Maharashtra Annasaheb Patil Loan Yojana

Summary of the Scheme
Name of Scheme	Maharashtra Annasaheb Patil Loan Yojana
Benefits	Business Loan Interest Reimbursement
Beneficiary	Economically Weaker Maharashtra Entrepreneurs
Nodal Agency	Annasaheb Patil Arthik Magas Vikas Mahamandal
Subscription	Subscribe here to get Update Regarding Scheme
Mode of Apply	Online

Maharashtra Annasaheb Patil Loan Yojana: Get Your Business Loan Interest Reimbursed

A Maharashtra government scheme that reimburses the interest on bank business loans of up to ₹15 lakh for individuals and ₹50 lakh for groups, turning a regular loan into an almost interest-free one.

What is the Annasaheb Patil Loan Yojana?

The scheme is run by the Annasaheb Patil Arthik Magas Vikas Mahamandal Maryadit, Mumbai, a state corporation under the Planning Department of the Government of Maharashtra. It was set up on 27 November 1998 to encourage entrepreneurship and self-employment among economically backward people in the state.

The corporation does not give the loan itself. You take a business loan from a bank, repay your EMIs on time, and the corporation pays the interest portion directly into your Aadhaar-linked bank account.

The scheme mainly supports economically weaker youth from the Maratha community and from categories for which no other corporation operates in Maharashtra. Online implementation began on 2 February 2018.

Schemes Currently Open

• IR-I (Individual Loan Interest Reimbursement): for individual entrepreneurs
• IR-II (Group Loan Interest Reimbursement): for eligible groups and organisations
• The Group Project Loan Scheme (GL-I) is temporarily suspended.

Key Benefits

IR-I: Individuals

• Business loan of up to ₹15 lakh from an eligible bank
• Interest reimbursement of up to ₹4.5 lakh, at a maximum interest rate of 12% per annum
• Reimbursement for up to 5 years or the actual loan tenure, whichever is shorter. For loans under the enhanced ₹15 lakh limit, it may extend up to 7 years. Check your LOI for the exact period.
• Interest is credited through DBT after you pay each full EMI
• 4% of total scheme funds reserved for divyang applicants, with priority to first-time divyang applicants
• Priority for families with lower annual income
• Old LOI holders (LOI issued before 20 May 2022) get reimbursement on loans up to ₹10 lakh, with a maximum reimbursement of ₹3 lakh

IR-II: Groups

• Maximum interest reimbursement of ₹15 lakh, at up to 12% per annum
• Reimbursement for up to 5 years or the loan period, whichever is shorter
• Open to Self-Help Groups, partnership firms, cooperative societies, companies, LLPs and Farmer Producer Organisations (FPOs), including loans for agribusiness activities

Eligibility

IR-I (Individual)

• Resident of Maharashtra, with the business located in Maharashtra
• Mainly for the Maratha community and categories with no other corporation in the state
• Age: maximum 45 years for men and 55 years for women
• Annual family income within the non-creamy layer limit (up to ₹8 lakh), based on gross income, as shown by a competent authority’s certificate or the ITR of the applicant and spouse
• Total business loan must not exceed ₹25 lakh
• Loan must be sanctioned by a CBS-enabled, RBI-regulated bank operating in Maharashtra
• A blood relative can be co-borrower or guarantor, but your name must be the first borrower
• The online LOI must be generated before the bank sanctions the loan
• Divyang applicants must be capable of running the business

IR-II (Group)

• Members must be Maharashtra residents with the business located in Maharashtra
• Members must be aged 18 to 45 years and within the non-creamy layer income limit
• The group must be a government-recognised SHG, registered partnership firm, registered cooperative society, company, LLP or eligible FPO
• The loan must be for a new business or expansion of an existing one
• The group must register on the official portal

Documents Required

For the application

• Aadhaar card
• Residence proof (any one): electricity bill, gas connection book, telephone bill, Tehsildar’s residence certificate, ration card, valid passport or rent agreement
• Income proof: latest family income certificate from the Tehsildar, or the latest ITR of the applicant and spouse
• Caste proof
• One-page project report
• Online affidavit accepting the scheme’s terms
• Disability certificate (for divyang applicants)

For the interest reimbursement claim

• Bank loan sanction letter
• Bank statement showing loan disbursement
• EMI repayment schedule from the bank
• Bank account details for receiving the reimbursement
• Bank statement with the bank’s signature and stamp as proof of EMI payment
• Photos of the running business (within six months of starting it)

How to Apply

You can apply on the Udyog MahaSwayam portal or through the Annasaheb Patil Arthik Magas Vikas Mahamandal mobile app.

Step 1: Register

1. Visit the Udyog MahaSwayam portal. Existing users log in with their User ID and password.
2. New users register as a beneficiary using Aadhaar and verify the OTP sent to the Aadhaar-linked mobile number.

Step 2: Fill the application

1. Log in and select IR-I (individual) or IR-II (group).
2. Enter your personal, income and business details.
3. Fill in the online affidavit.
4. Upload your documents and the one-page project report, then submit.

Step 3: Get your LOI

1. The corporation reviews your application within seven days and informs you by SMS whether you are eligible or the application has errors.
2. If eligible, you receive the Letter of Intent (LOI) online.
3. The LOI is valid free of cost for 6 months. After that, renew it every 3 months for ₹250 online.
4. It stays valid for a maximum of 1 year, after which you must apply afresh.

Step 4: Apply for the bank loan

1. Take your LOI, project report and other documents to a CBS-enabled, RBI-regulated bank in Maharashtra.
2. The bank decides independently whether to sanction the loan.
3. Make sure your name is the first borrower in the loan account.

Step 5: Update loan details

1. After disbursement, log in again and upload the sanction letter, disbursement proof, EMI schedule and bank account details.
2. Within six months of starting the business, upload photos of it.

Step 6: Claim interest reimbursement

1. Pay every full EMI on time.
2. Upload the bank statement with the bank’s signature and stamp as proof of payment.
3. Submit the online claim. The corporation verifies it and credits the interest portion to your Aadhaar-linked account.

Important Reminders

• Generate the LOI before the loan is sanctioned. Otherwise you may lose eligibility.
• Pay EMIs on time. If you miss the due date, the corporation is not bound to reimburse the interest for that instalment.
• Upload business photos within six months of starting the business.

Contact and Helpdesk

• Helpline: 022-45005895
• Email: apamvmmm2021@gmail.com