Lack of money will no longer stop your dreams, you are getting a government loan of Rs 20 lakh without any mortgage.

News India Live, Digital Desk: Often over tea or in the gathering of friends, we all discuss that “Dude, I have nothing in my job, I want to start my own business, even if it’s a small one.” But the next moment when we look at our pocket and bank account, that enthusiasm cools down a bit. On top of this, the banks fear that what will they give in ‘guarantee’?

If you also have such a great business plan, then you should know that the Government of India and various ministries are now standing behind the youth. There are many such schemes of the government (like PM Mudra Yojana or PMEGP) which have now been updated so that the youth can get financial assistance up to Rs 20 lakh without any security.

Why is this a ‘golden chance’?
The biggest beauty of this scheme is that you will not have to show your house papers or ancestral land to prove to the bank that you will be able to return the money. Here your ‘guarantee’ is being taken by the government itself. This loan can be taken to start manufacturing, service sector or small business.

Who will get the benefit and how?
The main target of these government schemes are those unemployed youth who have some technical skill or who want to take their traditional work to a larger level. All you need to do is prepare a strong ‘project report’ detailing what you want to do, how much profit it will generate and how many people you will employ.

Now it’s easier to apply
The old file system is now gone. Now you can check your eligibility sitting at home by visiting ‘Jan Samarth’ portal or related departmental website. Aadhar Card, PAN Card and details of your business are the main documents which are used in this process.

a tip on the go
The government is ready to give money, but consider it as a ‘loan’ which has to be repaid. Do good research before starting a business. When the government is taking such a big risk on you, then your responsibility also increases to use that fund properly and prove it successful.

If you have the intention and the passion to work hard, then the budget excuse is gone. Visit your nearest bank today or check online, is this loan going to open the doors of your luck?