Eligibility
Businesses
operated by women entrepreneurs are eligible to receive a loan under Stree
Shakti Package. For the purpose of identifying “Women Entrepreneurs”
businesses, the definition recommended by the MSME Department of India will be
applicable. As per definition, a Women Entrepreneur business is “A small
scale industrial unit/industry related service or business enterprise managed
by one or more women entrepreneurs in proprietary concerns or in which she/they
individually or jointly have a share capital of not less than 51% as partners
/shareholders/Directors of Private Limited Company/Members of Co-operative
Society.
Thus, women
entrepreneurs or women entrepreneur business in retail trade, manufacturing
or services are eligible for the scheme. Also, Women professionals like
Doctors, Beauticians, Architects and Chartered Accountants can avail loan under
the Stree Shakti package.
Amount of Loan
Loan in the
form of term loan or working capital can be provided under the Stree Shakti
package. The quantum of loan provided would be based on the borrower profile
and the following guidelines:
•Retail traders:
Rs. 50000 to Rs.2 Lakhs
•Business enterprises: Rs. 50000 to Rs.2 Lakhs
•Professionals: Rs. 50000 to Rs.25 Lakhs
•SSI: Rs. 50000 to Rs.25 Lakhs
As the
package is aimed at Women Entrepreneurs, concessions or relaxations in the
margin is in-built into the scheme along with the low floating rate of
interest, linked to the base rate of the bank.
Collateral Requirement
It does not
require any collateral for a loan of up to Rs.10 lakhs, extended to MSME
enterprises owned by Women Entrepreneurs. Further, loans to women entrepreneurs
of up to Rs.100 lakhs that can be covered under the CGTMSE scheme also requires no
collateral. However, collateral is a must for any loan above Rs.1 crore or
based on the borrower profile.
Documents Required
- Proof of identity: Voter’s ID Card/
Passport/ Driving License/ PAN Card/ signature identification from present
bankers of the proprietor, partner or Director (if a company).
- Proof of residence: Recent
telephone bill, electricity bill, property tax receipt/ Passport/ Voter’s
ID Card of the proprietor, partner or Director (if a company).
- Proof of business address
- Proof of Minority
- Last three years balance sheets of the
units along with income/sales tax returns etc.
- Memorandum and articles of association of
the Company/ Partnership Deed of partners etc.
- Assets and liabilities statement of
promoters and guarantors along with latest income tax returns.
- Rent Agreement (if business premises on
rent) and clearance from pollution control board if applicable.
- SSI registration if
applicable.
- Projected balance sheets for the next two
years in case of working capital limits and for the period of the loan in
case of term loan.
- In case of takeover of advances, sanction
letters of facilities being availed from existing bankers/ Financial
Institutions along with detailed terms and conditions.
- Profile of the unit (includes names of
promoters, other directors in the company, the activity being undertaken,
addresses of all offices and plants, shareholding pattern etc.
- Last three years balance sheets of the
Associate/Group Companies (If any).
- Project report (for the
proposed project if term funding is required) containing details of the
machinery to be acquired, from whom to be acquired, price, names of
suppliers, financial details like capacity of machines, capacity
utilization assumed, production, sales, projected profit and loss and
balance sheets for the next 7to 8 years till the proposed loan is to be
paid, the details of labour, staff to be hired, basis of assumption of
such financial details etc.
- Review of account containing month wise
sales (quantity and value both), production (quantity and value), imported
raw material (quantity and value), indigenous raw material (quantity and
value), value of stocks in process, finished goods (quantity and value),
debtors, creditors, bank’s outstandings for working capital limits, term
loan limits, bills discounted.
- Photocopies of lease deeds/title deeds of
all the properties being offered as primary and collateral securities.
- Position of accounts from the existing
bankers and confirmation about the asset being Standard with them (In case
of takeover).
- Manufacturing process if applicable, the
major profile of executives in the company, any tie-ups, details about raw
material used and their suppliers, details about the buyers, details about
major competitors and the company’s strength and weaknesses as compared to
their competitors etc.