Kerala Startup Mission (KSUM) has launched a soft loan scheme exclusively for women start-ups, offering upto Rs 15 lakh as working capital for implementing works and projects received from the government departments and public sector undertakings (PSUs) in the state.
The beneficiaries will be eligible for a loan amount of upto of 80 percent of the purchase order, which will be disbursed as advance against the milestone payment agreed by the client. The loan, which carries six percent interest, has to be repaid within one year or on completion of project with full settlement, whichever is earlier.
Startups having an active certification from the Department for Promotion of Industry and Internal Trade (DPIIT) and KSUM Unique ID can apply for the loan. Women co-founders of start-ups can also apply for the loan provided they have a majority stake in the venture which is registered in Kerala.