Meghalaya Any Business Venture Scheme

Meghalaya Any Business Venture Scheme helps entrepreneurs in Meghalaya start and grow their own business with subsidy and loan support under the Chief Minister's CM-ELEVATE program. The Government of Meghalaya runs this scheme to support 20,000 entrepreneurs across the state over the next five years, and applications are being accepted now through the official online portal.

This scheme is one of the 15 components under the CM-ELEVATE program and is open to businesses in any sector that is not covered by a specific category scheme. Eligible applicants can get a subsidy of 35% to 75% of the project cost along with bank loan support of up to 95%, making it easier for new and existing businesses to get the money they need.

Meghalaya Any Business Venture Scheme - Introduction

Meghalaya Any Business Venture Scheme is a flexible scheme under the Chief Minister's CM-ELEVATE program. It is meant for people who have a business idea but do not fall under any of the specific schemes like tourism, agriculture, or animal husbandry. The scheme lets such applicants apply for financial support for any kind of legal business venture.

The main aim of the program is to build a strong culture of entrepreneurship in the state. It increases the flow of credit to people who find it hard to get bank loans, especially small businesses and people from weaker sections. Along with money support, the scheme also provides training, mentorship, and handholding support so that businesses can run well and create jobs.

Key Information

Benefits

Under the CM-ELEVATE program, this scheme offers a range of benefits to help entrepreneurs build their business with less money pressure:

• Subsidy on project cost: Eligible applicants get a subsidy of 35% to 75% of the total project cost, depending on the scheme and sector. For Any Business Venture, the support goes up to 35% of the project cost.
• Bank loan support: Applicants can get a loan of up to 95% of the project cost from partner banks, which reduces the amount they need to bring in themselves.
• EMI support: The government provides EMI co-payment support in the early stage of the business to lower the monthly repayment burden.
• Flexible repayment: Loans come with a tenure of up to 15 years and a moratorium period of up to 18 months, giving businesses time to grow before repayments start.
• Training and mentorship: The program provides skill training, business guidance, and handholding support through PRIME and the departments.
• Registration help: Support is available for business registration and other formalities where required.

Eligibility

To apply under this scheme, applicants need to meet the following conditions. These rules are based on the official CM-ELEVATE guidelines:

For Individuals:

1. Applicant should be a permanent resident of Meghalaya.
2. Age should be between 18 and 58 years.
3. Applicant should not be a bank loan defaulter and should have no criminal or legal case.
4. Only one member from the same family can apply.
5. Applicant should have relevant experience or a clear plan for the proposed business.
6. Proof of land ownership or a valid lease agreement for the business site is required.

For Registered Entities:

1. The authorized representative should be between 18 and 58 years old.
2. All partners must be residents of Meghalaya with valid ID proof.
3. The entity should provide proof of registration or incorporation.
4. Land ownership or a legal lease certificate for the business site is required.

Exclusions

The following people and groups are not eligible to apply under this scheme:

1. Current or retired state and central government employees, including their immediate family members.
2. Employees of Public Sector Undertakings (PSUs) and their immediate families.
3. People holding or contesting political positions such as MLAs and MPs.
4. Registered Class-1 contractors.
5. Government consultants.
6. More than one member from the same family.
7. Political pressure groups or similar organizations.

Application Process

Application Steps

Applications for this scheme are processed online through the CM-ELEVATE portal and the MeghalayaOne e-services portal. Follow these steps to apply:

STEP 1 - Go to the official CM-ELEVATE portal at cmelevate.primemeghalaya.com or the MeghalayaOne portal and read all the instructions and scheme guidelines carefully.

STEP 2 - If you are a new user, click on the registration option and create an account using your mobile number or email ID. Verify your details to complete the registration.

STEP 3 - Sign in with your registered credentials and select the 'Any Business Venture' scheme from the list of available schemes under CM-ELEVATE.

STEP 4 - Choose your applicant type, whether individual, SHG, business, or organization, and fill in the application form with correct personal and project details.

STEP 5 - Upload all the required documents, review the form once, and submit the application. Save the application number for tracking the status later.

After submission, the district and state committees review the proposal. Applicants may be called for a virtual pitch or a physical site inspection by the bank or department teams before final approval.

Documents

Keep these documents ready before starting the online application:

For Individuals:

• Aadhaar Card and proof of address such as Voter ID, Passport, or Driving License
• Ration Card, if applicable
• Self-Declaration Form (Download here)
• Detailed Project Report or DPR (Download here)
• Land ownership or notarized lease certificate (Download here)
• Bank account details and PAN card, if available

For Registered Entities:

• Incorporation or Registration Certificate
• Address proof of the President or Secretary
• Self-Declaration, DPR, and Land Lease documents as mentioned above
• GST certificate and income proof, if applicable

References

CM-ELEVATE Official Portal

MeghalayaOne Official Portal

PRIME Website

Official DPR Format PDF

FAQ's

What is the Meghalaya Any Business Venture Scheme?

It is a scheme under the CM-ELEVATE program that helps entrepreneurs in Meghalaya start any kind of legal business with subsidy and loan support from the government.

How much subsidy is available under this scheme?

Under CM-ELEVATE, eligible applicants can get a subsidy of 35% to 75% of the project cost, depending on the scheme and sector. For Any Business Venture, the support is up to 35% of the project cost.

Who can apply for this scheme?

Permanent residents of Meghalaya aged between 18 and 58 years can apply. Individuals, SHGs, and registered business entities are all eligible, subject to the scheme conditions.

How much loan can I get?

Applicants can get a bank loan of up to 95% of the total project cost from partner banks, depending on eligibility and the scheme type.

Is this scheme free?

No, it is a subsidy plus loan based scheme. The government pays a part of the project cost as subsidy and provides EMI support, while the rest is covered through a bank loan.

How do I apply for this scheme?

Visit the official CM-ELEVATE portal at cmelevate.primemeghalaya.com or the MeghalayaOne portal, register, select the Any Business Venture scheme, fill the form, upload documents, and submit online.