save you time and effort.
- Wide Business Options: Choose what suits your skill and budget.
This is especially valuable for first-time entrepreneurs who may not have access to business mentors or resources.
🧠 Who Can Benefit?
- College Graduates and dropouts
- Women entrepreneurs
- Rural and semi-urban youth
- Existing small business owners looking to scale
🛑 Important Notes
- Only one person per family can avail the loan under PMEGP.
- Subsidy is credited only after successful project implementation.
- Applicants must not have previously availed subsidy under similar schemes.
✅ Final Words
If you’ve been waiting for the right opportunity to start your own business, this government-backed ₹10 lakh loan scheme might be your launchpad. With no collateral, a 35% subsidy, and free business guidance, it’s never been easier to take that first step.
👉 Visit kviconline.gov.in
📥 Download a project report
📤 Apply for your loan today and become your own boss!
📌 Disclaimer:
This blog is for informational purposes only. Readers are advised to visit the official website kviconline.gov.in or contact local DIC/KVIC offices for the most accurate and updated details before applying.
