Eligibility:
1. The proposed unit for which financial assistance is sought should be situated within any of the eight North-Eastern States
2. The proceeds of the term loan should be deployed in the creation of fixed assets, which will ultimately generate revenues for the unit
3. Company should be financially sound
4. It should be in operation for a period of 5 years and should be making a profit for the last three years
5. The producer must have a good credit record of accomplishment
Benefits:
1. Financial assistance is provided for acquiring specific machinery/equipment by financially sound and profit-making companies/producers having a good credit record
2. It provides assistance in the form of rupee term loan
The Extent of Assistance:
Maximum 70% of the cost of Interest Rate Prime Lending Rate (PLR) plus a maximum spread of 3% per annum.
Collateral Security:
Collateral Security may be required in particular cases as per the case it may be stipulated by the sanctioning authority
