Technical Assistance Scheme (T.A.S.)

This scheme aims at giving financial assistance upto Rs. 5 lakhs on a 15 percent margin to competent technicians. The technician should be a degree/diploma holder with a minimum of three years of experience in the line of manufacture or if he is not so qualified, he should atleast be educated and should have a minimum of five year of experience. The age limit for this scheme is 45 years but is relaxable up to 50 years in deserving cases. The applicant is considered eligible if his scheme is for the manufacture of any industrial product requiring technological skill. Market ability of the product should, however, be reasonably assured.
The repayment period is of ten years, with a holiday for the first three years. In deserving cases, the corporation may also consider seed capital to bridge the gap between the promoters available construction and the promoters contribution as specified by the corporation. In any case, the applicant is required to raise this own funds of the extent of atleast 7.5 percent of the total cost of the project.
Proposal upto Rs. 2 lakhs under T.A.S. are scrutinised and sanctioned at the respective Regional Officers.

Scheme for Assistance to Young Technicians (Y.T.A.S.)

This scheme aims at giving financial assistance upto a maximum of Rs. 2 lakhs to Young Technicians entrepreneurs for creation of fixed assets as mentioned in para B under the heading ‘Loan’.

Conditions for Eligibility

The applicant’s proposal should satisfy the following conditions

  •  The proposed activity may be carried out either by one technician alone or by forming partnership with another trained technicians, having 3 years experience or a technician having successfully undergone apprenticeship training in a reputed Government or Private Sector Organisation and having 3 years experience.
  • The entrepreneur is required to give up his job (if employed) before the final disbursement of the loan amount or earlier if necessary.
  • The applicant should not be less than 21 years and more than 35 years of age at time of the sanction.
  • The applicant is eligible, if his scheme is for the manufacture of any industrial product or component, that is essential for the manufacture of an assembly product of a larger industry or servicing industry. The marketability of this scheme should be reasonably assured.


Loan

The loan includes financial assistance for the following purposes

  • Cost of the land required for the construction of the factory building including site evelopment expenditure.
  • Cost of the buildding for manufacturing operations, along with a reasonable place for the storage of raw materials, finished goods etc.
  • Machinery and equipments, including taxes, transportation cost, octroi, tools, jigs, measuring instruments etc.
  • Expenses towards electric installation, foundation and erection water line and furniture and fixtures pertaining to production activity.


For assured capital facility, necessary recommendation will be made by the Regional Officers, to the Commercial Banks for the grant of working capital assistance.


Seed Capital

The eligible units would be entitled to seed capital assistance from the Corporation.

Promoters Contribution

The promoters minimum contribution would be 7.5 percent of the project cost (by way of capital) if seed capital is available and 15 percent in case the seed capital is not available.

Security and Margin

All the tangible assets proposed to be created, would be taken as security for the loan amount. A first change towards the mortgage of the said assets would be created in favour of the corporation. A margin of 15 percent would be maintained. In case the total assistance under Term Loan and Seed Capital together with the minimum promoters contribution, exceeds the project cost (where central subsidy/state incentive is available the quantum of the term loan would be reduced correspondingly.

Repayment of Interest

The interest shall be payable half yearly. The first instalment of interest however, would start after 12 month from the first disbursement of the loan. This accumulated interest, will be recovered in two equal instalments at the time of the third and fourth instalment of interest. The net rate of interest for the term loan, will be 13.5 percent in the specified backward districts in the State of Maharashtra. State Government subsidy is available at 13.5 percent the entire union territory of Goa, Daman Diu where 1 % State Government subsidy is not available and 13.5 % in the area other than those mentioned above. These interest rates will be charged, provided the payments towards interest as well as the principal amount are punctually made on the due dates.

Repayment of Term Loan

The unit financed shall have to repay the loan within a period of 10 years, with a holiday for the first three years from the disbursement of the first instalment of the loan. The dues of the Corporation can be paid in monthly instalments.

Repayment of Seed Capital or Payment of Seed Capital Assistance

The seed Capital shall be repaid in half yearly instalments, commencing from the end of the fifth year from the date of disbursement of the first instalment of the seed capital assistance. The moratorium of three years from the date of first disbursement of the instalment of this assistance will be granted in respect of payment of interest which will be charged at 1 %. The interest accrued during this period of moratorium of 3 years, shall be recoverable in two-half yearly instalments commencing from the fourth year of the disbursement of the seed capital.

Processing Fee


Processing fee will be charged at Rs. 150/ (fixed), irrespective of loan amount on the date of submission of the loan application form to the respective Regional Office.