JanSamarth Portal Launches Common Application for Startup Loans Up to ₹20 Crore

The Department of Financial Services (DFS) has introduced a Startup Common Application on the JanSamarth Portal to make it easier for startups to apply for bank loans. As per PIB, the new system will allow startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) to seek credit up to ₹20 crore under the Credit Guarantee Scheme for Startups.

One Platform for Loan Applications

The platform provides a single online form for startups to apply for loans from public sector banks. It removes the need to approach multiple banks separately. The system is linked with databases such as PAN, GST, Udyam, and Income Tax Returns to enable faster verification and reduce paperwork.

The application was launched by M. Nagaraju, Secretary, DFS. It has been developed by the Indian Banks’ Association in partnership with PSB Alliance Pvt. Ltd. The portal is to create a uniform loan application process for startups across public sector banks.

Who Can Apply

Startups recognised by DPIIT can use the platform to apply for loans. Eligible organisations include private limited companies, registered partnerships, and limited liability partnerships (LLPs). To qualify, the startup’s age should not exceed 10 years, and annual turnover should be under ₹100 crore.

Startups created through restructuring or belonging to Hindu Undivided Families, and those listed as non-performing assets, are not eligible for the scheme.

Credit Options

Startups can apply for term loans, working capital loans, and non-fund-based limits such as forward contracts for foreign exchange hedging. The system also includes provisions for interest concessions for women-led startups.

About the JanSamarth Portal

The JanSamarth Portal, launched in June 2022, is a government platform that connects users with credit-linked schemes. The addition of the Startup Common Application brings startup financing under the same digital system, allowing easier access to loans across India.

Read More: India Deep Tech Alliance to Invest up to $15 Million in AI, Space, and Defence Startups!

Conclusion 

With the inclusion of the Startup Common Application, the JanSamarth Portal now covers credit access for DPIIT-recognised startups through a single digital platform.

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