MUKHYAMANTRI YUVA UDYAMI VIKAS ABHIYAN (MYUVA)

MUKHYAMANTRI YUVA UDYAMI VIKAS ABHIYAN (MYUVA) - UTTAR PRADESH

Eligibility

Individuals and Proprietorship Firms
1. Applicant must be a resident of Uttar Pradesh.
2. Age – 21 to 40 Years.
3. Education qualification – Minimum 8th Pass or equivalent.
4. Others:
• Applicant must not have availed benefits in terms of subsidy under any other central/state scheme, except PM Svanidhi.
• Applicant should be trained under government-operated programs like Vishwakarma Shram Samman Yojana, ODOP Training, SC/ST/OBC Skill Enhancement or similar certified course.
• Beneficiaries who repay principal and penal interest within 4 years will be eligible for second phase financing.
• Defaulters under Phase 1 will not be eligible for Phase 2 funding.

Project Cost

FOR FIRST PHASE:
• Max project cost: ₹5.00 lakh.
• If project exceeds ₹5 lakh up to ₹10 lakh → No subsidy on excess amount.

FOR SECOND PHASE (EXPANSION):
• Max project cost up to ₹10.00 lakh.
• For project cost above ₹10 lakh and up to ₹20 lakh → Loan allowed, subsidy only on max ₹7.50 lakh.
• 50% interest subvention for 3 years from disbursement on eligible subsidy amount.

Purvey of Scheme

All branches located in Uttar Pradesh.

Nature of Facilities

• Term Loan
• Working Capital (Cash Credit/Overdraft)
Note: Loan will be composite in nature, minimum 10% of project cost must be Term Loan.

Quantum of Finance / Project Cost

Phase I
• Project cost up to ₹10.00 lakhs
• 1. Up to ₹5 lakh
• 2. Above ₹5 lakh to ₹10 lakh
• Subsidy up to project cost of ₹5.00 lakh
• Maximum loan: 4.50 lakhs (approx.)
• Bank loan = Project cost – Owner’s Contribution (minimum 10%)

Phase II
• Eligible only after full repayment of Phase I loan.
• Project cost up to ₹20.00 lakhs.

Margin Money

Description	Margin Money / Borrower's own Contribution
General Category	15% of the project cost
Other Backward Classes (OBC)	12.5% of the project cost
Scheduled Castes (SC) / Scheduled Tribes (ST) / Persons with Disabilities	10% of the project cost
Economically Backward Geographical areas in the state (Bundelkhand and Purvanchal regions) / Residents of Aspirational Districts	10% of the project cost

NOTE: Margin Money contribution will be front-ended.

Margin Money Subsidy

The beneficiary will be given a margin money subsidy of 10% of the project cost or a maximum of ₹5.00 Lakh, whichever is less.
For units with project cost exceeding ₹5.00 Lakh and up to ₹10.00 Lakh, the beneficiary will have to arrange the loan/finance from their own sources, and no subsidy will be payable against this.
This subsidy will be back-ended.
If the project is not established or is closed within 4 years, the margin money subsidy amount will not be released to Borrower.
This subsidy will be adjusted in the beneficiary’s account after the unit has been operational for 4 years.

NOTE: No margin money subsidy will be payable for the second phase project.

Interest Subsidy

FOR FIRST PHASE:

An interest subsidy on 100% of the loan taken from the bank against the project cost or a maximum of ₹2.00 lakh, whichever is less, will be provided for the next 4 years from the date of financing.
The state government will also bear the necessary amount for CGTMSE coverage for 4 years.

FOR SECOND PHASE:

Projects up to ₹10.00 Lakh are covered and an interest subsidy of 50% on the loan amount will be provided for the next 3 years from the date of financing.
Units with a project cost exceeding ₹10.00 lakh but up to a maximum of ₹20.00 lakh can be expanded under the second phase. However, an interest subsidy of 50% on the loan amount up to a maximum of ₹7.50 lakh will be provided for the next 3 years from the date of financing.
The beneficiary will have to arrange the remaining loan/finance from their own sources.
The state government will also bear the necessary amount for CGTMSE coverage for 3 years in the second phase.
The interest subsidy will be provided on a quarterly basis.
If the beneficiary has availed CGTMSE coverage on any loan from their own sources from a financial institution/bank, there will be no restriction on providing the loan and CGTMSE coverage under the proposed scheme.

Moratorium Period

A moratorium period of maximum 6 months will be given from the date of the disbursement.

Repayment

FOR FIRST PHASE:

Working Capital: 12 months subject to annual renewal as per extant guidelines.
Term Loan: Maximum 4 years including moratorium period of maximum 6 months.
However, interest is to be serviced during moratorium period.
At the end of 4^th year both the facility to be fully liquidated.

FOR SECOND PHASE:

Term Loan: Up to 36 months.
Working Capital: Limit to be reviewed every year.
At the end of 3^rd year both the facility to be fully liquidated.

Guarantee

The facility to be covered under CGTMSE as per extant guidelines of CGTMSE.
No third party guarantee need to be obtained.

Note: If the beneficiary has availed CGTMSE coverage on any loan from their own sources from a financial institution/Bank, there will be no restriction on providing the loan and CGTMSE coverage under the proposed scheme.

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