Scheme for North East Handloom and Handicrafts (SNEHH)
Printer-friendly versionObjectives:
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
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The scheme is designed to help the manufacturers/designers/exporters of handloom and handicrafts products from the North-East India. |
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The proposed units could be proprietorship, partnership or a company |
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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
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Project cost : Maximum Rs.25 lakhs |
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Term Loan Assistance : Up to 75% of the project cost. |
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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
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Mortgage / hypothecation of the assets of the unit |
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Personal guarantee of the promoters and one / two respectable persons having the capability to repay the loan |
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Collateral security depending on the project size/ any other security, if necessary. |
Documentation: As per standard procedure of the Corporation.
