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Rs 8.6 crore loan for rural micro-enterprises

The Ministry provided loans totalling Rs 8.60 crore from the Community Enterprise Fund to 2614 self-help group (SHG) entrepreneurs in a week from 6th to 12th September.

SNS | New Delhi |

The Rural Development Ministry is giving loans for starting micro-enterprises in villages across States as part of the Azadi Ka Amrit Mahotsav.

The Ministry provided loans totalling Rs 8.60 crore from the Community Enterprise Fund to 2614 self-help group (SHG) entrepreneurs in a week from 6th to 12th September.

Prior to providing the loans, the SHG entrepreneurs were given initial training on entrepreneurship, and detailed business plans of their proposed businesses were prepared. Nineteen states participated in the initiative.

During these events, the SHG entrepreneurs shared their experiences and the journey of starting their own enterprises in their villages, becoming entrepreneurs and the support they received under the Start-up Village Entrepreneurship Programme (SVEP).

They also emphasized the strength of regular handholding to understand steps to do business and making it successful and also creating strong market linkages.

The SVEP is a sub-scheme under the National Rural Livelihood Mission (NRLM) to promote enterprises in rural areas. SVEP aims to set up an ecosystem for enterprise development in a block.

SVEP encompasses identifying business ideas, preparation of business plans, accessing loans and other supports like marketing, maintaining accounts & taking business decisions.