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Jan Samarth portal is an initiative by the Government of India to help individuals and businesses easily access loans under government loan schemes. This portal helps borrowers connect with lenders across the country offering loans under various credit linked government schemes. The platform hosts over 125 member lending institutions including all Public Sector Banks to disburse loans under the schemes.
All about Jan Samarth portal
Jan Samarth portal is an online platform launched for digital access to government loan schemes. Currently there are five loan categories that citizens can explore on the portal out of which business loans can be found under three categories:
- Agri loan – Kisan Credit Card KCC)
- Agri infrastructure loan
- Business activity loan
Agri loan – Kisan Credit Card KCC)
This loan is given to farmers to meet their credit needs for cultivation of crops and marketing related products. The benefits of the scheme are given below:
- To meet short term requirements for cultivation of crops
- Post-harvest expenses
- Produce marketing loan
- Consumption requirements of farmer household
- Working capital for maintenance of farm assets and allied activities
- Investment credit required for agriculture and allied activities
Agriculture infrastructure loans
These loans are provided for mobilisation of finance for post-harvest management and agricultural consulting, and the development of agricultural infrastructure, clinics, and business centres. There are three loans under this category:
- Agri Clinics and Agri Business Centers Scheme (ACABC)
This scheme is for graduates in agriculture related subjects who wish to set up agriculture clinics and business centers. This graduate should have passed training provided by National Institute of Agriculture Management (MANAGE).
The ceiling of the project cost but the subsidy is ₹20 Lakh for individual projects. In the case of extremely successful individual projects the ceiling is ₹25 Lakh and for group projects (must include five people trained by management MANAGE) the ceiling is 100 Lakh.
- Agricultural Marketing Infrastructure (AMI)
This scheme promotes the creation of agricultural marketing infrastructure including storage infrastructure by providing back in subsidy support to farmers states cooperatives and private sector investments. The subsidy support is at 25% and 33.33% and it’s available to beneficiaries that are routed through NABARD, NCDC and DMI.
The eligible infrastructure projects includes storage infrastructure projects, marketing infrastructure projects such as cleaning, grading, sorting, packing, etc., common facilitation center of FPOS, common facilities/marketing infrastructure in market yards and other value addition activities including mini oil expeller, mini dal mill, infrastructure for direct marketing, stand-alone standardised cold storage units, etc.
- Agriculture Infrastructure Fund (AIF)
Agriculture infrastructure fund offers long term financial assistance for building infrastructure for post harvest stage. Loans under this financing facility will have interest subvention of 3% per annum up to a limit of rupees ₹2 Lakh the subvention will be available for a maximum period of seven years credit guarantee coverage will be available for eligible borrowers from this financing facility under CGTMSE scheme for a loan up to ₹2 Lakh.
Eligible applicants include:
- Primary agricultural credit societies
- Marketing cooperative societies
- Farmers producer’s organisations (FPOs)
- Self-help Groups
- Joint level liability groups
- Multi-purpose cooperative societies
- Agri entrepreneurs and startups
Also read: Agriculture business loan: Know eligibility, interest rates, Subsidy , Benefits & more
Business activity loan
Business activity loans are provided for setting and expanding up businesses with scheme-wise benefits based on gender, social category, and type of business.
There are four schemes under this loan that can benefit businesses:
- Prime Minister’s Employment Generation Programme (PMEGP)
PMEGP scheme is a credit linked subsidy programme that gives subsidies to entrepreneurs seeking to set up new businesses. The scheme allows individual applicants above 18 years of age to set up small businesses.
The PMEGP scheme aims to offer a subsidy of 15% of the total project cost for setting up new micro enterprises in urban areas and 25% in rural areas for entrepreneurs belonging to the general category. The scheme gives a subsidy of 25% of the total project cost for setting up new micro enterprises in urban areas and 35% in rural areas for entrepreneurs belonging to the special category (SC, ST, OBC, minorities, women, ex-servicemen, transgenders, differently abled, NER, aspirational districts, hill and border areas, etc.)
To know more about PMEGP scheme read: PMEGP scheme: Know subsidy, eligibility, and more
- Weaver Mudra Scheme (WMS)
The scheme offers financial assistance to handloom weavers involved in weaving activity through weaver’s credit card or term loan. The loan is provided for working capital and purchase of tools and equipment. Under this scheme entrepreneurs can avail margin money support up to ₹25,000 per weaver and/or interest subsidy up to 3% on bank loan.
Eligible applicants include:
- Handloom weavers involved in viewing activity
- Weaver entrepreneur
- Self-help groups
- Joint liability groups
- Primary handloom weaver ‘s cooperative societies
- Apex handloom weaver’s cooperative societies
- Producer’s companies/consortia promoted by handloom weavers including those promoted under cluster/mega cluster/handloom parks under SITP or other schemes of ministry of textiles textiles
- Pradhan Mantri MUDRA Yojana (PMMY)
Commonly known as MUDRA loan, this government loan scheme offers loans of up to ₹10 Lakh to micro and small businesses. The PMMY loan scheme is divided into three categories namely Shishu, Kishor and Tarun. These categories point to the requirement of credit facility and the stage of growth development of the borrowing business unit.
To know more about PMMY scheme read: Mudra loan (PMMY): Benefits, eligibility and required documents
- Pradhan Mantri Street Vendor Aatmanirbhar Nidhi Scheme (PM SVANidhi)
The scheme provides a special micro credit facility to provide affordable loans to St. vendors these are collateral free working loans of up to rupees 10,000 for one year tenure the interest subsidy on the loan is at 7%.
Eligible applicants include:
- Street vendors in possession of certificate of vending/identity card issued by Urban Local Bodies (ULB)
- The vendors who have been identified in the survey done by ULB but have not been issued a certificate of vending/identity card
- Street vendors who have been left out of ULB identification or who have started vending after completion of the survey and have been issued letter of recommendation to that effect by ULB
- The vendors of surrounding development/peri urban/rural areas vending in the geographical elements of ULBs and have been issued letter of recommendation to that effect by a ULB
- Stand Up India scheme
Stand-Up India is a loan scheme that provides financial assistance to SC/ST and women entrepreneurs for setting up a greenfield business that conducts any activity including manufacturing, services, trading or agri-allied activities.
The scheme facilitates a composite loan (inclusive of term loan and working capital) between ₹10 Lakh to ₹1 Crore without any collateral or security under the guarantee of Credit Guarantee Fund Scheme.
To know more about Stand-Up India scheme read: Stand-Up India scheme: Features, eligibility and how to apply
How to register on the Jan Samarth portal?
Jan Samarth portal registration can be completed in a few easy steps. Visit the official Jan Samarth website and click on ‘Register’ option given on the banner of the website. Fill in the details enter the OTP sent to your phone to successfully register on the portal.
How to apply for loans on the portal?
Follow the steps given below to apply for schemes on the Jan Samarth portal:
- Login to the portal
- Hover the cursor on the schemes option given on the banner of the page
- Choose the desire scheme
- Scroll down the page of your desired scheme and click on ‘Check eligibility’
- Fill in the details for all the questions asked
- If you are eligible the website will display a message labelled ‘Congratulations, you are eligible’
- Navigate to the ‘Apply’ option by scrolling down
- Fill in the application and submit along with relevant documents
- The borrower can view offers from over 125 lenders and get digital approval from selected bank
If you are looking to apply for short-term business loan visit Tata nexarc’s Business Loans. You can get a loan approval within 5 minutes by choosing from loan offers from verified lenders including Public Sector Banks from across the country and funds deposited in your account within 72 hours.