Interest Subsidy on term loan for equipment/ machinery for small sized new services enterprise promoted by female entrepreneur aged below 35 years

Operated by
Industries and Mines Dept.-Industries Commissionerate, Government. of Gujarat
Purpose 
To provide interest subsidy on term loan for equipment/ machinery for small sized new services enterprise promoted by female entrepreneur aged below 35 years
Probable duration
01/01/2015 to 31/12/2019

Eligibility

  •  The Enterprise registered as Service Enterprises under MSME Development act, 2006 with respective DIC as service enterprise.

  •  For setting up new service enterprise during operative period of the scheme such enterprise has to start the service activity during the operative period.

  •  The Assistance will be available to enterprise set up any where in the State with permission from appropriate local authority.

  •  The application should be submitted within one year from the date of first disbursement of term loan or from the date of first bill of the service activity whichever is later.

  •  The enterprise will have to employ at least 85% of the total employment and 60% of supervisory and managerial employment from local persons.

  •  Owner's age must be less than 35 years

Benefit Description

Interest subsidy on term loan for equipment/ machinery for small sized new services enterprise promoted by female entrepreneur aged below 35 years

Application process

  •  Refer the following link for apllication form: http://ic.gujarat.gov.in/documents/pagecontent/AF-01-scheme1.pdf

    • Other Details

    Conditions if Any
    • New MSME Service Sector having investment in machinery and equipment's more than Rs.5 lakhs will be eligible for Interest subsidy
    • First service bill will be considered as the date of commencement of service activity.
    • Interest Subsidy will be reimbursed after payment to the Bank/Institution
    • Enterprise which has obtained first disbursement during the operative period of the scheme will eligible for the Assistance.
    • If the enterprise becomes defaulter for any period, it will not be eligible for reimbursement of interest subsidy for that default period.
    • In case term loan is sanctioned after one year from the date of first service bill of the service activity, such enterprise will not eligible for Interest subsidy under the scheme
    • Interest Subsidy will be reimbursed only after the commencement of service activity.
    • For the purpose of Assistance under this resolution, the investment made in Gujarat shall be clubbed to decide the status of MSME.
    • The enterprise shall have to file information about annual production, sales, power consumptions and such other details as may be called for by DIC (for each year ended on 31st March regularly).
    • The enterprise has to give undertaking on his letter head singed by authorized signature to confirm that all Government dues are paid as on date
    More Information
    Annexure Link: -
    Link: 
    # Refer page no 3 of the following link: http://ic.gujarat.gov.in/documents/pagecontent/102014-924840-CH-1.pdf

    File: -