Loans up to Rs 30 Lakh for Expatriate Ventures at 7% Interest Rate and up to 3 Lakh Subsidy

Loans up to Rs 30 Lakh for Expatriate Ventures

In the wake of the Covid crisis, NORKA Rehabilitation Project for Returning Expatriates. You can start your own businesses and institutions. The decision has been taken to sanction emergency loans of up to Rs 30 lakh through Norka Roots. The NORKA Department Project for Returned Emigrants (NDEPREM) awaits expats. Capital subsidy and interest subsidy up to a maximum of Rs. 30 lakhs. Lend to various sustainable entrepreneurial models. 61,009 people have already lost their jobs and come home. Already, 61,009 people have lost their jobs and 27,100 people whose work visas have expired or been canceled have registered with NORKA.

Who will get the help

The scheme is aimed at expatriates who have returned home permanently after working abroad for at least two years. The company, trust and society formed by them can also apply for the loan. 15% subsidy will be given. Up to a maximum of Rs 3 lakh. Those who pay the interest on time will also get an interest subsidy of 3% for the first four years.

Initiatives

The loan will be used to start Farm Tourism, Integrated Farming, Food Processing, Dairy, Fisheries, Goat and Poultry, Floriculture Vegetable Cultivation, Beekeeping, Restaurant, Homestay, Repair Shops, Furniture, Textile Industry, Bakery Products, Computer Equipment, Salons, Beauty Parlours, Paper Recycling, Dust Mills, Small Businesses and Taxi Service ventures .

In addition to providing guidance, NORKA will assist in preparing the project report.Through the Center for Management Development, NORKA will provide the necessary guidance for the first six months

APPLY ONLINE: CLICK HERE

You can register for the loan through the website www.norkaroots.org. Passport, project description and applicant's photo should be uploaded with the application.you should need Passport to prove residency abroad for two years,Ration, Aadhaar, PAN cards and three passport size photos .

Loans are disbursed through over 5,000 branches of 15 banks. In collaboration with Bank of India and UCO Bank, there is a facility to provide loans up to Rs. 10 Lakhs Without bail