The demand for small businesses has risen in order to propel the country’s economy forward. In this scenario, startups play a crucial role. Under Prime Minister Narendra Modi’s guidance, the Indian government has initiated several programs to encourage the development of startups. Numerous young people today aspire to launch startups, however, lack of capital poses a major obstacle for them.
Seed funding for startups can be easily acquired from the Central Government scheme in such a scenario. A man named Preetesh Lakhani, who is a businessman, has shared extensive details about this on the social media site X. In his post, he has outlined the process through which he secured a government loan for his new business venture. He was granted a loan of Rs 30 lakh with a 5 percent annual interest rate. In other words, he obtained the loan with an interest rate of under 0.5% per month. Startup India is the primary initiative for creating jobs for young people. Startups can receive a maximum of Rs 50 lakh in initial funding from the government, allowing young entrepreneurs to kickstart their businesses.
I have put up a detailed thread of how we got this loan from GOI at 5%
Its only meant for DPIIT approved startups. I have also put the website links for easy navigation.
Retweet for max reach to all upcoming startups. https://t.co/0zumWN5054
— Pritesh Lakhani (@priteshlakhani) November 28, 2024
https://platform.twitter.com/widgets.js
In the Startup India program, the government provides seed funding as initial capital. A loan of a maximum of Rs 50 lakh can be obtained. The loan can be obtained with an annual interest rate of only 5 percent. This implies that you pay Rs 2.5 lakh as interest in a year on a loan of Rs 50 lakh. To obtain seed funding, startups need to be certified by DPIIT. Go to the Startup India website and sign up. Complete the application form and turn it in.
