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The state-run, non-banking financial company, Kerala Financial Corporation (KFC), has introduced a loan scheme whereby loans up to Rs 10 crore will be available under an annual interest rate of 5%.
Under the scheme, Industrial units that have MSME registration from across agro, dairy, and animal husbandry-related industries; agro-based start-ups; units engaged in processing, marketing and trading of agro-based products; warehouses and godowns; cold storages; and other agri-infrastructure projects.
While the Government of Kerala will provide a 3% subsidy, KFC will provide a further subsidy of 2%. KFC is looking to target 2500 enterprises in five years and will set aside Rs 300 crore every year for the same.
The repayment period will be for a period of up to 10 years, however, the interest subsidy will be available for the first five yeast alone.
