Loan up to 90% of project cost: Kerala govt joins hands with KFC to support agri-based ventures

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Representative image | Photo: Mathrubhumi

Kochi: The Kerala government in corporation with its state-run non-banking financial company Kerala Financial Corporation (KFC) has rolled out a new loan scheme to support micro, small and medium enterprises (MSMEs) in agri-based ventures.

Under this scheme, the MSMEs can apply for loans up to Rs 10 crore. As per the rules, the applicants will be eligible to apply for a loan which equals 90 per cent of the total project cost. The interest rate is only 5 per cent on the back of 3 per cent and 2 per cent reductions are given by KFC and the state government, respectively.

Agri-based commercial units, dairy-animal husbandry enterprises, start-ups, agri-products processing and marketing enterprises, warehouses and those engaged in projects for developing basic amenities related to agriculture can apply for loans under this scheme.

The loans can be availed for activities like the establishment of new units, renovation, purchase of equipment and operational expenses.

KFC chairman and managing director Sanjay Kaul said that at present there is a 50 per cent off on processing fees for loans.

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