Long Term-Loan to SC Co-op Spinning Mills under Special Component Plan

Scheme Category

Banking,Financial Services and Insurance,Business & Entrepreneurship,Loan,Banking and money

Target Beneficiaries

Business Entity,Individual

Brief Description

The scheme "Long Term-Loan to SC Co-op Spinning Mills under Special Component Plan" was introduced by the Department of Social Justice & Special Assistance, Government of Maharashtra. The scheme aims to promote the development of spinning mills owned by scheduled caste members.

Benefit Type

Cash

Eligibility Criteria

1. The spinning mill must collect a minimum of ₹80,00,000/- or at least 5% of the project cost as member shares. 1. The project submitted by the spinning mill must be enumerated by recognized financial institutions/banks, which will also check the project report. > Recognized Institutions for Enumeration 1. Maharashtra Industrial & Technical Consultancy Organization Ltd. (MITCON), Pune. 1. Agriculture Financial Corporation, Mumbai. 1. Dattajirao Technical Institute, Ichalkaranji. > NOTE 1: Ensure that all financial contributions and project details are documented and verifiable. > NOTE 2: The spinning mill should engage with recognized institutions early in the project planning phase to facilitate a smooth enumeration process. > NOTE 3: Proper financial management is essential to meet the project cost and member share requirements.

Application Mode

Offline

Application Process

Step 1: The interested applicant should visit (during office hours) the <nis:link nis:type=webUrl nis:id=slugId nis:text="Textile Department, Government of Maharashtra" nis:value=https://mahatextile.maharashtra.gov.in/en/ nis:enabled=true/> and request a hard copy of the prescribed format of the application form from the concerned authority. Step 2: In the application form, fill in all the mandatory fields, paste the passport-sized photograph (signed across, if required), and attach copies of all the mandatory documents (self-attest, if required). Step 3: Submit the duly filled and signed application form along with the documents, within the prescribed period (if any), to the Textile Department. Step 4: Request a receipt or acknowledgement from the concerned authority to whom the application has been submitted. Ensure that the receipt contains essential details such as the date and time of submission, and a unique identification number (if applicable). Step 5: After approval and sanction of share capital, proceed to submit the application to the Assistant Commissioner, District Social Welfare Office, where the Social Welfare Department will sanction the loan. NOTE: Ensure that the application is submitted within the prescribed period, if any.

Required Documents

• Passport-sized photograph (signed across).
• Recent financial statements of the spinning mill.
• Detailed project report enumerated by a recognized financial institution.
• Identity proof, address proof, and any other required documents, all self-attested.
• Any prior approvals from the Textile Department.
• Any other documents as specified by the concerned authority.