Financial Assistance

Aspiring entrepreneurs are assessed for the viability of their business idea, the employment and growth potential of the proposed ventures, etc. The business proposals are scrutinised for their completeness by the field officers, followed by checking referrals, visits to the site of business, in case of entrepreneurs having made some beginning with their ventures. In addition, an experienced technical expert tests the prospective entrepreneurs for their technical competence in the proposed line of business. This not only helps in screening of the entrepreneurs but also in fine-tuning their proposals. The technical evaluators give many useful ideas and suggestions.

Home visits of potential entrepreneurs helps to verify the underprivileged economic status and see that they qualify for the support.

After the initial screening by BYST field officers, the young entrepreneurs go through an Entrepreneur Selection Panel. The IESP (expert group) comprises experienced business people, bankers, consultants and NGO representatives. They assess each business proposal in terms of its viability, working capital requirements, profitability and growth potential of the business. The technical evaluation and the site-visit reports are reviewed by the Panel before taking a final decision on the sanction.

BYST has partnered with a wide range of financial service providers (banks) who cater to young entrepreneurs. This model brings synergy in the initiatives and capacities of the various stakeholders, towards enhancing enterprise development through loan money and mentoring. BYST is implementing a model under which banks and financial institutions fund the entrepreneurs without any third party guarantee or collateral, while BYST provides handholding support and business development services. The security for the banks is the guarantee cover under the CGTMSE scheme (for only servicing and manufacturing) & MUDRA loan guarantee scheme.