Term Loan Scheme
in Maharashtra
Last updated:
Term Loan Scheme in Maharashtra
Term Loan Scheme is a government scheme available to eligible residents of Maharashtra.
Apply for Term Loan Scheme in Maharashtra
Scheme Overview
The scheme aims to uplift the economically disadvantaged Charmakar community (Dhor, Chambhar, Holar, Mochi, etc.) by promoting their educational, economic, and social development, helping them gain a respectable place in society.
Eligibility Criteria
The applicant should be a permanent resident of Maharashtra.
The applicant should belong to the Charmakar Community.
The applicant's age should be between 18 and 50 years.
For the 50% Subsidy Scheme and Margin Money, the applicant's annual income should be below the poverty line.
The applicant should be able to provide an Income and Caste Certificate from an authorized government officer.
The applicant should have knowledge of the business for which they are applying for the loan.
For the NSFDC Scheme:
- Income should be below ₹98,000 for rural areas.
- Income should be below ₹1,20,000 for urban areas.
Benefits
NSFDC provides Term Loans ranging from ₹1,00,000 to ₹2,50,000 for various schemes, with separate limits for vehicle loans.
NSFDC finances 75% of the project cost. The corporation provides 20% as a Seed Loan. ₹10,000 is provided as a subsidy.
The remaining 5% of the project cost is contributed by the beneficiary.
Repayment Terms: Loan instalments are payable monthly over a period of up to 60 months.
This structure ensures clear and concise information about the Term Loan Scheme for potential beneficiaries.
Required Documents
| # | Document |
|---|---|
| 1 | Aadhaar Card. |
| 2 | Caste Certificate |
| 3 | Annual Income Certificate. |
| 4 | Ration Card. |
| 5 | Passport-size Photograph of the applicant and his/her spouse. |
| 6 | Bank Passbook. |
| 7 | Detailed Project Report. |
| 8 | Loan Documents. |
How to Apply in Maharashtra
Step 1: The interested applicant should visit (during office hours) the District Office of the Leather Industries Development Corporation of Maharashtra (LIDCOM), and request the hard copy of the prescribed format of the application form from the …
Offline Step 1: The interested applicant should visit (during office hours) the District Office of the Leather Industries Development Corporation of Maharashtra (LIDCOM), and request the hard copy of the prescribed format of the application form from the concerned authority.
Step 2: In the application form, fill in all the mandatory fields, paste the passport-sized photograph (signed across, if required), and attach copies of all the mandatory documents (self-attest, if required).
Offline Step 2: In the application form, fill in all the mandatory fields, paste the passport-sized photograph (signed across, if required), and attach copies of all the mandatory documents (self-attest, if required).
Step 3: Submit the duly filled and signed application form along with the documents, within the prescribed period (if any), to the concerned authority.
Offline Step 3: Submit the duly filled and signed application form along with the documents, within the prescribed period (if any), to the concerned authority.
Step 4: Request a receipt or acknowledgement from the concerned authority to whom the application has been submitted. Ensure that the receipt contains essential details such as the date and time of submission, and a unique identification number (i…
Offline NOTE: Ensure that the application is submitted within the prescribed period, if any.
Common questions in Maharashtra
Who can apply for Term Loan Scheme in Maharashtra?
Eligible residents of Maharashtra who meet the scheme’s overall criteria can apply for Term Loan Scheme. Refer to the eligibility section above for the complete checklist.
What documents are required for Term Loan Scheme in Maharashtra?
Applicants in Maharashtra typically need identity proof (Aadhaar), state residency proof, bank account details, and any scheme-specific documents listed in the documents section.
Frequently Asked Questions
The Term Loan Scheme provides financial assistance to economically disadvantaged members of the Charmakar Community for various business purposes.