Interest Subsidy Reimbursement Scheme

Key Features

• Interest Subsidy Support - The scheme reimburses a portion of the interest paid by startups on loans obtained from banks or financial institutions. This helps reduce financing costs and improves financial sustainability during the early stages of business growth.
• Support for Institutional Borrowing - Startups often rely on bank loans to fund infrastructure, technology, or product development. This scheme encourages startups to access formal financial institutions by providing partial reimbursement of interest payments.
• Subsidy up to ₹2 Lakh per Year - Eligible startups can receive reimbursement up to ₹2 lakh annually on the interest paid for loans, making borrowing more affordable.
• Maximum Support Period of Three Years - The subsidy can be claimed for a maximum period of three years, enabling startups to stabilize financially during their initial growth phase.
• Approval by Startup Promotion Cell - All applications are reviewed by the Startup Promotion Cell (SPC), which verifies eligibility, loan details, and interest payments before approving the subsidy.

Financial Assistance

Eligibility Criteria

To avail benefits under the Interest Subsidy Reimbursement Scheme:

• The applicant must be a startup certified by the Startup Promotion Cell (SPC) under the Goa Start-up Policy.
• The startup must be operating in Goa.
• The loan must be obtained from a scheduled bank or financial institution.
• The bank accounts of directors must be linked to Aadhaar.
• Only interest payments made after the notification of the Goa Start-up Policy 2017 are eligible.
• The startup must submit proof of loan sanction and interest payment.
• Benefits are subject to approval by the Startup Promotion Cell (SPC).

Documents Required

• Startup Certificate issued by Startup Promotion Cell (SPC)
• Loan Sanction Letter from the bank or financial institution
• Interest Payment Certificate from the bank
• Proof of Interest Payment (bank statements or receipts)

Application Process

Option 1: Apply with Bullit, Recommended

Start instantly with our guided application support, where our team verifies eligibility, prepares documentation, and coordinates with the Industries Department on your behalf. Using our business loans and compliance calendar, you can track progress while focusing on project execution, we manage the application end-to-end.

Option 2: Apply Online / Offline (Government Process)

1. Submit Application to SPC - Startups must submit the claim incentives application form along with required supporting documents to the Startup Promotion Cell (SPC) through email or the official web portal.
2. Application Verification - The Startup Promotion Cell verifies the loan details, interest payments, and supporting documents.
3. Evaluation and Approval - The SPC evaluates the claim and decides whether to approve or reject the application.
4. Sanction Order - If approved, the sanction order is issued within 45 days from the date of application approval.
5. Disbursement of Subsidy - The approved subsidy amount is disbursed within 60 days from the date of approval.