Pradhan Mantri Formalization of Micro Food Processing Enterprises Scheme
Pradhan Mantri Formalization of Micro Food Processing Enterprises Scheme
This scheme is a centrally sponsored scheme that is designed to address the challenges faced by the micro enterprises and to tap the potential of groups and cooperatives in supporting the upgradation and formalization of these enterprises.
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One District One Product approach
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Upgradation of existing food processing activities and support for common infrastructure
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Credit access to micro food processing entrepreneurs, FPO, SHG and Co-operatives
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Credit linked grant @35% for the micro food processing enterprises subject to a maximum of INR 10 lakh in individual applications and INR 3.00 crores in Group Applications
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No subsidy would be provided on working capital component
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Credit linked grant for branding and marketing would be limited to 50% of the total expenditure
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Existing and New Micro Food Processing Enterprises
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Eligible Organization such as Individuals entrepreneurs, proprietorship concern, partnership firms, FPO, FPC, NGO, SHG, Co-operatives, SHG, Pvt Ltd, companies
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The individual applicant should be above 18 years of age
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No minimum educational qualification required
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Applicant is eligible for interest subvention and Top Up convergence with other GSS
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Restructuring by banks for stressed unit is allowed for upgradation/expansion
- Online application form submitted through the designated govt portal
- KYC documents
- Project Report
- Existing financial reports, if applicable
- Statutory Permission/License/ Udyam Registration Certificate etc.,
- Documents related to collateral security, if applicable
- Original quotations of machinery/equipment propose to be purchase
- Any other document as per scheme guidelines and bank assessment practices
For more details: https://pmfme.mofpi.gov.in/
