INTEREST FREE LOAN BY SFAC
Ministry of Agriculture and Farmers Welfare has launched The Venture Capital Assistance Scheme. This scheme provides financial support in the form of interest free loan by Small Farmers Agribusiness Consortium (SFAC) to qualifying projects.
WHO CAN APPLY?
Following persons can apply under this venture capital assistance scheme
- Producer Groups/Producer Companies
- Proprietary Firms
- Partnership Firms
- Self Help Groups (SHG)
- Agripreneurs (Entrepreneurs in the field of agriculture)
- Units in agriexport zones
- Agriculture graduates individually or in groups
HOW TO APPLY:
Applicant can file application only online; offline application will not be accepted. Application can be filled online of SFAC website.
Applicant required following documents for filling application:
- Request letter by promoters on letter head of the company/firm addressed to the Managing Director SFAC, New Delhi.
- Bank’s approved appraisal note bearing signature of sanctioning authority with terms of sanction of term loan.
- Sanction letter of Sanctioning authority addressed to recommending branch.
- Equity Certificate:
- CA certificate in case of Partnership or Proprietorship firms.
- Form-2(PAS-3), FORM-5(SH-7) and other documents in lieu of FORM-23 filed with ROC.
- List of farmers or backward linkage supported by an agreement.
- Promoter’s affidavit that they have not availed VCA in the past.
- Bank’s confirmation letter that they will not release primary & collateral security without SFAC consent.
- Copy of Bank’s inspection report.
- If term loan and cash Credit already sanctioned than up-to date copy of that statement.
- CA Certificate in case of unsecured loan.
- Justification for margin on working capital.