UCO Mahila Pragati Dhara
UCO Mahila Pragati Dhara (UMPD)
UCO Mahila Pragati Dhara is designed to support and give power to women entrepreneurs by offering easy financial assistance at open-minded and concessional terms for handling production, manufacturing or service related economic activities under Micro and Small Enterprise Sector.
Eligibility Criteria
The following are the eligibility criteria for UCO Mahila Pragati Dhara:
- Any woman individually or any unit created by a woman or group of women as a sole proprietary firm.
- Partnership firm in partnership with other women or men where the main share in the partnership is of women partner(s)
- Private Limited Company with major shareholding being held by Women
- Closely held Public Limited Companies with major shareholding being held by Women
- Women entrepreneur(s) or enterprise (where women entrepreneurs hold not lesser than 50 % of financial holding) involved in production and manufacturing process as well as service enterprise.
- Not defaulter to any Bank or Financial institution.
UCO Mahila Pragati Dhara scheme gives preference to women entrepreneurs skill trained in R-SETIs or any other approved training institute.
Loan Sanctioned
Term loan or working capital facilities of a minimum of Rs.2 lakhs to a maximum of Rs.25 lakhs can be sanctioned under the scheme for setting up of new businesses or for expansion or modernisation. Some of the main businesses supported under the scheme include tailoring, beauty parlor, photocopying (Xerox ) centre, typing centre, cyber café, auto-repairing and servicing centre, laundry & dry cleaning, ISD/STD booths, cable TV networks, crèche, road transport operators, mobile repairing, canteen, restaurant, training institute and so on.
The above mentioned activities are not comprehensive. All proposals meeting the eligibility criteria will be processed under the scheme on a merit basis.
Margin & Collateral
There is no margin requirement for loan of upto Rs. 2 lakh. Loans above Rs.2 lakhs to Rs.25 lakhs are required to provide a margin of 15%. Margin money can also be covered in the form of any subsidy or sponsor by a Government scheme or agency.
The loan will be covered under the CGTMSE scheme. Additionally, all the assets created out of the loan will be hypothecated to the Bank.
Loan Repayment
In case of term loan, a tenure of 5 to 7 years in EMI – exclusive of moratorium period (maximum 6 months) can be provided based on the cash flow of the project. In case of working capital facilities, renewal is required every 12 months.
Applying for UCO Mahila Pragati Dhara
The UCO Mahila Pragati Dhara loan can be applied in a simple form called the IBA along with one passport size photo and the following documents:
- Proof of identify: Voter’s ID card or passport or driving license or PAN card
- Proof of Residence: Recent telephone bills, electricity bills, property tax, receipt or passport or voter’s identity card or certificate from the local bodies.
- Proof of business address
- Rent agreement in case business premises is on rent.
- Projected balance sheet, profit and loss statement for the subsequent two years (valid for loan above Rs. 2 lakhs)
- Last three years balance sheets and Profit/Loss statement of the existing unit (appropriate for loan above Rs.2 lakhs)
- Clearance from Pollution Control Board, if applicable.
- Details of plant and machinery to be obtained, price, number and name of the supplier.
- License or permission from the Governmetal authority, if necessary.
- Asset and liability statement of the promoters.
