The need for small businesses has increased to advance the economy in the country. In such a situation, the role of startups becomes very important. Under the leadership of Prime Minister Narendra Modi, the Government of India has started many schemes to promote startups. Many of today’s youth want to start startups but they face a big problem in getting capital. In such a situation, seed funding can be obtained for startups through an easy process through the Central Government scheme.
A businessman named Pritesh Lakhani has posted detailed information in this regard on social media platform X. He has told in his post how he got a loan from the government for his startup. He got a loan of Rs 30 lakh at an annual interest rate of 5 percent. That means, every month the loan was available at an interest rate of less than half percent.
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
Take a loan of Rs 50 lakh at just 5% interest
Startup India is the most special mission for employment of youth. For startups, any young entrepreneur can get initial funding of up to Rs 50 lakh from the government. Under Startup India Scheme, initial capital is provided in the form of seed funding from the government. Loan up to Rs 50 lakh is available. The loan is available at only 5 percent annual interest. That means, on a loan of Rs 50 lakh, you pay only Rs 2.5 lakh interest in a year.
How to get seed funding for startups?
For startups to get seed funding, it is necessary for them to be DPIIT certified. Go to Startup India website and register. Fill the application and submit it. It may take a few months to get the DPIIT certificate. Unless DPIIT certificate is obtained, seed funding cannot be obtained. After receiving the DPIIT certificate, apply for a loan on the Seedfund portal of the Startup India website.