PM Formalization of Micro Food Processing Enterprises (PMFME Scheme) - Agri & Rural
PM Formalization of Micro Food Processing Enterprises (PMFME Scheme)
PM Formalization of Micro Food Processing Enterprises (PMFME Scheme)
Purpose
- Enhance the competitiveness of existing individual micro-enterprises in the unorganized segment of the food processing industry and promote formalization of the sector.
- Support Farmer Producer Organizations (FPOs), Self Help Groups (SHGs) and Producers Cooperatives along their entire value chain.
Objectives
- Increased access to credit by existing micro food processing entrepreneurs, FPOs, Self Help Groups and Co-operatives.
- Integration with organized supply chain by strengthening branding & marketing.
- Support for transition of existing 2,00,000 enterprises into formal framework.
- Increased access to common services like common processing facility, laboratories, storage, packaging, marketing and incubation services.
- Strengthening of institutions, research and training in the food processing sector and
- lncreased access for the enterprises, to professional and technical support.
Features
- Type of Facility: Term loan
- Margin: Minimum of 10% of the project cost.
- Quantum of Loan:
- Minimum loan: No ceiling
- Maximum loan: No ceiling
- Repayment: Max. 10 years including maximum moratorium of 6-24 months.
- Security: As per Bank’s extant guidelines.
- Interest rate: -
- For Eligible MSME Entities:
- Loan up to Rs. 2 Cr: EBLR (External Benchmark based Lending Rate) +200 bps.
- Loan above Rs. 2 Cr: As per Bank’s extant guidelines.
- For Other Categories: FPOs/ SHGs/ Producer Cooperatives:
- Loan up to Rs. 50 lakhs: EBLR +360 bps
- Loan above Rs.50 lakhs: As per Bank’s extant guidelines.
- For Eligible MSME Entities:
- Upfront fee : As per Bank’s extant guidelines, are subject to revision by bank from to time.
- Subsidy/ Grant
- Individual Micro Enterprises: Capital Subsidy @35% of the eligible project cost with a maximum ceiling of 10.00 lakh per unit.
- FPOs/ SHGs/ Co-operatives: @35% of eligible project cost.
- Common Infrastructure Development: @35 % of eligible project cost.
- Credit Guarantee : For MSME: - CGTMSE for collateral free loan up to Rs.5 Cr. Other categories: For loans under MUDRA credit guarantee of CGFMU.
- Portal : https://pmfme.mofpi.gov.in
- FAQs : For more details, please visit nearest SBI Branch.
Eligible Entities
Individual entrepreneurs/ Proprietorship Firms/ Partnership Firms/ Farmer Producer Organizations (FPOs)/ NGOs/ Cooperatives/ SHGs/ Pvt. Ltd. Companies, who have established or propose to establish micro food processing unit
Document Required
- Application Form
- Two Passport Size Photographs.
- ID proof such as Driving License/ Aadhar Card/ Voter Identity Card/ Passport.
- Address Proof such as voter ID card, Driving License, Aadhar Card.
- Detailed Project Report (DPR)
- Any other document as per sanction.
Last Updated On : Saturday, 18-11-2023
Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above
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Criteria
- Features
- Eligibility
- Terms and Conditions
Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above