Does the Indian government give a loan for a small business?

Yes obviously. You can apply for Government Loans for Small Scale Businesses. There are many public sector banks which work in tandem with various government organisations to provide loans under government-aided schemes. Some of the prominent names are State Bank of India, Andhra Bank and Bank of Baroda, among others.

Loans Facilities available for Small Businesses:

There are many different facilities as per which loans are available to small scale businesses and their entrepreneurs. Some of them are as follows:

  1. Working Capital Finance – Can be availed through direct funding or a letter of credit. This kind of financing can help aid in the operating expenses of a business and it can also help in purchasing assets related to small scale businesses.
  2. Corporate Term Loans – Applied and used for starting new ventures, in the running of existing business or for expansion in any particular market.
  3. Term Finance – Term Loans are helpful in purchasing fixed assets like buildings, machinery and the like. With floating interest rates, these loans generally have a repayment period that could go up to 10 years.

The following banks have a variety of schemes under which operating finance is provided to small businesses:

  1. State Bank of India
  2. Bank of Baroda
  3. Andhra Bank

Source credit: Bankbazaar

Loan Schemes and Facilities initiated by the Government of India:

  1. Apart from banks which provide financial support to small business through special loan schemes, the government of India has also set up schemes and makes use of different associations in order to zero in on businesses which might require financial support. Most of the schemes initiated by the government are implemented through the following organisations:
  2. Small Industries Development Organisation (SIDO)
  3. National Small Industries Corporation Limited (NSIC)
  4. Small Industries Development Bank of India (SIDBI)
  5. National Bank for Agriculture and Rural Development (NABARD)
  6. World Association for Small and Medium Enterprises (WASME)

Hope this will help you to get better understand about govt loans for small scale business in India. If you need more information you can whatsapp ; +91–9674616588

Thanks & best regards,

Amiya Sarkar

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