The Kerala Financial Corporation (KFC) will provide a loan of ₹1 lakh each to 2,000 persons without surety in a bid to promote entrepreneurship ventures, Chairman and Managing Director Tomin J. Thachankary said on Friday.
Those seeking to set up micro, small, and medium enterprises (MSMEs) find it tough to mobilise resources and the KFC intended to provide them a helping hand, he said.
Women and transgender persons would get priority. Half the loan amount would be advanced by the KFC within a week. The KFC will also help the applicants secure MSME registration and PAN cards.
The KFC CMD said the loan will have to be repaid in three years and those taking the loan may repay weekly using payment gateways including Google Pay. The interest for the loan will be 7%, including the 3% subsidy provided by the State government.
