For an aspiring entrepreneur in India, setting up a medical store requires a well-structured project report to secure a ₹10 lakh bank loan. This page details a comprehensive project report for a medical store under NIC code 47721, covering a loan amount of ₹10 lakh with a promoter margin of ₹1 lakh and a term loan of ₹9 lakh. The EMI at 11% over 7 years is approximately ₹15,410 per month. Eligible schemes include MUDRA Kishor (₹5-10 lakh) and MUDRA Tarun (₹10-20 lakh), with CGTMSE collateral-free coverage up to ₹2 crore. A bank-ready project report includes CMA data, DSCR calculations (typically above 1.5), and 5-year financial projections. This document is crucial for loan approval, subsidy applications, and demonstrating business viability to lenders.
To apply for a ₹10 lakh medical store loan, the applicant must be an Indian citizen aged 18-65 with a viable business plan. The MUDRA scheme offers two relevant categories: MUDRA Kishor (loans from ₹5 lakh to ₹10 lakh) and MUDRA Tarun (₹10 lakh to ₹20 lakh). Since your requirement is exactly ₹10 lakh, you can opt for MUDRA Tarun for higher flexibility or MUDRA Kishor if you need only up to ₹10 lakh. CGTMSE provides collateral-free coverage up to ₹2 crore, making it ideal for first-time entrepreneurs. Additionally, PMEGP offers subsidies for new businesses, but it requires a project cost up to ₹25 lakh in the manufacturing sector and ₹10 lakh in the service sector (medical store is service). Check local DIC for PMEGP eligibility.
The total project cost for a medical store is ₹10 lakh, with a promoter contribution of ₹1 lakh (10%) and a term loan of ₹9 lakh (90%). The loan tenure is 7 years at an interest rate of 11% per annum, resulting in an EMI of ₹15,410. The fund utilization includes: ₹3 lakh for furniture and fixtures (counters, shelves, display units), ₹2 lakh for computer and billing software, ₹1 lakh for initial stock of medicines (controlled drugs require additional licenses), ₹1.5 lakh for air conditioning and refrigeration (for temperature-sensitive drugs), ₹1 lakh for signage and interior, and ₹1.5 lakh for working capital. Ensure you have GST registration and drug license (Retail Drug License from state FDA) before applying.
For a ₹10 lakh MUDRA/CGTMSE loan, submit: KYC documents (Aadhaar, PAN, Voter ID), business address proof (rent agreement or ownership), drug license (Retail Drug License under Drugs and Cosmetics Act), GST registration certificate, and a detailed project report with CMA data. Financial documents include last 2 years' ITR (if applicable), bank statements for 6 months, and a projected profit & loss statement for 5 years. For CGTMSE, no collateral is needed, but you must provide a business plan and personal guarantee. If applying under PMEGP, include a project profile and margin money subsidy application (15-35% subsidy based on category).
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Financing structured for a ₹10 Lakh medical store: margin, term loan & EMI.
Scheme-ready for MUDRA Kishor, MUDRA Tarun, CGTMSE.
Exact means of finance, CMA, DSCR ≥ 1.50 in the generated report.
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Indicatively ≈ ₹15,410/month on the ~₹9 Lakh term-loan portion (at 11% over 7 years), with ~₹1 Lakh promoter margin. The report computes exact figures.
Banks typically expect ~10% margin — about ₹1 Lakh for a ₹10 Lakh project — plus any scheme subsidy.
MUDRA Kishor, MUDRA Tarun, CGTMSE fit this range. The report is configured to your chosen scheme.
The EMI is approximately ₹15,410 per month. This is calculated using the formula: EMI = P × r × (1+r)^n / ((1+r)^n - 1), where P=₹9,00,000 (loan amount after margin), r=11%/12=0.009167, n=84 months.
Yes, PMEGP provides subsidy of 15-35% of the project cost for new businesses. For a ₹10 lakh medical store, the subsidy ranges from ₹1.5 lakh to ₹3.5 lakh, depending on the applicant category (general, SC/ST, OBC, etc.). However, the project cost limit for service sector is ₹10 lakh, so you are eligible. Apply through your local DIC.
CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises) provides collateral-free coverage up to ₹2 crore. For a ₹10 lakh loan, the guarantee covers up to 85% of the loan amount, meaning the bank does not require any tangible collateral. This is especially beneficial for first-time entrepreneurs without property to pledge.
A bank-ready project report should include: executive summary, business profile, market analysis (demand for medicines in your locality), technical details (location, layout, equipment), financial projections (5-year P&L, balance sheet, cash flow), CMA data (current ratio, DSCR, debt-equity ratio), and repayment schedule. Ensure DSCR is above 1.5. Use NIC code 47721 for medical store. You can hire a CA or use online templates.