Purpose
To facilitate smooth access of credit to eligible and creditworthy women SHG members so that they graduate to entrepreneurs.
Identification of Beneficiaries
Sponsoring Agency (NRLM/SRLM officials) shall identify one-woman micro-entrepreneur from each matured SHG as per eligibility and shall forward the application with KYC of the beneficiary to the nearest/identified branch. Any official of NRLM/SRLM or any person from Village/panchayat/block level federation etc engaged by SRLM officials shall forward the loan application.
Eligibility
- Only one individual woman SHG member from select matured, well-performing SHGs (SHGs which are more than 2 years old and have accessed at least one dose of bank loan with timely repayment).
- Should be running a viable economic enterprise.
- Preferably should be a member of SHG for the last two years and have taken a loan from her SHG at least once without any delayed EMI for more than 30 days in the last 12 months.
Type of Loan
Term Loan based on requirement. Working Capital, if required, also to be provided in the shape of a term loan.
Quantum of Loan
- Minimum Project Cost: Rs. 1.00 lakh
- Minimum Loan: Rs. 80,000/-
- Maximum Loan Amount: Rs. 2.00 Lakhs
Margin
Minimum 20% of the Project Cost.
Security
Hypothecation of Assets created out of bank loan.
Repayment
To be repayable in 36 Equated Monthly Installments starting one month after the date of the first disbursement of the loan.
Processing Charges
NIL
*Conditions Apply