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With an objective to assist existing units for expansion and upgradation, the scheme provides financial assistance to successful/well performing units.
The scheme also caters to the need of the entrepreneurs for bringing new technology/ automation so as to modernize the existing unit.
Maximum subsidy would be 15% of the project cost (20% for NER and Hill States). The balance amount of the total project cost is provided by Banks as term loan.
The maximum cost of the project under manufacturing sector for up-gradation is Rs.1.00 crore and Rs. 25.00 lakhs under Service/ Trading sector.
Maximum subsidy would be 15% of the project cost (20%) for NER and Hill States) i.e. Rs. 15.00 lakhs in Non-NER and Rs. 20.00 Lakh for NER and Hill States. The balance amount of the total project cost shall be provided by Banks as term loan.
Any collateral/ third party guarantee free credit facility (both fund as well as non-fund based) extended by eligible institutions, to new as well as existing Micro and Small Enterprises, including Service Enterprises, with a maximum credit cap of Rs. 2 crore are eligible for guarantee under the scheme. Recently, guarantee coverage made eligible to select NBFCs and Small Finance banks.
The guarantee cover available under the scheme is to the extent of 50%/ 75% / 80% & 85% of the sanctioned amount of the credit facility. The extent of guarantee cover is 85% for micro enterprises for credit up to Rs. 5 lakh. The extent of
guarantee cover is 50% of the sanctioned amount of the credit facility for credit from Rs. 10 lakh to Rs. 1 crore per MSE borrower for retail trade activity.
The extent of guarantee cover is 80% for (i) Micro and Small Enterprises operated and/or owned by women; and (ii) all credits/loans in the North East Region (NER) for credit facilities up to Rs. 50 lakh. In case of default, the trust settles the claim up to 75% of the amount in default of the credit facility extended by the lending institution for credit facilities up to Rs 2 crore.
Creation of Common Facility Centers including Plug & Play Facilities. Support for Infrastructure Development Projects including Flatted Factory Complexes.
Creation of “tangible assets” such as Common Production / Processing Centre, Design Centers, Testing Facilities including Plug & Play Facilities. GoI Assistance: up to 80% of the maximum Project cost of Rs. 30 crores.
