Government extends deadline for grant and seed capital loans

Last date to apply for the loan is July 14

Chhatrapati Sambhajinagar: In a bid to support aspiring entrepreneurs, the Sahitya Ratna Lokshahir Annabhau Sathe financial development corporation has extended the deadline for grant and seed capital loan applications until July 14.

The government has allocated funds for this purpose after several years, but oppressive conditions attached to the loans have caused many potential beneficiaries to turn away. Recognizing the challenges faced by applicants, the corporation aims to ensure that individuals do not miss out on the opportunity to become entrepreneurs due to complicated requirements and documentation. The decision to extend the deadline has been made in response to public demand and to facilitate the smooth processing of applications. Despite the provision of this financial assistance, only a meager 15 applications have been submitted at the office thus far, highlighting the difficulties faced by potential beneficiaries. In contrast, other financial corporations receive a higher loan limit and a 35 percent grant, encouraging them to develop into resilient entrepreneurs.