Short Term Financial Assistance To Good Borrowers
in Puducherry
Last updated:
Short Term Financial Assistance To Good Borrowers in Puducherry
Short Term Financial Assistance To Good Borrowers is a government scheme available to eligible residents of Puducherry.
Apply for Short Term Financial Assistance To Good Borrowers in Puducherry
Scheme Overview
The scheme aims to meet short term financial requirements related to executing specific orders, seasonal fund increases, or firm export orders. Benefits include loans ranging from ₹5,00,000/- to ₹50,00,000/-, primarily targeting existing Medium Scale Industry and Small Scale Industry units.
Eligibility Criteria
- Existing units of MSI and SSI classified as A and B Category.
- Existing Good Borrowers who have repaid 30% of the Principal amount. Units assisted by other financial institutions / Banks. Group concerns of the Clients of the Corporation, with an excellent track record of 4 years and operating on Profitable lines.
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Benefits
The minimum loan limit available is ₹5,00,000/-.
The maximum loan limit available is ₹50,00,000/-.
The intended use of the funds is to meet short term financial requirements. This includes meeting the requirements of executing specific orders, seasonal increase in fund requirements, and firm export orders.
100% of the loan amount shall be released immediately after completion of documentation and fulfilling the other norms of the Corporation.
The loan repayment period for amounts up to ₹10,00,000/- is 12 months.
The loan repayment period for amounts above ₹10,00,000/- up to ₹25,00,000/- is 18 months.
The loan repayment period for amounts above ₹25,00,000/- up to ₹50,00,000/- is 24 months.
The applicant must offer collateral security for a value of 150% of the term loan.
If the applicant is a non-assisted unit, the quantum of loan will be decided based on the merits of the individual case and the security offered.
Required Documents
| # | Document |
|---|---|
| 1 | Copy Of Acknowledgement Of Micro, Small, And Medium Enterprise Registration Certificate Obtained From Industries Department. |
| 2 | Copy Of Partnership Deed And Acknowledgement Of Registrar Of Firms (In The Case Of Partnership Concern). |
| 3 | Copies Of Pan Card, Voter's Identity, Ration Card, Aadhaar Card, And Bank Pass Book (For All Promoters). |
| 4 | Bio-Data Of All The Promoters (Duly Filled In All Respect As Per The Format Enclosed). |
| 5 | Balance Sheet And Profit And Loss Account For Last 3 Years And Bankers Details (For Interested Concerns Or Existing Units). |
| 6 | Consent Letter To Offer Collateral Security To The Extent Required By Pondicherry Industrial Promotion Development And Investment Corporation Limited. |
| 7 | Detailed Project Report On The Project (Required For Loan Amounts Above ₹25,00,000/-). |
| 8 | Details Required In The Application At Page Numbers 12, 13, 14, And 15 (To Be Furnished Compulsorily To Prepare The Appraisal Report). |
| 9 | Track Record, Name And Address Of Concerns, And Type Of Consultancy Service Rendered By The Consultant (If Any) (Required For Loan Amounts Above ₹25,00,000/- Or Group Concerns). |
| 10 | Details Of Effluent And Arrangement Proposed For Treatment And Disposal Of Effluent (If Any During Process) (Required For Loan Amounts Above ₹25,00,000/-). |
| 11 | Original Title Deed. |
| 12 | Antecedent Title Deeds. |
| 13 | Encumbrance Certificate For 30 Years. |
| 14 | Valuation Certificate (Obtained From Approved Panel Valuer Of Pondicherry Industrial Promotion Development And Investment Corporation Limited). |
| 15 | Field Measurement Book Copy (FMB Copy). |
| 16 | Patta Copy. |
| 17 | Legal Opinion Report For Collateral Security Property. |
How to Apply in Puducherry
User Manual: https://pipdic.in/uploads/PIPDIC_docs/user_manual.pdf How to Apply: https://pipdic.in/how_to_apply Applicant Login: https://pipdic.in/customer_login Application Link: https://pipdic.in/forms Grievance Form: https://pipdic.in/grievance…
Online User Manual: https://pipdic.in/uploads/PIPDIC_docs/user_manual.pdf How to Apply: https://pipdic.in/how_to_apply Applicant Login: https://pipdic.in/customer_login Application Link: https://pipdic.in/forms Grievance Form: https://pipdic.in/grievance_form Visit the PIPDIC website. Click "Login". Click the “New customer” link under the “Login” menu, enter a username, email-id, password, and captcha, and then click the "Register" button. Use the registered email-id to log in. An OTP is sent to the registered email address. The applicant is then required to enter the OTP and click "Login" to access to the customer dashboard. Upon successful login, the customer needs to update their profile by accessing the "Edit Profile" option (top right corner of the dashboard). The applicant must provide all required details. Click "Submit". To initiate the loan application process, the applicant must navigate from the customer dashboard by clicking on the "Applications" tab. A pop-up window displaying a checklist of General Terms and Conditions, interest rate structure, investigation fees, and collateral security norms will appear for review. Carefully read this checklist, confirm that all necessary documents have been gathered as requested, and click the “I Agree” button to proceed to the application form. Fill the multi-step application form, providing appropriate details in all mandatory fields across the required steps. The applicant must carefully read and agree to the comprehensive declaration provided within the application form (covering confirmation of true information, absence of unauthorized borrowing arrangements, and consent to verification) before finally ticking the "I agree to terms" checkbox and clicking the final "Submit" button for the main application form. The system will redirect the applicant to enter the Biodata of the Promoter, Partner, or Director, which is typically a multi-step process. The necessary KYC and supporting documents must be uploaded by clicking the "Choose File" button next to each field. Once the entire application and bio-data submission is complete, pay the applicable application fee. If selecting online payment, the system automatically redirects the applicant to the payment summary page, where they verify their details and make the payment. Upon successful payment, the user is redirected back to PIPDIC website, where a receipt for the application fee paid is generated. The applicant can print this receipt or save it to their computer as a PDF for future reference. The customer can monitor the status of their submitted application (which will initially show a status like 'UNDER REVIEW') by clicking the "View My application" link on the dashboard and selecting the relevant loan application in the drop-down menu. For loans up to ₹25,00,000/-, the application fee is ₹100/-. For loans above ₹25,00,000/-, the application fee is ₹200/-. The applicant can contact the Managing Director, Pondicherry Industrial Promotion Development and Investment Corporation Limited at No.60, Romain Rolland Street, Puducherry 605001. The office phone number is 0413-2334361. The email address for contact is [email protected]. The General Manager (Administration) can be contacted via mobile at 9894653835.
Common questions in Puducherry
Who can apply for Short Term Financial Assistance To Good Borrowers in Puducherry?
Eligible residents of Puducherry who meet the scheme’s overall criteria can apply for Short Term Financial Assistance To Good Borrowers. Refer to the eligibility section above for the complete checklist.
What documents are required for Short Term Financial Assistance To Good Borrowers in Puducherry?
Applicants in Puducherry typically need identity proof (Aadhaar), state residency proof, bank account details, and any scheme-specific documents listed in the documents section.
Frequently Asked Questions
To create your account, visit the PIPDIC website at https://pipdic.in/, click "Login", and then select the "New customer" link. Enter a unique username, your email address, a secure password, and the Captcha code, then click "Register" to complete the registration process. <br>