This scheme is for individual beneficiaries and is implemented through the SCAs.
Assistance under Term Loan Scheme is available for any commercially viable and technically feasible venture, which for the purpose of convenience, are classified into the following sectors: Agriculture & allied, Technical trades, Small business, Artisan and traditional occupations, and Transport and services sector.
Respective State Channelizing Agencies (SCAs) nominated by respective State/UT Government implement this scheme. Generally each Channelizing Agency has an office at district level where the beneficiary is required to make formal application.
The beneficiaries need to contact their respective SCA (the details of the state wise SCAs are mentioned in the document below) and the SCA will link the loan account to the Aadhar Card (though other biometric identification proof wil also work).
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The rate of interest charged from the beneficiary is 6% pa on reducing balance method.
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