Karnataka Minorities Development
Corporation Limited

Government of Karnataka

Direct Loans For Business - Enterprise

Direct Loans For Business / Enterprise

Under this scheme, Loan will be provided to eligible entrepreneurs to start or expand their businesses by mortgaging property (building or land).

Eligibility Criteria:

  1. Applicant should be resident of Karnataka state
  2. Applicant should belong to a minority community
  3. Applicant Age should be between 18 to 55 years
  4. Applicant should not be defaulter of K.M.D.C.
  5. Loans will be provided only on mortgage of property (building/land) to the corporation. The value of the property should not be less than the loan amount.
  6. Business/Enterprise Loan will be given to only one member of a family
  7. If applicant's family income is below Rs 8.00 lakhs, then the loan will be provided upto Rs 20 lakhs on 4% interest rate
  8. If applicant's family income is Rs 8.00 lakhs to 15 lakhs, loan will be provided upto Rs 20 lakhs on 6% interest rat


1.Copy of Aadhaar as residential proof
2.Caste Certificate Issued by the competent authority
3.Income Certificate Issued by the competent authority
4.Lease deed/Partition deed/Release deed/Gift deed/Rental agreement/Sale deed of property
5.Project report/Profile of activities from CA(Chartered Accountant)
6.Quotations related to the project
7.License from respective authorities with respect to property proposed to be mortgaged
8.Building's Khata extract and Khata certificate or land's Mutation copy.
9.Phodi/Partition deed with respect of revenue lands and phani-RTC
10.Encumbrance Certificate-(EC)/Form No.15
11.Up to date tax paid receipt from the local bodies
12.Guidance value of the land from competent authority
13.No objection from the family members to pledge the title deed, with family tree
14.In case of building,Valuation report by registered valuer- Valuation Certificate
15.Self declaration

Documents After Selection:

1. Committee approval order
2. Affidavit from Applicant
3. Joint Affidavit from the Beneficiary & the Guarantor4.
4. Demand Promissory Note (DPN)
5. Hypothecation & Mortgage Deed
6.Letter of Repayment
7.Letter of Guarantee
8.Loan Agreement
9.Consideration Receipt
10.Acknowledgement debt from Borrower
11.Acknowledgement debt from Guarantor
12.Memorandum of deposit of title deeds/equitable mortgage deed
13.Blood Relations Power of Atorny (if the property not in applicant name)