Youth Startup Loan Scheme (Under SKEWPY)

Labour & Employment Department, Jammu and Kashmir

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Details

Amount

Upto: ₹8 lakh

Provider

Labour & Employment Department, Jammu and Kashmir

Type

grant

Stage

any Stage

About this Opportunity

The Youth Startup Loan Scheme, under the Sher-i-Kashmir Employment & Welfare Programme for Youth (SKEWPY), provides financial assistance in the form of soft loans to unemployed youth in Jammu and Kashmir to establish new enterprises. Projects with an investment of up to ₹8.00 lacs are considered for financing with 90% as loan and 10% beneficiary contribution. For higher investment projects, the loan component is capped at ₹8.00 lacs.

Eligibility

Age must be 18–40 years (extended to 18–42 for differently abled).
Must have an education of 10+2 or higher.
Must be a domicile of Jammu & Kashmir.
Unemployed and registered with the District Employment & Counseling Center.
Only first-generation entrepreneurs with no prior subsidies under other state/central schemes.

Application Process

Registration:
- Offline registration at any JKEDI office across J&K.
- Submission of required documents, including proof of domicile, educational certificates, and DECC registration.
Training: Mandatory 3-week entrepreneurship training at JKEDI.
Loan Approval:
- Loan Amount: Up to 90% of project cost (capped at ₹8 lakh in pilot phase; later expanded to ₹12–20 lakh based on education).
- Guarantee: Requires third-party guarantee.
Disbursement: Funds released after project appraisal and guarantee verification.