New Entrepreneur cum Enterprise Development Scheme (NEEDS)
| Purpose | Educated youth will be identified, given entrepreneurial training, assisted in preparation of business plan, helped to tie up with banks/TIIC/SIDBI and linked with major industrial clients to set up new business ventures. |
| Eligibility |
1) For first generation entrepreneur with +2 qualification and in the age group of 21-35 years under General category and 21-45 years under special category (i.e., Women /SC / ST/BC/ MBC / Minorities / Ex-serviceman / Transgender / Differently abled persons) 2) The Private Limited Companies are not eligible for getting assistance under NEED Scheme. |
| Project Cost | Rs 10.00 lakhs to Rs 500.00 lakhs |
| Promoter’s Contribution / DER |
10% for general category The maximum permitted DER for 5% capital will be 19.00:1.00 and for 10% capital, max. DER is 9:1. |
| Repayment Period | 5 – 7 years including 6 months moratorium |
| Collateral Security | 50% of loan amount |
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