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PMEGP Loan Scheme in Bihar: A Guide for Entrepreneurs



Prime Minister Employment Generation Programme (PMEGP) is a central sector scheme implemented by the Ministry of Micro, Small and Medium Enterprises (MSME) to promote entrepreneurship and generate employment opportunities. It provides financial assistance to individuals and groups for setting up micro-enterprises and small-scale industries.

Eligibility Criteria for Bihar

To be eligible for PMEGP loan in Bihar, you must meet the following criteria:

  • Indian citizen: You must be an Indian citizen.
  • Age limit: You should be between 18 and 45 years of age.
  • Education: There are no specific educational requirements.
  • Prior experience: Not mandatory, but experience in the proposed business can be an advantage.
  • Location: Your business should be located in Bihar.

Loan Amount and Interest Rate

  • Loan amount: The maximum loan amount varies depending on the type of business and location. However, it generally ranges from ₹1 lakh to ₹25 lakh.
  • Interest rate: The interest rate for PMEGP loans is concessional. It is currently 5% per annum for general category applicants and 1% per annum for SC/ST/OBC/Women/Disabled applicants.
  • Moratorium period: A moratorium period of up to two years may be granted for the repayment of principal.


Subsidy and Margin Money

  • Subsidy: The government provides a subsidy of up to 25% of the project cost for general category applicants and up to 35% for SC/ST/OBC/Women/Disabled applicants.
  • Margin money: Applicants are required to contribute a margin money of 10% of the project cost.

Benefits of PMEGP Loan in Bihar

  • Financial assistance: PMEGP provides affordable loans to help entrepreneurs start and grow their businesses.
  • Subsidy: The government subsidy reduces the financial burden on entrepreneurs.
  • Concessional interest rate: The low-interest rate makes it easier for borrowers to repay the loan.
  • Employment generation: PMEGP promotes entrepreneurship and creates employment opportunities.
  • Skill development: The scheme may also provide training and skill development programs to entrepreneurs.

How to Apply for PMEGP Loan in Bihar

To apply for PMEGP loan in Bihar, you can follow these steps:

  1. Contact a nodal agency: Identify the nodal agency in your district that is responsible for implementing the PMEGP scheme.
  2. Submit application: Fill out the application form and submit it to the nodal agency along with the required documents.
  3. Evaluation: The nodal agency will evaluate your application and project proposal.
  4. Sanction and disbursement: If your application is approved, the loan will be sanctioned and disbursed to you.

Note: The specific procedures and requirements may vary slightly depending on the nodal agency and location. It is advisable to contact the nodal agency directly for the most accurate information.

By taking advantage of the PMEGP loan scheme, entrepreneurs in Bihar can realize their dreams of starting their own businesses and contributing to the economic development of the state.

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Location: Bihar, India

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