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Objective
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Financing Individual women SHG members for Entrepreneurial activity
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Nature and
purpose of
advance
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Term loan and working capital facility for the below mentioned activities:
(i) Mushroom cultivation (ii) High value crop cultivation in green house/ poly house, floriculture etc. (iii)Allied activities like dairy, poultry, sericulture, pisciculture, Goat & sheep rearing etc. (iv)Beauty parlour and salon services (v) Tailoring shop (vi)Rural eco- tourism (vii)Restaurant (viii) Internet café and photocopy (ix) Confectionary shops including soft drinks (x)Groceries/stationary shops (xi)Fruits and vegetables shop (xii)Cosmetic shop (xiii)Papad / Traditional snacks (xiv)Flour mill (xv) Oil processing units (xvi) handicrafts, weaving, textile bags, covers, baskets etc. (xvii) Pottery & ceramics (xviii) Artificial jewellery making unit (xix) Bangles - Glass and lac items (xx) Agarbathi /candle making unit (xxi) Soap making/liquid soap/ detergent/ washing soap (xxii) metal and cane products (xxiii) Hosiery unit (xxiv) Sanitary towels/napkin manufacturing unit (xv) Paper plates/ cups/ glass manufacturing (xvi) Agri clinic and Agri Business center
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Quantum of loan
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Minimum: Rs.75,000 and above/-
Maximum: Rs. Up to Rs.10,00,000/-
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Eligibility
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Parameter
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Loan above Rs. 75000 to Rs. 2 Lakhs
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Loan above Rs. 2 Lakhs to Rs. 5 Lakhs
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Loan above Rs. 5 Lakhs to Rs. 10 Lakhs
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Age
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21 to 60 years (60 at the end of loan tenure)
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21 to 60 years (60 at the end of loan tenure)
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21 to 60 years
(60 at the end of loan tenure)
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SHG eligibility
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2 years old and 1 successful bank loan cycle completed
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3 years old and 2 successful bank loan cycle completed
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3 years old and 2 successful bank loan cycle completed
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Membership vintage in SHG
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At least 1 loan cycle with SHG and 2 years membership
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At least 2 loan cycle with SHG and 3 years membership
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At least 2 loan cycle with SHG and 3 years membership
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Member's minimum loan (last loan serviced by the member)
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Rs.25000
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Rs.40000
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Rs.40000
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Business Vintage
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2 years of viable business
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3 years of business experience
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3 years of viable business
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Co Applicant
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Not required
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Required in registered entities
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Required in registered entities
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Additional points to be checked
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Last 24 months records with SHGS for repayment and proper financial analysis be done.
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Security
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Prime security:
Hypothecation of assets created out of bank finance.
Collateral Security: NIL
No Collateral security or third-party guarantee will be obtained since the loan is covered under Credit Guarantee scheme.
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Margin
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10% of project cost
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Repayment
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60 monthly installments including moratorium period
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Holiday period
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Maximum 12 months
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Rate of Interest
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For Agriculture and allied activities
Up to Rs.10.00 lakhs: 1 YMCLR +0.20(SP)+1.80(RP)
For MSME activities including processing units
Up to Rs.10.00 lakhs: RLLR+0.40(SP)+1.35(RP)
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Processing charges
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0.40% of the limit sanctioned plus applicable GST.
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Other Conditions Apply
*For more details, please contact our nearest branch
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