With a vision to empower Tribal Community, there are many financing options introduced by the Government of India. Also, to uplift the tribal communities of Goa, the Government of Goa has also introduced a scheme called Goa Tribal Employment Generation Programme (GTEGP).
Under the GTEGP scheme subsidized loans are available to tribal community/entrepreneurs who want to start an enterprise on their own for their livelihood. The loan extended under the schemes is for funding fixed assets like plant and machinery, furniture and fixtures, etc and current assets mainly for working capital requirement.
You can apply for Goa Tribal Employment Generation Programme (GTEGP) scheme in Goa with EDC Limited and Goa State Scheduled Tribes Finance and Development Corporation Limited
Loan Assistance (Cost in Rs.)
A) Project cost
25.00 lakh for MSME
15.00 lakh For Service Enterprises
15.00 lakh for trading activity
B) Means of Finance
1.Micro & Small Manufacturing Enterprises
- Maximum Project Cost : Rs.25.00 lakh
- Subsidy on Loan Amount : 40%
- Maximum working Capital : 35%
- Promoter Contribution : 5%
2.Service Enterprises
- Maximum Project Cost : Rs.15.00 lakh
- Subsidy on Loan Amount : 40%
- Maximum working Capital : 80%
- Promoter Contribution : 5%
3.Trade Enterprises
- Maximum Project Cost : Rs.15.00 lakh
- Subsidy on Loan Amount : 40%
- Maximum working Capital : 80% (100% in case of agricultural produce)
- Promoter Contribution : 5%
Security for the Loan:
For loan amount up to 2.00 lakh; Personal guarantee of the applicant and spouse/parent/relative.
For loan amount above 2.00 lakh up to 6.00 lakh; One or more third party guarantors, depending upon the loan amount. Such a guarantor could be an employee of State Government/ Government Corporations/Aided Institutions/ Companies of repute or a person owning an unencumbered immovable property in Goa, of commensurate value.
Loan above 6.00 lakh; Notarized copy of ownership documents of the unencumbered immovable property owned by the guarantor/s, commensurate to the loan amount to be provided. The guarantor should not be a defaulter with any financial institution/bank.
Moreover, EDC Limited is a Government financial institution that offers different other loans such as personal loans Goa for Government employees, loans for entrepreneurs and CMRY (Chief Minister's Rojgar Yojana) scheme.
EDC Limited is a premier financial institution in Goa and for the last 46 years has been responsible for supporting entrepreneurs and has played a pivotal role in the economic development and industrial growth in Goa. From being a prime lending institution, EDC has turned into a result oriented financial institution, helping to operate a vast array of schemes for various sectors like MSME, unemployed youths and also Government employees.
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