NEDFi Women Enterprise Development Scheme

North Eastern Development Finance Corporation Limited has introduced the Women Enterprise Development Scheme for women entrepreneurs. As the name suggests, the scheme helps in motivating women entrepreneurship by financially supporting the project. It allows women to elevate their status by participating in the business and development of micro-enterprises.

Objectives of the Scheme

The primary objective of the scheme is to provide financial assistance to women entrepreneurs. Women entrepreneurs with existing business ventures are also eligible for the scheme in order to expand, modernise or diversify the business.

Features of the Scheme

Women enterprise development scheme provides loans to businesswomen of all sections. The applicant can receive a term loan and a working capital loan at 8% interest rate. The loans will be sanctioned to women who are engaged in a viable business. The maximum amount of loan is Rs.15 lakh, and 75% of assistance for a project will be offered as a loan.

Eligibility of the Scheme

The applicant must be a woman engaged in any income-generating activity, which includes small business trade amongst others. The scheme is aimed at women entrepreneurs aged between 18 years to 50 years.

Nature of Loan

The scheme offers term loan to applicants. The loan amount, including working capital, should not exceed Rs.15 lakhs. The funding will be approved by the project approval committee as per the norms of NEDFi. Maximum assistance of 75% if the cost of the project will be extended as a term loan.

The promoter should contribute a minimum of 25% of the cost of the project.

Interest rate and fee

The rate of interest is 8% p.a. and the upfront processing fee is 1% of the term loan.

Tenure of the loan

The loan has a repayment tenure ranging between 3 years to 7 years.

Security for the loan

There will be a first charge on fixed assets of the unit.
Current assets of the unit will be hypothecated.
Personal guarantee of the promoter is required.
There could be a requirement of additional security as per the availability.

Process of Availing the Loan

Step 1: Detailed Project Report (DPR) to be prepared Step 2: Project Proposal to be prepared Step 3: Documents as required by NEDFi Step 4: DPR and Project Proposal to be sent to the project approval committee or the board of directors Step 5: After approval of the project, application fee to be paid Click here to know more about project proposal, DPR and documentation process, This scheme is applicable to the following North-Eastern states:

Sikkim
Arunachal Pradesh
Assam
Meghalaya
Nagaland
Manipur
Tripura
Mizoram

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NEDFi branches

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Frequently Asked Questions

Common questions about Women Enterprise Development Scheme in Northeast India.

The NEDFi Women Enterprise Development Scheme is a financial assistance program introduced by the North Eastern Development Finance Corporation Limited to support women entrepreneurs in starting or expanding their business ventures. It provides term loans and working capital loans at a concessional interest rate of 8% to eligible women entrepreneurs.

The scheme is aimed at women entrepreneurs aged between 18 years and 50 years, engaged in any income-generating activity, including small businesses and trades. The applicant must be involved in a viable business venture.

The maximum loan amount, including term loan and working capital, is Rs. 15 lakh. The scheme offers a maximum assistance of 75% of the project cost as a term loan, while the promoter must contribute a minimum of 25% of the project cost.

The interest rate for the loan is 8% per annum. Additionally, there is an upfront processing fee of 1% of the term loan amount.

The loan has a repayment tenure ranging from 3 years to 7 years, depending on the nature and requirements of the project.

The loan is secured by a first charge on the fixed assets of the unit, and the current assets of the unit will be hypothecated. Personal guarantee of the promoter is also required. Additional security may be asked for, based on the availability of assets.

The scheme is applicable to the following North-Eastern states: Sikkim, Arunachal Pradesh, Assam, Meghalaya, Nagaland, Manipur, Tripura, and Mizoram.

The process involves preparing a Detailed Project Report (DPR) and a Project Proposal, submitting the required documents to NEDFi, and getting the project approved by the project approval committee or the board of directors. After approval, the application fee needs to be paid.

Yes, women entrepreneurs with existing business ventures are eligible for the scheme to expand, modernize, or diversify their businesses.

For more details about the scheme, including information on project proposals, DPRs, documentation process, and NEDFi branch locations, you can visit the official website or contact the nearest NEDFi branch.