Prime Small Enterprise Empowerment and Development(SEED) Scheme

About This Scheme

The SEED Prime – Small Enterprise Empowerment and Development (SEED) Scheme, under the Chief Minister’s ELEVATE Program and implemented by the Planning Department, Government of Meghalaya, aims to empower youth and promote inclusive entrepreneurship across the state. The scheme provides financial support for setting up or expanding small business ventures. It primarily targets the unorganized sector and underserved business activities that contribute significantly to the local economy but have historically lacked institutional support.

Eligibility

For Individuals: 1. The applicant must be between 18 and 58 years of age. 1. The applicant must be a permanent resident of Meghalaya. 1. The applicant must provide proof of relevant experience in the field related to the proposed project. 1. The applicant must substantiate experience through past projects, portfolios, certifications, or testimonials from the village headman. 1. The applicant shall not be a credit defaulter with any bank or financial institution. 1. The applicant without demonstrated relevant experience will not be considered. For Unregistered Entities: 1. The unregistered entity must be based in Meghalaya. 1. The unregistered entity may include village organizations, self-help groups, traditional communities, or similar groups. 1. The unregistered entity must provide proof of relevant experience in the field related to the proposed project. 1. The unregistered entity must substantiate experience through past projects, portfolios, certifications, or testimonials from the village headman. 1. The unregistered entity shall not be a credit defaulter with any bank or financial institution. 1. The unregistered entity without demonstrated relevant experience will not be considered.

Benefits

1. 50% of total project cost supported as upfront subsidy by Government of Meghalaya (₹50,000 max) 1. 5% of total project cost to be contributed by entrepreneur as own share 1. Remaining 45% of project cost eligible for bank loan 1. Loan tenure of 2 years with a 3-month moratorium period before EMI begins 1. Financial support strictly for asset creation (machinery, equipment), operational or working capital expenses not allowed 1. Opportunity to access scheme through single online portal under CM-ELEVATE initiative 1. Cash Credit loan option available for eligible beneficiaries 1. Support to entrepreneurs from unorganized and underserved sectors with emphasis on creating local employment

How to Apply

Where This Comes From

This scheme was sourced from myScheme, the Government of India's official Central+State scheme discovery portal, and reviewed by an editor before publishing. Use the button above to read the full details and apply directly on the official source.