Grant Of Margin Money For Availing Capital Loan

Objects:

To encourage the entrepreneur to set up new coir industries or renewal of existing coir industries

Eligibility/Condition:

I. The unit should be set up in the U.T. of Puducherry.

II. The promoter should produce the sanction letter in respect of loan sanctioned by the financial institution.

III. The unit should start its commercial production within six months from the date of release of Margin Money Grant.

IV. The promoter should submit an under taking letter assuring that he will run the unit successfully for 5 years after establishment of the unit.

Pattern of Assistance:

On receipt of sanction order of the financial institution, 25% margin money restricted to Rs.25.00 lakhs i.e. for the project of Rs. 1.00 crore on the loan amount will be released to the bank on behalf of the entrepreneurs