To finance a new enterprise in manufacturing/services sector by entrepreneurs of age less than 45 years. The activities under this scheme include: community, social & personal service, food products, textiles, micro units, engineering like electronic, e-commerce, GSM/ GPRS based technology, IT & allied services, biotechnology like microbial, plant, medical genetics and diagnostics, health care and life sciences, tourism, handlooms, handicrafts and artisan products, beauty spas, boutique, fitness centre, kindergarten/preschool, formal school, crèches, tuition centres, media & entertainment, agriculture, e.g. pisciculture (fishery), apiculture (beekeeping), poultry, livestock, dairy, agri-clinics & agribusiness centers, aggregation agro industries, food & agro processing and services supporting these.

Preference will be given to applicants who are recommended by recognized Incubators like Shri Mata Vaishno Devi University Technology Business Incubation Center Society (SMVDU TBIC), Centre for Trainings & Skill Development (CTSD) and Centre for Incubation & Business Acceleration (CIBA) of Jammu & Kashmir Entrepreneurship Development Institute (JKEDI)/ training institutions like ITIs.

Composite Loan to cover 100% of project cost.

Individuals between 21 - 45 years of age.

Non-individual enterprises wherein at least 51% of the shareholding and controlling stake is held by one entrepreneur.

Finance available for Green Field Projects only.

Minimum: 2 Lac.

Maximum:  10 Lac including the interest capitalized during implementation period.

Credit facility would include both working capital by way of Cash Credit and term loan requirements of the project. Working capital will be released after completion of the implementation period.

Working capital limit of the enterprise can be enhanced after one year of start of commercial operations depending upon the increase in scale of the activity with enterprise employing at least one worker.

Maximum 2 years from the date of disbursement including implementation period of one year.

The implementation period of the project shall depend upon the actual time required to start commercial operations subject to the maximum period of one year from date of disbursement. The unit may be provided moratorium period upto the maximum period of one year after implementation period of one year depending upon the cash flows of the unit.

Primary: Hypothecation of all assets financed by the bank.

Guarantee of Credit Guarantee Fund Scheme, Guarantee fee paid by the bank.

Maximum Repayment period of 7 years including 2 year moratorium for term loan.