Translate

Loan for women entrepreneurs

Home > Digital Ecosystem > II. Mentorship > Enlightener Series > Loan for women entrepreneurs

Status: Active

Classification: Central Government Schemes

Release Date(s):
4th March 2023
3rd December 2021

Offering: Loan/Credit

Entity Type: NBFC

Reading Time: 4 Mins

Ticket Size: Upto ₹11.25 Lakhs

Entity Name: North Eastern Development Finance Corporation Ltd.

#Views: 57

Disclaimer….before you read ahead!
The information contained herein is of a general nature and for information purposes only, with the intent of raising awareness around various resources, schemes etc. available for women entrepreneurs in India. It is not intended to address the circumstances of any particular individual or entity. It does not purport to be all-inclusive or necessarily contain all the information that may be relevant for the reader, and may be subject to updation, revision or amendment. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to remain accurate in the future. The reader, therefore, is required to exercise their discretion; and not act on such information without appropriate professional advice after a thorough examination of the particular situation.

Furthermore, we are not a lender and are not authorized by the Reserve Bank of India to act as one. By disseminating the information contained herein, we are not soliciting any borrower or customers for the company or organization mentioned herein nor do we intend to syndicate any capital for the reader of this email.

 

About this scheme…

Loan for Women Entrepreneurs Scheme was launched in November 2003 by North Eastern Development Finance Corporation Ltd (NEDFi) with the aim of providing financial assistance exclusively to women entrepreneurs in north-eastern states for taking up new business ventures or expansion, modernization and diversification of existing business ventures.

NEDFi is a Public Finance Institution (PFI) that operates through 20 branches and 14 representative offices in 8 north-eastern states of India namely, Assam, Arunachal Pradesh, Meghalaya, Mizoram, Manipur, Nagaland, Sikkim, and Tripura

 

How is it being implemented?
Under the Loan for Women Entrepreneurs Scheme, direct financial assistance in the form of loans is given to

  • Women entrepreneurs operating micro, small or medium enterprises in manufacturing, services, handloom, handicrafts, agriculture & allied, retail, and food processing industries

 

What’s on offer?

I. Product

  • Term loan of upto 75% of project cost upto a maximum of ₹11.25 Lakhs
  • Project cost (including working capital) should not exceed ₹15 Lakhs
  • No Detailed Project Report required

II. Purpose:

  • Acquisition of fixed assets
  • Working capital requirements

III. Borrower Type:

  • Sole Proprietorship, Partnerships, Limited Liability Partnerships, Private Limited Companies

IV. Security or collateral or Guarantee or Insurance

  • Collateral security:
    • Hypothecation of current assets of the unit
    • Additional security as per availability
  • Guarantee:
    • Personal Guarantee of the Promoter(s)
    • Corporate Guarantee of Group companies, If applicable
  • For information around primary security and insurance, please contact NEDFi via means mentioned below

V. Interest Rate

  • 8% per annum

VI. Processing Fee

  • 1%

VII. Margin Money Requirement

  • 25%

VIII. Tenure, Repayments & Pre-Closures

  • Tenure: upto 84 months, including moratorium up to 6 months
  • For information on repayments, pre-closures, please contact NEDFi via means mentioned below

IX. Turnaround Time

  • For more information on turnaround time, please contact NEDFi via means mentioned below

 

Interested? Read ahead to check your eligibility….

I. Are you a skilled woman entrepreneur falling in the age group of 18-50 years?

II. Is your business a micro, a small or medium enterprise (MSME) operating in manufacturing, services handloom, handicrafts, agriculture & allied, retail, or food processing industries?

If your answers to the questions above are an emphatic YES, you are all set to avail loan under NEDFi’s Loan for Women Entrepreneurs!

 

So…how big is this scheme and what has been done so far?

I. Details for NEDFi’s Loans for Women Entrepreneurs do not seem to be available in the public domain

 

So, now, how should you go about it?

I. For submitting application:

OR

II. For information on loan application & list of documentation required, please contact at any one of NEDFi’s 20 branches or 14 representative offices across 8 north-eastern states. Please find their address and contact details here

III. For any queries, contact NEDFi

  • Via their helpline number +91-361-222 2200

OR

 

Go on then…and do spread the word!

 

Sources:

  1. About the Scheme
  2. NEDFi’s Annual Report 2021-22
  3. About Launch Date of the Scheme

Did you find this article helpful?

Or

Latest in Enlightener Series

0
0
0
0
error: Content is protected!!

Join our exclusive community for Women Entrepreneurs (& aspiring ones!)

To join our WhatsApp Community, click 👉 https://chat.whatsapp.com/JyWvBECvQcB5Z7mnciPUzK To join our Telegram Community, click 👉 https://t.me/+692akHHVXj00MjY1 To join our Mailing List, click 👉 https://www.surveymonkey.com/r/46XXMailingList To join our Social Media Community, click 👉https://linktr.ee/team46xx
We will confirm.