Get Loan up to Rs. 90 Lacs under Bihar State Credit & Investment Corporation

There is an entrepreneur hidden in each one of us.

At some point of time, almost everyone has had an idea which could change the world. But just having an idea is certainly not enough; to materialize that idea into reality comes the main hurdle-a hurdle where many business ideas fall short because of various reasons but mainly because of lack of investment or funding. India in recent times is witnessing a boom in the startup/SME/MSME genre all thanks to various government policies, both central and states.

In a bid to financially assist various entrepreneurs to set up their own business ventures the state government of Bihar provides various schemes. Simultaneously there are many state government undertakings those who provide necessary assistance as well such as BICICO (Bihar State Credit & Investment Corporation Ltd.). BICICO provides financial assistance to tiny and small enterprises, MSMEs and large ventures since 1975.

BICICO provides financial assistance under the following schemes:

Normal Term Loan-

  • Amount of loan- Under this scheme, an individual can get loan up to a maximum of Rs. 90 lacs to set up industrial unit in MSME/SME sector.
  • Duration of repayment- Generally a person can repay the loan he/she has taken within 8 to 10 years period of time.

Equipment Financial Scheme

  • For whom- This scheme is for any industrial unit who has been into operation for at least 4 years and running the operation in profit for at least 2 continuous financial years.
  • Amount of loan- Such units may avail term loan up to a maximum of Rs. 90 lacs at an interest rate of 15.5% (PLR) for acquisition of machineries or to balance equipments.
  • Duration of Repayment- The unit can repay loan within 5 years.

(PLR- Prime Lending Rate) 

 How to avail?

To avail above mentioned loans, one needs to submit his/her applications in triplicate (for Normal term Loan) and in duplicate (for Equipment Finance scheme) in the prescribed application forms along with copy of project reports to the BICICO. Address is given here.

(Note: For Normal term Loan; the form can be obtained from the Industrial Promotion Division by paying Rs. 400/- by Cash/DD/Money Order in favour of “Bihar state Credit and Investment Corporation Ltd”, payable at Patna. However, form for Equipment finance Scheme is available free of cost.)


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