About
The Haryana Term Loan is a financial assistance scheme for self-employment and income-generating activities in the state of Haryana. The loan is provided by the National Scheduled Castes Finance and Development Corporation (NSFDC) and the National Safai Karmacharis Finance and Development Corporation (NSKFDC) to individuals belonging to the Scheduled Castes and Safai Karmachari communities, respectively. The loan is provided to start or expand a small business or to take up self-employment activities in the state.
Objective Of This Scheme
- To provide financial assistance to individuals or groups belonging to economically disadvantaged sections of society to set up or expand income-generating activities.
- To create self-employment opportunities and enhance the income-earning capacity of the beneficiaries.
- To contribute towards the socio-economic development of disadvantaged groups.
- To help these groups improve their standard of living and achieve financial independence.
- To promote entrepreneurship and encourage the setting up of small businesses and enterprises in the targeted areas.
Eligibility Criteria
Eligibility under NSFDC Scheme :-
- Applicant must be a self-employed individual
- Applicant must be engaged in an income-generating activity through a self-employment scheme under NSFDC/NSKFDC
- Applicant must have completed at least one year of operation under the self-employment scheme
- Applicant must have a good credit history and stable financial situation
- Applicant must have a viable business plan and the ability to repay the loan
- Applicant must provide collateral as required by the lending institution
- Applicant must meet any additional criteria set by the lending institution or NSFDC/NSKFDC.
Benefits
- Provides financial assistance for self-employment income-generating schemes
- Allows individuals to start their own business or expand an existing one
- Helps create job opportunities and increases income
- Offers competitive interest rates
- Allows flexibility in repayment terms
- Provides access to credit for individuals who may not be eligible for traditional bank loans
- Offers professional guidance and support throughout the loan process.
Required Documents
- Proof of identity (Aadhaar card, voter ID, PAN card, etc.)
- Proof of residence (utility bill, rental agreement, etc.)
- Proof of self-employment (registration certificate, business license, GST registration, etc.)
- Business plan or proposal outlining the income-generating scheme
- Financial documents (income tax returns, bank statements, profit and loss statements, etc.)
- Collateral documents (title deeds, mortgage documents, etc.)
- Guarantor documents (identity proof, residence proof, income proof, etc.)
- Any other relevant documents as required by the lending institution.
How To Apply
- Determine if you are eligible for the Haryana Term Loan under the NSFDC/NSKFDC Scheme. You must be a resident of Haryana and have a self-employment income-generating business idea or project.
- Collect all necessary documents, including proof of identity, proof of residence, proof of income, and any other relevant documents as required by the NSFDC/NSKFDC Scheme.
- Contact the nearest NSFDC/NSKFDC office or visit their website to obtain the application form and guidelines for the Haryana Term Loan.
- Fill out the application form accurately and completely, attaching all necessary documents.
- Submit the completed application form and documents to the nearest NSFDC/NSKFDC office or online through their website.
- Wait for a response from the NSFDC/NSKFDC regarding the status of your application. If approved, you will be required to provide additional documents and information for loan disbursement.
- Use the loan funds to start or expand your self-employment income-generating business as per the terms and conditions of the NSFDC/NSKFDC Scheme.
- Repay the loan according to the repayment schedule agreed upon with the NSFDC/NSKFDC.