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Tender Notices

Goa Tribal Employment Generation Programme(GTEGP) Scheme

1 Eligibility Goa Tribal Employment Generation Programme (GTEGP) Scheme
a) Age Unemployed person, 18 to 45 years of age.
b) Educational  qualification Minimum standard IVth.(Relaxable in deserving cases)
c) Category Must be a Member of Tribal Community notified by the Government of Goa.
d) Domicile Permanent resident of Goa for at least 15 years.
e) Defaulter/ Non Eligibility Should not be a defaulter to any bank, financial institution, etc.
2 Activities   covered Micro and small manufacturing enterprises, Service enterprises, Trade enterprises (Farming activities, tobacco products and red category industries are not eligible).
3 Loan Assistance
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%

c) Interest rate 2% p.a.
d) Penal Interest NIL
e) Moratorium period 3 to 6 months (At the discretion of GTEGP-TFC).
f) Security First charge of mortgage/hypothecation of fixed assets (building, furniture, machinery, etc.) and/or current assets (trading goods, raw material, etc.)
g) Collateral  

For loan amount upto  2.00 lakh;Personal guarantee of the applicant and spouse/parent/relative.

For loan amount above  2.00 lakh  upto  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.

 

h) Repayment Schedule Repayable in 60 to 120 EMIs (As per discretion of GTEGP-TFC).
 4  Training  Compulsory entrepreneurship training of upto 7 days within six months from the date of sanction.
 5  Task force Committe  A 5 member GTEGP Task Force Committee (TFC) constituted by the Government shall scrutinize applications for sanctions.
 6  Recovery  In case of default in repayment of loan, the amount is to be recovered as arrears of land revenue or under the Public Money Recovery Act, DRT or any other relevant Act and rules thereof.

FREQUENTLY ASKED QUESTIONS  (FAQ)

Who is eligible under the GTEGP Scheme?

All educated unemployed persons from 18 upto 45 years  and members of the tribal community notified by the Government of Goa are eligible.

What are the main criteria for availing the Scheme ?

The applicant should be minimum Std IVth, have a 15 year  a residence certificate and  should not be a defaulter to any nationalized bank/financial institution/

What are the activities that can be financed under the Scheme?

Micro and small manufacturing enterprises service enterprises trade enterprises are eligible under the scheme

What is the maximum project cost that can be considered for finance

a) 00 lakh for MSME.

b) 15.00 lakh for Service Enterprises.

c) 15.00 lakh for trading activity.

How much is the finance that I will get?

57% of the project cost will be considered as term  loan finance 

Is there any  promoters margin  that I need to bring in?

Yes. 5% minimum promoter’s margin has to be brought in

What is the repayment period for the loan

Loan is repayable in 60 to 120 EMIs (As per discretion of GTEGP-TFC).

What is the interest rate applicable

2%  p.a. on the term loan

What is EMI?

EMI stands for Equated Monthly Instalments. This instalment comprises of both principal and interest components.

How do I pay the EMI ?

You can pay the EMIs in any branch of HDFC bank. You need to prefix your loan account No  with  and deposit the same in the bank

Do you  check the CIBIL report of the borrower ?

The CIBIL Report of the applicant should be satisfactory.

Can I avail loan to acquire a premise?

Yes. Assistance for acquiring premises which may be required for the proposed project, could also be considered, subject to the condition that exposure for such premises shall not exceed 50% of the maximum eligible project cost limit under the Scheme, in all cases except in case of professionals and technically qualified persons, wherein it can be as high as 70%.

How is the loan secured?

The loan is secured by way of hypothecation of fixed assets and working capital and by way of mortgage of the premises if it is being acquired.

Do I need to have a guarantor for the loan?

Yes

a) For loans amount upto Rs 2.00 lakh: Personal guarantee of the applicant and spouse, as a Confirming Party, in case of married person. If unmarried, guarantee of parent/relative, to be provided

b) For loans from Rs 2 lakhs upto Rs 6.00 lakh” the applicant has to provide personal guarantee of one or more guarantors depending upon the loan amount in addition to the guarantee of the spouse in case of married person. Such a guarantor could be one of the following:

  1. A person owning an unencumbered immovable property in Goa, the value of which should commensurate to the loan amount.
  2. An employee of the Government of Goa /Corporations of Government of Goa/ Autonomous Body/ Government Aided and other Institutions controlled by the Government of Goa.

c) For Loans above `6.00 lakh: Notarised copy of ownership documents of the unencumbered immovable property owned by the guarantor/s, commensurate to the loan amount to be provided.

What are the documents that need to be submitted  by  the promoter?

The general documents to be submitted are

  1. Birth certificate
  2. 15 years Residency certificate,
  3. Aadhar card
  4. PAN card
  5. Election card
  6. Copy of bank passbook
  7. Self declaration by the applicant in the prescribed format.

What are the documents of the guarantor required?

  1. Birth certificate
  2. 15 years Residency certificate,
  3. Aadhar card
  4. PAN card
  5. lection card
  6. Copy of latest house tax if loan is less the Rs 6 lakhs
  7. Notarised copy of title of immoveable property owned if loan is more then Rs 6 lakhs

In case the premises is taken on rent what are the documents required

  1. NOC  from the lessor in the prescribed EDC format
  2. Latest House tax receipt of the said premises in the name of the lessor.

In case I am sanctioned GTEGP loan , am I eligible for a second loan  for expansion

No.

What happens if I default in payment of loans?

If the borrower fails to repay the loan amount including interest thereon as per repayment schedule, the same shall be recovered from the borrower/guarantor under provisions of the Goa Public Monies (Recovery of dues) Act, 1986 (PMRA)/ Land Revenue Code (LRC) and/or section 29, 30, & 31 of SFC’s Act, or SARFAESI Act or Recovery of Debts Due to Bank Act (DRT) and/or any other provisions of Law.

Am I entitled for any subsidy under the GTEGP scheme?

Yes. An amount equal to 38%  of the project cost will be sanctioned as subsidy.

Do I have to repay the subsidy

No. However in case of default the subsidy is repayable back proportionately 

What happens if I default in  payment.

No subsidy is payable on and on the defaulted EMIs.  Subsidy can be resumed on payment of defaulted EMIs but only for the balance amount or for fresh EMI.

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