Yes, it is true. Funding is not a problem for One Person Company (OPC) subject to if you have a good business idea and business plan.
The Reserve Bank of India (RBI) has instructed banks to increase the funding made to priority sectors, viz agriculture and small scale industries. Eligible priority sector lending:
Investment in Plant & Machinery
Do not exceed 25 lakhs rupees
More than 25 Lakhs but does not exceed 5 crores
Do not exceed 10 lakhs rupees
More than 10 Lakhs but does not exceed 2 crores
One Person Company coming under any of above category may fall under priority sector lending. There is enormous scope for One Person Companies to leverage benefits of priority sector lending.
Further, there are some additional benefits:
Therefore, doesn’t worry about the funds, just concentrate on your core business idea, and evolve it into a plan, incorporate a One Person Company (OPC) with QuickCompany.in and start your business today!