Scheme Name: "SAROTHI" The Start-up Assam

State: Assam

Description of the Scheme: Provide financial assistance in the form of loan with interest subvention through a designated bank. The loan so availed by the beneficiaries will be supported by the State Govt. through Interest Subvention at 5% P.A.

Target group : Individual, Startups, Enterprises- SHGs, Cooperatives, Companies

Sector of the Scheme: Startups

Eligibility Criteria:

• All innovative startup industrial activities and the new individual applicant will be eligible to get the benefit under Sarothi scheme
• New Micro, Small and Medium Enterprises (MSME) units in Assam are eligible for these benefits
• Priority will be given to an applicant if he or she undergoes any skill development training
• If the applicant is a defaulter of any Bank or Financial Institution, he or she will not be eligible for benefits under Sarothi scheme

Nature & Mode of Assistance: 1. Loan amount shall be maximum of Rs. 10 lakh.
2. Equity/Promoter's margin shall be 15% of the project cost.
3. Eligible for interest subvention on credit up to Rs.10 lakhs.

"Financial Information (Subsidy, low interest rate, etc.)":

• Under Sarothi Start-up Loan Scheme, Government provides Rs.10 lakh with 5% interest subvention to all eligible entrepreneurs
• The concerned bank authority will debit interest subsidy at 5% after the completion of every quarter in a year
• The entrepreneur will have to provide 15% of the total money required for setting up the entire project, and the bank will finance the rest of the amount through a loan

"Other Assistance (Procurement of machinery, Technology /Marketing, International Cooperation, etc.)":

How to apply: 1. Application shall be submitted to the concerned General Manager, District Industries & Commerce Centre (DICC) in prescribed form along with the supporting documents.
2. DICC shall finalise AGVB branch-wise/district-wise target for the financial year and communicate it to the AGVB HO and get it accepted by the Bank before starting the process of selection of beneficiaries.
3. On receipt of the application by DICC, from the applicants, it shall be scrutinised by the officials of DICC and placed before the District Level Committee (DLC) constituted for approval.
https://easeofdoingbusinessinassam.in/How%20to%20fill%2 0Common%20Application%20Form.pdf

Whom to Contact: Chief Administrative Office Single Window Agency Udyog Bhawan, Maniram Dewan Road, Bamunimaidam, Guwahati, Assam 781021