Entrepreneur Development Scheme
|Purpose||For encouraging entrepreneurship amongst persons from economically and socially disadvantaged backgrounds who wish to promote their own enterprise.|
a. Persons without any asset back up but having relevant qualifications and experience for implementing viable project.
b. Existing small units requiring assistance for additional machinery / needs additional working capital
|Maximum Loan Limit||Individual Unit – Rs.Rs.5.00 lakhs or 30 times on the net salary of the two guarantors|
|Repayment||Maximum 60 months including a maximum moratorium period of 6 months.|
|Collateral Security requirement||
Third party guarantee shall be obtained as under :