Kerala to offer loans up to Rs 10cr at 5% interest to Agro-based MSMEs & Start-ups

To provide credit facilities to Agro-based industries, the Kerala Financial Corporation (KFC) has launched a new scheme offering loans up to Rs 10 crore at an interest rate of 5 percent.

Every year the corporation aims to benefit a minimum of 400 micro, small and medium enterprises (MSMEs). MSME units from Agro, Dairy & Animal Husbandry related industries, Agro-based-Startups, processing/ marketing/ trading of Agro-based products, food processing units, warehouses, go-downs, cold storage, Agri-infrastructure projects, etc, are eligible to apply for the loan.

Finance Minister K Balagopal declared the scheme while presenting the State Budget 2022-23

The scheme covers all the financial requirements of the units including setting up of new units, modernization/ expansion/ renovation of existing units, purchase of machinery, working capital needs, etc.

Read more at Knowledge & News Network (KNN)