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GOA: SCHEME OF TERM LOAN ASSISTANCE TO QUALIFIED PROFESSIONALS

Government of Goa has come up with a new scheme to provide loan to Professionals such as Registered Medical Practitioners, Chartered Accountants, Company Secretaries, Advocate, Consulting Engineers, Chartered Engineers / Registered Valuers, Architects, Cost Accountants etc. in the individual/joint capacity or as a partnership concern/LLP/Company.

Objective:

To provide financial assistance for finance acquisition of premises and equipments, machinery and furniture & fixtures required for setting up new or acquiring additional fixed assets for professional practice / consultancy venture.

Eligibility:

  • The promoter should have a minimum of two years experience in the line and the age limit shall be upto 55 years.
  • The loan amount shall be utilized for creation of fixed assets, take-over/repayment of outstanding loans (only standard assets) of applicants from other banks/institutions against fixed assets acquired, during the past 18 months.
  • The proposed property to be mortgaged, should not be presently leased out/rented out and should not be leased out/rented out in future without the permission of the Corporation.
  • The repayment history & past dealings of the promoters/unit /sister concerns/group concerns with the Corporation/Banks/FIs should have been satisfactory.
  • The applicant should be agreeable to mortgage its immovable property as prime security and hypothecate its moveable assets with first charge to the Corporation.

Benefits:

Quantum of loan will be upto Rs. 50.00 lakhs. The actual amount of loan sanctioned shall be decided by the Corporation based on its norms.

Area of operation:

In the State of Goa.

 For More Info: Click here

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