Interest Subsidy Scheme for Smaller Business Units
The Interest Subsidy Scheme for Smaller Business Units in Goa offers financial support for working capital loans.
Key facts
| Benefit | Interest subsidy on working capital loans up to ₹5 lakh yearly |
|---|---|
| Who | New and existing business units in Goa |
| How paid | Directly to the bank account |
| Implemented by | Department of Information Technology, Goa |
| Official portal | goaonline.gov.in |
| Application window | Apply annually after incurring relevant expenditure |
Benefits
Beneficiaries can receive an interest subsidy on working capital loans, capped at ₹500,000 annually for up to three years, subject to budget availability.
Who can apply
- For: business
- Resident of Goa
- not income tax payer
- no government employee in family
Eligible applicants include new and existing business units operating in Goa, such as proprietorships, private and public limited companies, registered partnerships, and limited liability partnerships. Exclusions apply to units already receiving similar financial incentives from other Goa government policies.
Who is not eligible
- Units availing similar financial incentives under other Goa government policies
How to apply
Applications can be submitted online through the official Goa Online portal.
- Visit the Official Web Portal of Goa Online and click 'Register'.
- Verify your Email ID and Mobile Number using OTP, then proceed to the Registration Page.
- Complete the registration form with all mandatory fields and create a Login Name and Password.
- Log in using your credentials and navigate to 'Services', then 'IT Services' and select the scheme.
- Fill in the application form and upload all required documents.
- Submit the application and note the unique registration number for future reference.
Documents required
- Copy of Incorporation Certificate
- Copy of new unit registration document/certificate
- Copies of PAN, Aadhaar and GST TIN
- Memorandum and Articles of Association
- Copy of first bill generated showing the date of commencement of operations or other relevant document
- Copy of original loan agreement showing terms of the said loan, principal amount, rate of interest and other relevant details
- Copies of receipts/bank statements/demand drafts or other supporting document as proof of payment of interest for said period
- Udyog Aadhaar
Common problems and how to fix them
| Problem | What to do |
|---|---|
| Application rejected | Ensure all mandatory documents are submitted and correctly filled in the application form. |
| Payment not received | Check the status of your application on the official portal and ensure that all eligibility criteria are met. |
Frequently asked questions
Who is eligible to apply for this scheme?
New and existing business units operating in Goa are eligible, including various types of companies and partnerships.
What documents are required for the application?
Applicants must provide documents such as the Incorporation Certificate, PAN, Aadhaar, GST TIN, and proof of interest payment, among others.
Is there an application fee for this scheme?
No, there are no fees associated with applying for the Interest Subsidy Scheme.
How can I track the status of my application?
You can track your application status by visiting the designated status tracking page on the Goa Online portal.
Are the benefits under this scheme guaranteed?
The benefits are subject to budgetary allocation and may not be guaranteed if the allocation is exceeded.
What types of businesses can apply?
Eligible businesses include proprietorships, private and public limited companies, registered partnerships, and limited liability partnerships.
Always confirm the latest details on the official portal before applying.
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