CUY Loan Scheme (Coir Udyami Yojana)

Coir Udyami Yojana (CUY Scheme) is a credit-linked subsidy scheme that helps entrepreneurs in setting-up up coir manufacturing units for a maximum project cost of up to Rs. 10 lakh. The CUY Loan Scheme is a mix of subsidy and loan, subject to a small upfront contribution by the owner of the unit. Start-up businessmen who are interested to establish the coir manufacturing unit can avail the benefit of this scheme. They can apply to any coir board of the state or designated institute by the coir board.

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Eligibility Criteria for Coir Udyami Yojana (CUY)

Eligibility Criteria for CUY Scheme
Age Criteria	Indian Citizen above 18 years of age
Income Ceiling	No specific income ceiling capped
Scope of Eligible Project	Production of coir fibre, yarn and finished products
Eligible Applicants	Individual (Only one person per family) NGO(Non-Government Organization) Self Help Group Registered Society Charitable Trust Joint Liability Group
Project Profile	If the project has already availed the subsidy under any other scheme of central government or state government, the project is not eligible for CUY

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Features & Benefits of Coir Udyami Yojana (CUY)

The maximum coir project cost under Coir Udyami Yojana is up to Rs. 10 lakh in which the cost of working capital is not included in the project cost
The project cost plus one working capital cycle that shall not exceed 25% of the project cost
The scheme is launched by the Central government to establish micro and small level coir units in the country
Only 5% of the project cost has to be paid by the applicant, initially
Applicant can avail the 40% subsidy from the government of the project cost
Balance 55% of the project cost is granted in the form of a loan at the concessional terms
The project cost covers every kind of capital purchases. However, working capital is not considered for the purpose of the loan and subsidy
Companies, Individuals, NGOs, Self-Help Group, Registered Society, Production Co-Operative Society and Charitable Trust can apply for this scheme

Additional Features:

Loan Coverage	Capital expenditure Building Machinery Working capital is not considered If work shed is already available, it is not considered for loan or subsidy amount
Maximum Repayment Period	Max. up to 7 Years
Collateral/Security/Guarantor	Not required
Credit Guarantee	Loan under Coir Udyami Yojana is covered through the CGTMSE scheme under the Ministry of MSME

Suggested Read : Apply for Business Loan Collateral-Free Online

Documents Required for Coir Udyami Yojana

Cast certificate issued from the competent authority to avail the benefit under special cast applicants
In the case of applicants other than an individual, the certified copy of the bye-laws of the organization has to be appended with the application
Detailed working of project cost, including capital expenditure, machinery, and building
Detailed report of the working capital cycle and requirement, in case the applicant wishes to avail working capital loan from the bank, without subsidy
KYC documents of individual applicant: Identification proof and Residential proof
Appropriate registration documents in case of non-individual applicants
Property documents of the proposed location for the coir manufacturing unit
Proof of coir industry experience
Certificate of EDP (Entrepreneurship Development Program) training
Industrial establishment certificate (Issued by DIC)
Plan and Estimate of civil construction work. The plan has to be certified by the Charter Engineer

Suggested Read : Documents Required for Business Loan

Eligible Entities under Coir Udyami Yojana

Applying for the Coir Udyami Yojana is extremely simple. You can avail the application form any of the below offices:

Coir Board Offices
District Industrial Center
Coir Project Offices
Panchayati Raj Institutions
Nodal offices approved by the coir board
Coir Board Website (Direct Download)

The duly filled application form along with necessary documents can be submitted to the Coir Board field offices or District Industrial Centres (DICs).

You can also apply for CUY scheme online by visiting its official website http://coirservices.gov.in/

Choose the scheme and click on 'Apply Online'. You will see a login window that will require your login details, if you are a registered user. If you are not registered user then click on 'New Login Registration'. After that you need to enter your basic details like full name, mobile number, email ID, Aadhar number, and security question and user name as per your preference. Finally, you can click on 'Confirm' to complete the registration process.

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FAQs

What is the importance of the Entrepreneurship Development Certificate?

Each applicant has to undergo the Entrepreneurship Development Program(EDP) to be eligible for the Coir Udyami Yojana. The applicant must undergo the training and produce the certificate to the competent authority before the coir board recommends the loan to the bank.

Are there any criteria to purchase the machinery for Coir Udyami Yojana?

The machinery purchased must meet the criteria and specifications as decided by the Coir Board. Since many coir projects are established in the rural sector, the applicant can also purchase the generator of appropriate capacity to keep the unit up during power shortages in the village.

How can I market coir products produced under Coir Udyami Yojana?

The government has allocated a dedicated budget to give widespread awareness of the coir products. Moreover, the coir board spends the budget to participate in the exhibitions to market the coir products. The board will handhold the applicant to market the products at reasonable rates.

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CUY Loan Scheme (Coir Udyami Yojana)

Eligibility Criteria for Coir Udyami Yojana (CUY)

Features & Benefits of Coir Udyami Yojana (CUY)

Documents Required for Coir Udyami Yojana

Eligible Entities under Coir Udyami Yojana

FAQs

What is the importance of the Entrepreneurship Development Certificate?

Are there any criteria to purchase the machinery for Coir Udyami Yojana?

How can I market coir products produced under Coir Udyami Yojana?

Business Loan Articles

What our customers say

Overview

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Talk to Expert

Talk to Expert

CUY Loan Scheme (Coir Udyami Yojana)

Eligibility Criteria for Coir Udyami Yojana (CUY)

Features & Benefits of Coir Udyami Yojana (CUY)

Documents Required for Coir Udyami Yojana

Eligible Entities under Coir Udyami Yojana

FAQs

What is the importance of the Entrepreneurship Development Certificate?

Are there any criteria to purchase the machinery for Coir Udyami Yojana?

How can I market coir products produced under Coir Udyami Yojana?

Business Loan Articles

What our customers say

Overview

Govt Schemes

Calculator

By Industries Type

Other Products

Bill & Recharge

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