Interest Subsidy Reimbursement Scheme
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Quick Answer
Goa-based startups can receive reimbursement of 10-30% of interest paid on commercial/bank loans, up to ₹10 lakh over two years, from the Government of Goa.
- Funding amount
- ₹4 Lakhs – ₹10 Lakhs
- Funding type
- Subsidy
- Provider
- Goa Startup Mission
- Application deadline
- Rolling
- Location
- Goa
About this subsidy
The "Interest Subsidy Reimbursement Scheme" is a scheme by the Department of Information Technology, Electronics and Communications, Government of Goa, for Startups of Goa. Through this scheme, projects which show immense promise and potential will be eligible for a grant of 30% of the loan interest amount, for the purpose of repayment of the interest component of a bank/commercial loan availed by the startup. This is NOT a government loan — the startup takes a commercial/bank loan independently, and the government reimburses a portion of the interest cost paid. The reimbursement/subsidy itself is non-repayable.
Eligibility
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Subsidy providers
Goa Startup Mission is the State's nodal agency for startup promotion, operating through the Start-up Information Technology Promotion Cell (SITPC) under the Department of IT, Electronics & Communications, Government of Goa. It implements the Goa Startup Policy and manages a…
Learn moreBenefits & Funding
- Amount
- ₹4 Lakhs – ₹10 Lakhs
What You Get
This scheme provides a crucial interest subsidy reimbursement for Goa-based startups. Tier 1 startups (top 3 selected by SPC) are eligible for 30% of the loan interest amount, up to ₹5,00,000 per annum for two years, totaling ₹10,00,000. Tier 2 startups (up to 40 per year) receive 10% of the interest amount, up to ₹2,00,000 per year for two years, totaling ₹4,00,000. This support directly reduces the cost of capital for startups by alleviating the burden of interest payments on commercial bank loans.
- Disbursement
- Reimbursement
- Duration
- 24 months
- Cohort size
- 40 startups
- Bootstrap friendly
- Yes
Timelines & Process
Applications
Rolling basis
Selection Process
Applications are evaluated by the Start-up Promotion Cell (SPC), and approval or rejection is notified within 45 days from the date of receipt of the application.
Application Process
- 1
Apply Online/Offline
Submit your application form and required documents either through the official Goa Startup Mission website or via email to the SPC.
You - 2
- 3
- 4
How to apply
Four steps from draft to disbursement — one action each.
- 1
Submit on the official portal
Use the official application link and verify all details before final submission.
- 2
Follow up
Reach out 5–7 days after submitting to confirm receipt and ask about the review timeline.
Frequently Asked Questions
Can start-ups use the benefits in conjunction with other interest subsidies under CMRY?
Yes, the benefits are in addition to any other interest subsidy or loan provided under Chief Minister Rojgar Yojana (CMRY).
How often can start-ups avail the benefits of this scheme?
Start-ups can avail of the benefits bi-annually or annually.
Is there a specific time frame within which start-ups can apply?
Start-ups can apply at any time during the financial year but only within 6 months of incurring the relevant expenditure.
Sources
Data on this page is compiled from official program and provider references.
