State Bank of India grants financial assistance to technically qualified, trained and experienced entrepreneurs for setting up new viable industrial projects.
Loans are extended to technocrats who are unable to meet the normal margin requirements under the liberalized schemes.
Q. What are the eligibility criteria for the Entrepreneur scheme?
A.The borrower has to be a technically qualified person (a degree/diploma holder in engineering or technology), a craftsman with adequate experience or training or a person possessing a degree in business or industrial management, a chartered accountant or a cost accountant with relevant experience.
Q. What are the types of financial assistance under the Entrepreneur scheme?
A. The bank provides:
working capital and
equity fund finance
Q.What are the margins applicable?
A. For requirements up to Rs 5 lakh, no margins are involved. For needs ranging from Rs 5 lakh to Rs 20 lakh, the margin is set at 10 per cent.