Scheme Of Assistance To Women Entrepreneurs (Mahalir Udavi)

About This Scheme

The scheme "Scheme Of Assistance To Women Entrepreneurs (Mahalir Udavi)" was launched by the Pondicherry Industrial Promotion Development and Investment Corporation Limited (PIPDIC), Department of Industries & Commerce, Puducherry. The scheme aims to extend financial assistance to new or existing Micro Enterprises promoted exclusively by women entrepreneurs or consisting of a majority of women entrepreneurs. The scheme provides a loan for acquiring fixed assets and/or meeting the working capital requirement for setting up new Small Scale Industry Units or Micro Enterprises, with financial assistance considered up to a maximum of 75% of the project cost, provided the total project cost does not exceed ₹20,00,000/-. The applications for this scheme are accepted online through the PIPDIC portal.

Eligibility

All existing and new SSI/Tiny units promoted exclusively by women entrepreneurs / consisting of majority of women entrepreneurs.

Benefits

- Financial assistance shall be considered up to a maximum of 75% of the project cost. - The loan is provided for acquiring fixed assets. - The loan is provided to meet the working capital requirement. - A concessional rate of interest of 0.5% less than the normal rate is charged for units promoted by Women. - A 50% concession is provided on the investigation fee. - The maximum term loan repayment period is 10 years. ##### *Conditions* - _The project cost shall not exceed ₹20,00,000/-._ - _The Promoter’s contribution must be 25% of the project cost._ - _The Debt Equity Ratio (DER) shall be 3:1._ - _Repayment period is a maximum of 10 years, which includes a moratorium period of a maximum of 2 years, depending upon the period of implementation._ - _Collateral security in the form of immovable property shall be offered as per the lending policy of the Corporation._ - _Apart from collateral security, proposed fixed assets must be covered by mortgage and/or hypothecation._ - _For units promoted by women entrepreneurs, the value of the immovable property to be offered as collateral security is reduced and fixed at 50% of the loan amount._

How to Apply

Where This Comes From

This scheme was sourced from myScheme, the Government of India's official Central+State scheme discovery portal, and reviewed by an editor before publishing. Use the button above to read the full details and apply directly on the official source.