Differently abled people can now get loan to construct their business offices

Name of the scheme:

Scheme of financing construction of commercial/business premises for starting self employment activity to persons with disability

Purpose:

To provide financial assistance in the form of loan to persons with disability for constructing Commercial/Business premises to start their own ventures. However, the premises should be approved by Development Authority or Urban Improvement Trust.

Eligibility:

• Eligibility criteria must be as per the National Handicapped Finance and Development Corporation (NHFDC) norms for self-employment loan.
• The land on which the Commercial/Business premises is proposed must be owned by the applicant or the applicant must have taken the land on lease for long term of above 20 years.

Amount of loan:

Up to Rs. 3 lakh loan is provided. However, depending upon the repayment capacity of the borrower, loans will be provided.

Rate of interest:

Loan amount	To be paid by SCAs to NHFDC	To be paid by beneficiaries to SCAs
Up to Rs. 50,000/-	2%	5%
Above Rs. 50,000/- and  up to Rs. 3 lakh	3%	6%

(SCA- State Channelizing Agency)

Repayment of Loan – The loan has to be repaid within 10 years.

How to apply?

Contact here to apply.

For more information, visit here

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