Credit Rating Scheme

Credit Rating Scheme

How to Get Maximum Subsidy Under Credit Rating Scheme

“Credit Rating Scheme” has been notified under the provisions of “Haryana Enterprises & Employment Policy, 2020”, with an objective to to reimburse the expenses incurred towards the credit rating, which will encourage MSME sector in improving its contribution to the economy by way of increasing their productivity, since a good rating would enhance their acceptability in the market and also make access to credit quicker and cheaper and thus help in economizing the  cost of credit.

 

1. Have you started your Business After Ist Jan 2021?

The Incentives under this policy applicable for business who start up  their operations after Ist Jan 2021 and this scheme is valid for 5 years till 31^st Dec. 2025.

The units which have obtained credit rating certification on or after 01.01.2021 and before 31.12.2025 shall be eligible under the scheme.

2. Objective of the Scheme

It is expected that the Rating Scheme would encourage MSME sector in improving its contribution to the economy by way of increasing their productivity, since a good rating would enhance their acceptability in the market and also make access to credit quicker and cheaper and thus help in economizing the  cost of credit.

Therefore, a provision of Credit Rating Scheme for Micro, Small& Medium enterprises has been made in order to reimburse the expenses incurred towards the credit rating.

3. Your Business Eligibility for subsidy under this scheme.

MSME registered units will be eligible for subsidy under this scheme.

However, the Industrial Units must comply for the following conditions at the time of application:

• Unit should have filed Udyam Registration Certificate (URC) and Haryana Udhyam Memorandum (HUM) on the portal for statistical purpose, at any stage.
• The item of manufacture should not fall in the restrictive list as notified by the State Government from time to time.
• Unit should have obtained NOC/CLU from competent authority, if applicable.
• The unit should be in commercial production.
• Unit should be in regular production at the time of disbursement and the assistance shall not be released to the closed unit.

4. Your Business Can get Maximum Subsidy.

Reimbursement of  the expenses incurred towards the credit rating to the extent of  75% or  maximum of  INR 2 lakh for Micro, Small and Medium enterprises carried out by SIDBI/Govt. accredited credit rating agency once in every 5years.

This would be in addition to the support being provided by Government of India.

5. Documents Required for Subsidy Claims-

The following documents are required in order to apply for the scheme:

1. Copy of Udyam Registration Certificate (URC) and Haryana Udhyam Memorandum (HUM)
2. Certificate of Incorporation/ Partnership deed & Partnership registration/ Co-operative society registration.
3. Board resolution/ Power of attorney.
4. Change of Land Use (CLU)/ NOC from competent authority, if applicable.
5. Undertaking/Declaration on non-judicial stamp paper(Annexure-II)
6. CA Certificate (Annexure-III).
7. Copy of GST return/Audited Balance Sheet for last financial year.
8. Copy of bills raised by certifying agency & proof of payment thereof.

If you are planning for this then contact us at- 9017151780

We at KIP provide assistance in new business opportunity and many subsidy schemes applicable on various businesses. So, if you want to know more subsidy schemes visit-

• Collateral Free Credit Guarantee Scheme- https://kipfinancial.com/collateral-free-credit-guarantee-scheme/
• Electric Duty Exemption– https://kipfinancial.com/electric-duty-exemption/
• Testing Equipment Scheme– https://kipfinancial.com/testing-equipment-scheme/
• Employment Generation Subsidy Scheme- https://kipfinancial.com/employment-generation-subsidy/

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