MSE–GIFT term loan
Finance chargers, electrical infrastructure and eligible equipment with a 2% interest reduction.
₹25L–₹2Cr target range
Partner decision brief · 11 August 2026
Funding India’s next
charging network.
A ranked view of Central Government funding routes for E‑Nova — a new partnership building an EV-charging business.
13schemes screened
4immediate routes
₹2 Crpreferred green loan ceiling
3-steprecommended capital stack
01 / Recommendation
The clearest route is a blended capital stack.
Use the scheme that matches each phase instead of forcing the full business into one application.
Guarantee cover
Ask the lender to use MSE–GIFT risk sharing or CGTMSE. The same exposure generally cannot use both.
75% typical cover
PM E‑DRIVE tender
Bid as a Charge Point Operator at government, PSU, transport, highway or municipal locations.
80–100% eligible infra support
Pilot alternative
If the first site is below ₹10 lakh, MUDRA Tarun may be faster and simpler than a larger structured facility.
02 / Scheme ranking
What is useful now — and what is not.
Rank & schemeFinancial supportPartnership fitDecision
01
ActiveExcellent EV fit
MSE–GIFT
2% annual interest subvention on term loans up to ₹2 crore, plus 75% credit-guarantee coverage.
Yes — Udyam registration required.
The strongest direct fit. EV charging stations are explicitly covered under clean transportation.
Source ↗02
IndirectExcellent EV fit
PM E‑DRIVE — Charging Infrastructure
80–100% support for upstream infrastructure; 70–100% for charging equipment at qualifying government-controlled sites.
Indirect — participate as a selected Charge Point Operator.
Potentially the largest capex benefit, but E‑Nova must win or join a government, PSU or nodal-agency project.
Source ↗03
ActiveHigh EV fit
CGTMSE Credit Guarantee
Collateral-free credit support up to ₹10 crore; usually 75% guarantee, rising to 90% for women-led MSEs.
Yes — for a Udyam-registered micro or small enterprise.
Best general bank-loan route when the requirement is larger than MUDRA. Ask the lender to place the facility under CGTMSE.
Source ↗04
ActiveHigh EV fit
Pradhan Mantri MUDRA Yojana
Collateral-free term loan or working capital. A new borrower can seek up to ₹10 lakh under Tarun.
Yes — partnership service enterprises are covered.
The practical pilot route for a small first site. Tarun Plus up to ₹20 lakh is only for successful previous Tarun borrowers.
Source ↗05
ActiveHigh EV fit
Credit Guarantee Scheme for Startups
Debt up to ₹20 crore; 85% guarantee up to ₹10 crore and 75% above ₹10 crore.
Yes — with DPIIT Startup recognition.
Best positioned for a proprietary platform, smart load-management product or scalable charging network — not a plain outlet.
Source ↗06
ActiveHigh EV fit
NIDHI–PRAYAS 2.0
Prototype funding up to ₹20 lakh, or up to ₹40 lakh through Advance PRAYAS Centres for deep-tech work.
Yes — innovators and startups apply through PRAYAS Centres.
Use only if E‑Nova is developing original charger hardware, power electronics, diagnostics or energy-management technology.
Source ↗07
ActiveMedium EV fit
MSME Innovative — Incubation
Up to ₹15 lakh per approved idea, routed through an approved Host Institute.
Yes — an individual or registered MSME can be an incubatee.
Useful for a smart-charging or solar-storage prototype; the grant is administered by the incubator, not paid as unrestricted cash.
Source ↗08
ActiveMedium EV fit
Mutual Credit Guarantee Scheme for MSMEs
60% guarantee for equipment loans up to ₹100 crore; equipment must form at least 60% of project cost.
Yes — service-sector MSMEs are included.
A later-stage option for a large, equipment-heavy charging network. It is oversized for a first station.
Source ↗09
IndirectMedium EV fit
Startup India Fund of Funds 2.0
₹10,000-crore national corpus deployed through SEBI-registered venture funds; no fixed company-level grant.
Technically possible, but institutional investors normally prefer a private limited company.
Relevant only after product-market evidence. E‑Nova would approach participating AIFs, not the Government directly.
Source ↗10
IndirectMedium EV fit
Self-Reliant India Fund
Government-backed Fund of Funds targeting ₹50,000 crore of equity mobilisation for growth-ready MSMEs.
MSMEs qualify, but investments come through private daughter funds.
Consider after E‑Nova proves station economics and has a credible multi-location expansion plan.
Source ↗11
ActiveLow EV fit
PMEGP
For services: project cost up to ₹20 lakh with a back-ended subsidy of 15–35%, depending on category and location.
Weak fit — the current new-unit framework is individual-beneficiary oriented.
Potentially attractive, but obtain written KVIC/DIC confirmation before using it for an existing partnership structure.
Source ↗12
PendingLow EV fit
Stand-Up India / Replacement Scheme
The former ₹10 lakh–₹1 crore programme ended in March 2025; a replacement of up to ₹2 crore was announced.
Former scheme required 51% ownership and control by a woman or SC/ST entrepreneur.
Do not include it in the funding plan until fresh operational rules and an application route are formally issued.
Source ↗13
ClosedLow EV fit
Startup India Seed Fund Scheme
Previously offered up to ₹20 lakh as grant and up to ₹50 lakh as debt or convertible support.
Registered partnerships were eligible with DPIIT recognition.
Fresh applications closed on 31 May 2026. Keep on the radar only in case a successor programme opens.
Source ↗Ranking assumes a new registered partnership, a service-led EV charging model, no operating history, and an initial funding need of ₹10 lakh–₹2 crore.
Suggested bank request
“We seek a term loan for an Udyam-registered EV-charging service enterprise under MSE–GIFT, including eligible chargers, electrical infrastructure and installation, with the 2% interest subvention and applicable credit-guarantee cover.”