SCHEME FOR QUALIFIED PROFESSIONALS AND SERVICE SECTOR UNITS

1. The Scheme: The scheme is intended for qualified professionals and service sector units to set up their professional practice / consultancy ventures. Assistance is extended for the creation of fixed assets related to their profession and for working capital needs.

2. Eligibility :

  • The assistance will be available to qualified professionals in the field of Management, Accountancy, Medicine, Architecture, Software Professionals and Engineering who have the basic degree / professional qualification in their respective profession (MCA degree in respect of software professionals) for setting up of their own business utilising their professional skills. 
     
  • In respect of interior decorators in addition to basic degree in any discipline, they should have completed Certificate / Diploma Course in Interior Decoration / Designing having a course period of minimum one year from a reputed institution. 
     
  • Assistance in the form Working Capital Term Loan will be considered to Hospitals, Hotels, Restaurants, Marketing of MSME products, Retail Outlset of MSME / SME products, Cold Storage Units / Preservation of goods, which are existing for the past 3 years with positive networth and continuous cash profit for the past 3 years.
3. Promoter's Contribution : The minimum promoter's contribution shall be 35% of project cost.

4. Repayment Period : Five years including an initial moratorium not exceeding one year.  The principal installments are payable on monthly basis and interest is payable on monthly rest.

5. Collateral Security: Collateral security @ 50% for equipments / machinery only. If equipments / machinery are highly movable and prone to rapid obsolescence,  100% collateral security has to be offered.  

Page modified on 05.04.2011

 

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