Department of financial services launches Start-up Common Application on Jan Samarth portal

New Delhi: In a boost for startups, the department of financial services (DFS) under the finance ministry, has launched the Startup Common Application Journey on the Jan Sammarth portal on Wednesday.

Backed by a model loan scheme, the initiative provides loans up to ₹20 crore under the Credit Guarantee Scheme for Startups which is under the Department for Promotion of Industry and Internal Trade. The platform integrates data sources such as PAN, GST, Udyam, ITRs, and credit bureaus, ensuring faster processing and greater transparency. Special interest concessions are also extended to women entrepreneurs and promotes inclusivity.

The Jan Samarth portal launched in June 2022 is a one-stop digital platform that connects beneficiaries with credit-linked government schemes, making it easier to apply for and process loans.

The application form was launched by M. Nagaraju, secretary, DFS. The Startup Common Application journey was developed by the Indian Banks’ Association in collaboration with PSB Alliance.

The Jan Samarth portal provides a single digital platform for startups to access credit across all PSBs. It now enables even start-ups to apply for loans, compare offers and track their applications seamlessly through a unified digital journey.

This launch marks a major step towards building a collaborative, technology-driven ecosystem for India’s growing startup sector, reinforcing the government’s commitment to empowering entrepreneurs in alignment with the vision of Viksit Bharat 2047, the finance ministry said in a statement.

Under the scheme, credit will be provided to startups under government guidelines. The startup should not have been in existence more than 10 years and/or turnover should not exceed ₹100 crore.