The following are the details of financial assistance available under .

Eligible loan Promoters equity Loan given by Security
INR 25.00 lakhs :

10%

Special (including / ST /
OBC /Minorities/Women, Exservicemen,
Physically
handicapped, NER, Hill and
Border areas etc:

5%

Urban : 15%

Rural: 25%

Special (including / ST /
OBC /Minorities/Women, Exservicemen,
Physically
handicapped, NER, Hill and
Border areas etc.

Urban : 25%

Rural: 35%

Any Public Sector Bank or Private Scheduled Bank at their discretion based on the project viability. Nil up to INR 5.00 lakhs

Covered under CGF above INR 5.00 lakh and up to INR 1.00 crore.

Under CGF no security required up to INR 1.00 crore.

Banks at time might demand depending upon the merits and demerits of the project.

Service INR 10.00 lakhs

Required enclosures along with application:

  1. Project report of the activity
  2. Attested copy of OBC / ST / Minority / PHC / Ex-servicemen certificate.
  3. Attested copy of the educational qualification, experience, training certificate if any.
  4. Attested copy of EDP training [for a minimum period of 2 weeks] certificate, if any.
  5. Affidavit in bond paper costing Rs. 15/-
  6. Consent letter from Bank, if available.
  7. No objection from Gram Panchayat, if applicable

The procedure:

  • All the loan applications received under scheme will beĀ  placed before the District Level Task Force Committee [DTFC] under the Chairmanship of the Deputy Commissioner of the concerned District from time to time.
  • The DTFC is conducts personal interview of the applicants and recommends the deserving cases on the basis of the viability of the project to the concerned banks.
  • The recommended cases will be sponsored to the concerned banks for consideration of finance under the captioned scheme.
  • The bank will sanction 90% of the project cost in case of and 95% of the project cost in case of Special category of beneficiary / institution and recommend their cases to the KVIB for arranging 2 weeks duration compulsory EDP training.
  • KVIB will arrange EDP training. Once the beneficiary undergone EDP training, the bank will disburse full amount suitably for setting up of project.
  • Once the 1st installment of bank finance is released, the bank will submit margin money claim in the prescribed proforma [which is 25% of the project cost in case of and 35% of the project cost in case of Special category] to the designated Nodal Banks.
  • Once the margin money is released in favor of the loanee, it should be kept in the term deposit receipt of 3 years at branch level in the name of the beneficiary / institution. During this period, no will be paid on the TDR and no will be charged on loan to the corresponding amount of the TDR.
  • The margin money component [back ended ] will be credited to the borrowers loan account after 3 years on the basis of 100% Physical Verification Report of the said unit.
  • 100% Physical Verification of the actual establishment and working status of the units, setup under will be done by KVIC.

May also check for Credit Guarantee Fund scheme details in the other posting.