Scheme for North East Handloom and Handicrafts (SNEHH)

Objectives:

The objective of the scheme is to promote enterprises in handloom and handicrafts sector and to provide a platform for sustainable economic growth by promoting the local artisans.

Eligibility conditions

•	The scheme is designed to help the manufacturers/designers/exporters of handloom and handicrafts products from the North-East India.
•	The proposed units could be proprietorship, partnership or a company
•	The promoters or their units must not be a defaulter in any government scheme and/or with any bank/NGO. They must have a clean track record

Nature and Extent of Finance

•	Project cost : Maximum Rs.25 lakhs
•	Term Loan Assistance : Up to 75% of the project cost.
•	Promoter’s contribution : Minimum 25% of the project cost.

Interest Rates = 8%

Upfront Fee : 1% of the Term Loan portion of the assistance.

Repayment Period : 3 – 7 years (including moratorium on principal repayment)

Security

•	Mortgage / hypothecation of the assets of the unit
•	Personal guarantee of the promoters and one / two respectable persons having the capability to repay the loan
•	Collateral security depending on the project size/ any other security, if necessary.

Documentation: As per standard procedure of the Corporation.

public notice/alert

Fictitious selling of NEDFi's Loan Application Form

“GENERAL PUBLIC ARE REQUESTED NOT TO FALL PREY TO ANY PERSONS/AGENCIES ACTING AS NEDFi AUTHORISED PERSONS /AGENCIES WHO ARE FICTITIOUSLY OR FRAUDULENTLY SELLING/ISSUING NEDFi’S LOAN APPLICATION FORMS WITH FALSE PROMISE TO SANCTION LOAN. NEDFi SHALL NOT BE RESPONSIBLE FOR ANY LOSS/DAMAGE CAUSED BY SUCH FICTIOUS OR FRAUDULENT PRACTICES BY ANY UNAUTHORISED THIRD PARTIES.”.