Startups Loan Tips: Seed Funding for Startups, How to get cheap loans up to Rs 50 lakh from the government?

The need for small businesses has increased to move the economy forward in the country. In such a situation, the role of startups becomes very important. Under the leadership of Prime Minister Narendra Modi, the Government of India has started many schemes to promote startups. Many youth today want to start startups, but capital is a big problem for them. In such a situation, seed funding for startups can be obtained through an easy process through the central government scheme.

A businessman named Preetesh Lakhani has posted detailed information in this regard on the social media platform X. He has told in his post how he got a loan from the government for a startup. He got a loan of Rs 30 lakh at an annual interest rate of 5 percent. That is, he got a loan at an interest rate of less than half a percent every month.

Take a loan of Rs 50 lakh at just 5% interest.

Startup India is the most special mission for the employment of youth. For startups, any young entrepreneur can get initial funding of up to Rs 50 lakh from the government. In the Startup India scheme, initial capital is given by the government as seed funding. Loans up to Rs 50 lakh are available. The loan is available at just 5% annual interest. That is, on a loan of Rs 50 lakh, you pay only Rs 2.5 lakh as interest in a year.

How do startups get seed funding?

Startups must be DPIIT certified to get seed funding. Visit the Startup India website and register. Fill out the application and submit it. It may take a few months to get the DPIIT certificate. Seed funding cannot be obtained until the DPIIT certificate is received. On receiving the DPIIT certificate, apply for a loan on the Seedfund portal of the Startup India website.