Funding Support: 10 Lakhs
Interest rate: NIL
Moratorium Period: 12 months
Repayment Period: 24 EMIs for loans up to Rs.5 Lakhs and 36 EMIs for loans above Rs.5 Lakhs
About the Scheme
Kerala Startup Mission has put up a proposal to SCDD for availing the interest-free loans as revolving funds for startups at startup dreams, as they need fund support for setting up/ scaling business. The seed revolving loan is an interest-free soft loan to SC/ST Startups with an upper limit of Rs.10 Lakhs, a moratorium of one year and repayment of a maximum of 36 EMIs. The startups incubated at Startup Dreams, Trivandrum are eligible to apply for the scheme
Eligibility Criteria
The startup should be a registered company in Kerala.
The startup should have DPIIT Certification & KSUM Unique ID
Startup Should be incubated at Startup Dreams, Trivandrum
The startup must be working in an innovative product or technology development
The proposal must be commercially viable and Innovative in nature.
The seed revolving fund generally caters to MVP stage/ Early revenue Stage financing for commercialisation of the indigenous ideas, innovations and technologies.
Minimum 51% shareholding belongs to the SC Directors/SC founders.
Seed revolving fund not be extended to those startups, whose directors have got multiple other startup companies.