Swavalambana Margin Money Loan Scheme for Muslims and Christians majorly by Karnataka government as of 2015

Under this scheme, persons belonging to Minority communities in association with and through financial institution,are financially assisted to start and improve Business, Small Scale Cottage Industries, Service sector, Agriculture based activities etc.,. Loan is provided through various Nationalized Banks/Financial Institutions / co-operative societies for the maximum project cost up to Rs.5,00,000/-. 20% of the project cost will be sanctioned by the Corporation as Margin Money loan @ 6% interest p.a and 50% of unit cost or maximum of Rs.5,000/- as subsidy Balance is provided as loan by the Banks/Financial institutions / co-operative societies.

The details about the financial assistance is as below:
SlNo.Unit CostMMLoan from KMDCSubsidy from KMDCBeneficiary ContributionBank, KSFC, Co-op Societies Loan Portion
1.Upto Rs.25,000/-Nil50% of unit cost, Max Rs.5000/-Nil50% of unit cost, maximum Rs.20000/-
2.Rs.25,001/- upto Rs.50,000/-20% of unit cost, Max Rs.10,000/-Maximum Rs.5,000/-5% of unit cost, maximum Rs.2500/-Balance amount Max Rs.32,500/-
3.Rs.50,001/- upto Rs.1,00,000/-Rs.10000/- upto Rs.20,000/-Maximum Rs.5,000/-5% of unit cost, Max Rs.5000/-Balance amount, Max upto 70,000/-
4.Upto Rs.5,00,000/-20% of Unit Cost Max Rs.1,00,000/--5% of unit cost, Max Rs.25,000/-Balance amount, Max upto 3,75,000/-

The Margin Money so sanctioned by the Corporation has to be repaid by the beneficiary in 36/60 monthly instalment @ 6% interest P.A to the Corporation.
This scheme is implemented through Co-Operative Societies also who have registered under Co-Operative Societies Act 1959, and who are working for the upliftment for the minorities and are showing profit and have adequate financial support to grant loan to its members. The Societies who desire to avail this facility should present the following documents:
  • Registration Certificate of the Society.
  • Bye Laws of the Society.
  • Details of provisions made to get money from the State Govt.
  • Audited Report for the last 3 years.
  • Report of the Dy. registrar of Co-Operative Societies with no adverse remarks.
  • Contract deed, Guarantee letter.

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