STAR MICRO FOOD PROCESSING ENTERPRISES SCHEME (SMFPE)
A Centrally sponsored scheme for financing under -PM formalisation of Micro Food Processing enterprises(PMFME) Scheme-operational upto 2024-25
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Medium to Long term finance with working capital limits.
Existing as well as new micro food processing units for capital investment in ODOP as well as Non ODOP projects.
The enterprise should be unincorporated and should employ less than 10 workers
The applicant should have ownership right of the enterprise
The applicant should be above 18 years of age and no minimum stipulation on educational qualification
Only one person from one family will be eligible for obtaining financial assistance. The “family” for this purpose will include self, spouse and children
Setting up of Common Infrastructure by Groups:
Financial support for common infrastructure will be provided to FPOs, SHGs and its federation/, cooperatives, Government agencies who have established or propose to establish food processing along with common infrastructure/ value chain/ Incubation Centres.
Credit facility for capital investment, creation of infrastructure, marketing of products under ODOP.
Substantial capacity of the Common Infrastructure Facility (CIF) as well as processing line should be available for use by other units and public on hiring basis.
Proposal for both ODOP and non ODOP are eligible for assistance.
No pre-condition of minimum turn over and experience of the applicant organization.
Credit facility/ Support for branding and marketing of products:
Marketing and branding support would be provided to groups of FPOs/SHGs/ Cooperatives or an SPV of micro food processing enterprises under the Scheme.
Subsidy/Support for branding and marketing would be limited to 50% of the total expenditure. Proposal from state or national level institutions or organizations or partner institutions for branding & marketing would be supported for vertical products at the national level. No support will be provided for opening retail outlets under the scheme.
State entities can include non ODOP products in the basket of products and may also include products that have acquired GI Tag.
For private entities, multiple ODOPs of the state (in which the entity is registered) can be selected. The applicant must demonstrate net worth equivalent to their share of contribution in the proposal.
The final product should be the one to be sold to the consumer in retail pack.
The proposed project cost should not be more than 50% of 3 years average projected turnover (not historical turnover).
Minimum duration of the project should be minimum one year for state entities and two years for state entities
Product and producers should be scalable to larger levels.
Management and entrepreneurship capability of promoting entity should be established in the proposal.
Before applying you must have
KYC documents(identity proof and address proof)
Detail Project Report (for project financing)
Statutory permission/licenses/udyog adhaar for project financing
Documents related to collateral security, if applicable.
For more information
Please give a missed call to 8010968370
*Terms & Conditions apply. For further details, Please contact your Nearest Branch
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