The Punjab government has announced the Punjab Rozgar Scheme Easy Installment Loan Scheme 2023 to assist the bottom business community in the province.
The Punjab government took another progressive move. This effort is also supported by Punjab Small Industries. Young or small-scale enterprises are especially encouraged to take advantage of this opportunity.
It assists firms that are environmentally conscious or that lack the necessary resources to operate efficiently.
Also Read: Finance Department Punjab Issues Mark-Up Rate Notification for Loans and Advances (2022-23)
Lower Markup Rate Punjab Rozgar Scheme Easy Installment Loan Scheme 2023
The yearly markup rate is roughly 05% to 05%. The rate is not very high. Individuals who are liable can readily pay in small payments. The number of payments is determined by the loan amount.
The Punjab government is offering a green development loan of up to Rs.10 billion. If you own a manufacturing, trading, services, livestock, or agriculture firm, you can apply for a loan.
The Department of Industries, Trade, and Investment intends to train young entrepreneurs in business. The loans are repayable in modest installments. The person can cultivate their business.
Their company should be environmentally friendly. The loan recipients may be able to run a business.
They can use this lending program to help them financially. They can also utilize it to nurture their existing business. For all small business owners, the terms and circumstances are flexible.
Residents of Punjab must be at least 20 years old and no older than 50 years old to apply.
They can pay this sum within the first two to five years of maturity.
Business Fields /Types
The department is to provide loans for the following projects/businesses:
- Zigzag Technology in Bricks Chimneys
- Drip Irrigation in Agriculture Farming
- Solar System Tube-Wells, Petrol Pumps
- Nurseries (Forestry)
- Instructors in Hospitals and Poultry
- Bio Gas Farms
Loan Amount
| Sr.No | Amount of Loan | Maturity Period | Mark up Rate |
| 1. | 10-Lacs | 2-5 Years | 4% Annually |
| 2. | 10 Lacs up to 01-Crore | 2-5 Years | 05% Annually |
Application Procedure
Candidates who are interested can apply online. Applicants can apply online by visiting the Punjab Rozgar official website.
