MFGN

Micro-loan scheme for Rabari and Bharwad caste entrepreneurs in Gujarat. Provides up to ₹1.25 lakh loan at 5% interest with only 5% beneficiary contribution.

This microfinance scheme aims to empower small entrepreneurs from the Rabari and Bharwad castes by offering affordable loans with minimal beneficiary contribution. Designed to support income-generating activities, the scheme helps beneficiaries fund small businesses with 95% of the project cost covered by the corporation, while only 5% is required as their own contribution.

The maximum loan offered under the scheme is ₹1.25 lakh, with a subsidized interest rate of 5% per annum. The scheme is intended to improve economic participation and entrepreneurship among socially and educationally backward communities in Gujarat.

• The applicant must be a permanent resident of Gujarat.1. The applicant must be a woman or man belonging to the Rabari or Bharwad caste.1. The applicant must belong to a socially and educationally backward class as recognized by the Gujarat government.1. The applicant must be between 21 and 45 years of age.1. The applicant’s annual family income must not exceed ₹3.00 lakh.1. The applicant must be planning to start or expand a small business.

• Loan assistance up to ₹1.25 lakh for small businesses- Interest rate fixed at 5% per annum
• 95% loan coverage by the corporation- Only 5% contribution needed from the applicant- Promotes economic independence and small-scale entrepreneurship