What this scheme offers
Named after the social reformer who championed farmer and worker rights, this scheme addresses a specific credit gap: Maratha and other open-category residents of Maharashtra who don't qualify for caste-based reservation loan schemes, but still struggle to get conventional bank credit without collateral or a financial track record. Rather than lending directly, the Mahamandal acts as a guarantor and pays the interest subsidy on a bank loan as long as the borrower keeps up regular repayment — reducing the effective cost of borrowing close to zero for a genuinely repaid loan. Exact loan ceilings are reported inconsistently across sources (from ₹10 lakh to ₹50 lakh); confirm the current limit directly with the Mahamandal or on the portal before applying.
Who is eligible
- Resident of Maharashtra, generally from the Maratha community or open/general category.
- Age typically 18–50 years (confirm current band on the portal).
- Family annual income within the limit prescribed by the Mahamandal.
- A viable business plan or existing business to expand.
- No default history on any previous government loan scheme.
Documents required
- Aadhaar card
- Income certificate
- Domicile certificate
- Business plan / project report
- Bank account details
How to apply
- Apply online through the Maharashtra Udyog portal (udyog.mahaswayam.gov.in) or directly through the Annasaheb Patil Mahamandal's own portal.
- Submit your business plan along with income and identity documents.
- The Mahamandal reviews the proposal and, if approved, issues a loan guarantee/interest-subsidy sanction letter.
- Take this sanction to an empanelled bank to process the actual loan.
- As long as you repay on schedule, the Mahamandal credits the interest subsidy amount to your account periodically — missed repayments can affect subsidy eligibility.