What you get
- Financial Assistance: A loan limit of a minimum of ₹5,00,000/- and a maximum of ₹150,00,000/-.- Interest Concession: The borrower receives an interest concession of 1/2% less than the normal rate. | Conditions | - _The collateral security offered in the form of immovable property must be valued by engaging a Chartered Engineer or valuer from the approved panel of the Corporation._ | - _The applicant must acquire fixed assets, such as purchasing balancing equipment, replacement of machinery/equipment, or acquiring assets for setting up new units or expanding/modernizing existing units._ | - _The loan repayment period is 3 to 5 years, excluding the moratorium period._ | - _The applicant must offer collateral security in the form of immovable property._ | - _The value of the immovable property offered as collateral security must not be less than the term loan sanctioned, if the property is situated in the Union Territory of Puducherry._ | - _If the immovable property is situated outside the Union Territory of Puducherry, the value offered must not be less than 150% of the loan amount if it is land with building._ | - _If the immovable property situated outside the Union Territory of Puducherry is only land, the value offered must not be less than 200% of the loan amount._
Who can apply
Required Paperwork
- Aadhaar Card
- PAN Card
- Income Certificate
- Residence Proof (Domicile)
Common Questions
If the collateral security property, which includes land and existing buildings, is located outside of the Union Territory of Puducherry, what minimum value is mandated?
If the immovable property is situated outside the Union Territory of Puducherry and consists of land with a building, its value must be not less than 150% of the sanctioned loan amount.
What specific interest rate benefit or concession is granted to borrowers whose accounts are classified under the ‘B’ category standard?
Borrowers in the ‘B’ Category receive an interest concession equivalent to 0.5% less than the Pondicherry Industrial Promotion Development and Investment Corporation Limited’s normal interest rate.
What is the absolute highest financial assistance amount available for acquisition of fixed assets under this specific category of Good Borrowers?
The maximum loan limit permitted for disbursement under this scheme is ₹150,00,000/-.
For currently assisted Small Scale Industry or Medium Scale Industry units, what specific condition applies regarding previous loan reschedulement history?
Existing assisted units must not have obtained loan reschedulement for more than once to remain eligible under the 'B' Category.
Are there any special relaxations in the immovable property security requirement for enterprises promoted by Women, Scheduled Castes, Scheduled Tribes, or Differently abled persons?
Yes, for units promoted by Women, Scheduled Castes (SC), Scheduled Tribes (ST), or Differently abled persons, the collateral property value is reduced and fixed at 50% of the loan amount.
Excluding any initial moratorium period granted, what is the standard term or duration allowed for the repayment of this specific term loan?
The repayment period for this loan is generally set between 3 to 5 years, not including the applicable moratorium period.
What criteria must be satisfied if I am an existing transport operator borrower to be eligible for financial assistance under this special category?
Existing transport loanees must demonstrate that they have settled their previous loan promptly.
If my unit was originally assisted by a different financial institution or bank, am I still eligible to apply for this financial assistance?
Yes, units assisted by other financial institutions or banks can apply, provided they meet the standard criteria established for Good Borrowers.
If the immovable property being offered as collateral security is physically located within the Union Territory of Puducherry, what is the required minimum valuation relative to the loan amount?
The value of the immovable property situated in the Union Territory of Puducherry offered as security must be not less than the amount of the term-loan sanctioned.
If my existing assisted unit had obtained a reschedulement in the past, what must my current repayment status be to qualify?
After obtaining reschedulement, the existing assisted unit must demonstrate that it is regular in repayment.
Can the funding be applied towards enhancing the capabilities of an existing industrial unit, such as expansion, modernization, or replacing old machinery?
Yes, the loan can be utilized for the expansion, modernization, diversification, purchase of balancing equipment, or the replacement of machinery/equipment of existing units.
If my business unit was assisted by institutions or banks other than the Pondicherry Industrial Promotion Development and Investment Corporation Limited, must my fixed assets be unencumbered?
Yes, units assisted by other institutions or banks must ensure that the fixed assets in their existing units are free from encumbrance.
May I utilize the sanctioned loan amount specifically for acquiring fixed assets necessary for the establishment and setting up of brand new units?
Yes, the loan purpose explicitly covers the acquisition of fixed assets required for setting up new units.
What is the lowest financial assistance amount that an eligible Good Borrower can request when applying under this specialized scheme?
The minimum loan limit that can be availed under this scheme is ₹5,00,000/-.