MICRO CREDIT SCHEME        

 

Maximum Loan Amount

:

90% cost of project up to a ceiling of Rs 250,000

Interest Rate

:

3 % p.a.

Penalty Rate

:

2% p.a above normal interest rate

Repayment Period

:

Up to 5 years depending on projects

Moratorium

:

During gestation/implementation period

Eligibility

:

  • Individuals, Societies or Companies holding valid licences/permits
  • Registered local and export-oriented SMEs
  • Projects recommended by Economic Development Board  (Enterprise Mauritius, BOI), Tourism Authority, FAREI, SME Mauritius (SMEDA/MyBiz, NEF, National Women Entrepreneur Council) and other relevant institutions,
  • Small businesses holding a Business Registration Card

Agricultural Sector

:

  • Biofarming/Biotechnology/hydroponics/Sheltered structure/Tissue culture etc
  • Bee-hives
  • Dairy farming
  • Production of agricultural seedlings/production of agricultural seedlings with modern techniques
  • Storage of agro produce construction/modernisation of shed/store
  • Sugar cane – plantation, fine derocking, irrigation
  • Value added projects for abandoned sugar cane fields
  • Potato or onion cultivation
  • Fruit and flower - cultivation, fine derocking, irrigation
  • Vegetable plantation
  • Tea plantation
  • Crops damaged by climatic conditions, pests & diseases under rehabilitation 

 
Any other related activity

 

Fishing Sector

:

  •  Off-lagoon fishing - purchase of fishing vessel and engine/s
  • Aquaculture
  • Coral farming by fishermen 

 Any other related activity

Manufacturing Sector

:

  •  Manufacturing – production, transformation and processing, modernisation, working capital finance
  •  Company involved in export 

Any other related activity

Handicraft

:

Handicraft (locally manufactured), innovative products; any other related activity

Artists

:

  • Art - art exhibition, recordings, stage plays, publication of books; working capital

Any other related activity

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 SME FINANCING SCHEME

Loans which do not qualify under the Micro Financing Scheme and are above Rs250, 000 and up to Rs3.0 Million will be sanctioned under the SME Financing Scheme. 

 

Maximum Loan Amount

:

75% cost of project up to a ceiling of Rs 3M

Interest Rate

:

6 % p.a.

Penalty Rate

 

2% p.a above normal interest rate

Repayment Period

:

Up to 5 years depending on projects

Moratorium

:

During gestation/implementation period

Eligibility

:

  • Individuals, Societies or Companies holding valid licences/permits
  • In case of corporate bodies, guarantee of main promoter
  • Registered local and export-oriented SMEs
  • Projects recommended by Economic Development Board (Enterprise Mauritius, BOI), Tourism Authority, FAREI, SME Mauritius (SMEDA/MyBiz, NEF, National Women Entrepreneur Council) and other relevant institutions,
  • Small businesses holding a Business Registration Card

Agricultural Sector

:

  • Biofarming/Biotechnology/hydroponics/Sheltered structure/Tissue culture etc
  • Bee-hives
  • Dairy farming
  • Production of agricultural seedlings/production of agricultural seedlings with modern techniques//installation of  CCTV cameras with video surveillance system–
  • Storage of agri produce construction/modernisation of shed/store
  • Sugar cane – plantation, fine derocking, irrigation
  • Value added projects for abandoned sugar cane fields.
  • Potato or onion cultivation
  • Fruit and flower - cultivation, fine derocking, irrigation
  •   Vegetable plantation
  • Tea plantation
  • Crops damaged by climatic conditions, pests & diseases under rehabiliation –

Any other related activity

Fishing Sector

:

  •  Off-lagoon fishing - purchase of fishing vessel and engine/s
  •  Aquaculture
  • Coral farming by fishermen and SMEs – 

 Any other related activity

Manufacturing Sector

:

  •  Manufacturing – production, transformation and processing, modernization of production processes, working capital finance
  • Company involved in export 

 Any other related activity

Services Sector/ Professionals

:

Setting up, expansion, modernisation, computerisation, working capital finance;

Any other related activity.

Loan to contractors (who are regrouped under small association of contractors) for  completion of contract assigned to them by the government

Health Sector

:

Health – setting-up, expansion, refurbishment of clinics, pharmacies; any other related activity

Tourism Sector

:

Tourism – setting-up, expansion, modernisation/refurbishment of hotels/restaurants; any other tourism-related activity

Handicraft

:

Handicraft (locally manufactured), innovative products;

Any other related activity

Artists

:

  • Art - art exhibition, recordings, stage plays, publication of books; working capital

 Any other related activity

ICT Sector

:

  •  ICT - start-ups, expansion, modernization;
  •      E-commerce and other ICT-related projects;

 Any other related activity

Green and Renewable Energy

:

  • Setting up of Solar Panel (Photovoltaic system)
  • Solar System
  • Rain Water Harvesting System

 

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 Loan to Religious Bodies 


Purpose of Loan

:

Renovation and Refurbishment of places of worship

Maximum Loan Amount

:

6 times the annual grant received from the governing body to which the religious society is affiliated

Interest Rate

:

Up to Rs 500,000

0% p.a

Rs 500,001  to Rs 1,000,000

3%p.a

Penalty Rate

:

2% p.a. above normal interest rate

Repayment Period

:

Up to 5 years

Repayment Mode

 

Check off by governing body from grant money and remitted to DBM on a monthly basis

Project Costs

 

To be certified by the Executive Committee

Disbursement Conditions

 

Subject to progress of work certified by the Executive Committee of the religious society and site visit report

 

 

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 Normal Loan Scheme

 

Loans which do not fall under the Micro Credit Scheme and SME financing Scheme will be sanctioned under the normal loan scheme.  

 

Maximum Loan Amount

:

75% cost of project up to a ceiling of Rs 3M

For Computer Loan – 80% of Cost of Project up to a ceiling of Rs 50,000-

Interest Rate

:

10% p.a.

Penalty Rate

:

2% p.a above normal interest rate

Repayment Period

:

Up to 5 years depending on projects

Moratorium

:

During gestation/implementation period

Eligibility

:

(i) Individuals, Societies or Companies holding valid licences/permits

(ii) Registered local and export-oriented SMEs

(iii) Projects recommended by Economic Development Board (Enterprise Mauritius, BOI), Tourism Authority, SME Mauritius (SMEDA/MyBiz, NEF, National Women Entrepreneur Council) and other relevant institutions,

Small businesses holding a Business Registration Card

Trade Sector

:

Services - setting up, expansion, modernisation, computerisation, working capital finance;

Any other related activity

Transport Sector

:

Transport - purchase of public service vehicle (taxis, buses,

lorries, heavy plant and equipment etc);

Any other related activity

Construction Sector & Purchase of Land for agricultural/commercial purpose

:

Construction - purchase of land for commercial purpose, construction /purchase of commercial or office building;

Any other related activity

Computer Loan for individuals

:

Purchase of computer/laptops/ipad, smart phones, printers & assorted equipment 

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New Soft Loan Scheme for Planters under the Sugar  Planters Regrouping Project – SPRP

Maximum Loan Amount

:

Rs15,000 per Acre up to a maximum of Rs250,000

Interest Rate

:

0 % p.a

Repayment Period

:

5 years payable by five consecutive annual capital payments plus interest

 Eligibility

 

 Planters must be recommended by MCIA

Charges

 

All charges and interest will be borne by MCIA and the Government

 

 

 

 

 

 

 

 

 

 

 

 

Useful links

SMEDA: http://www.smeda.mu                      MBGS: http://mbgs.govmu.org                  MEF: http://www.mef-online.org