Weaver MUDRA

· Loans sanctioned up to Rs 10.00 Lakhs Concessional Credit

· Loans sanctioned above Rs. 10.00 Lakhs and upto Rs. 100.00 Lakhs

ii)                  Self Help Groups

iii)                Joint Liability Groups

iv)                Handloom organizations, including Primary Handloom Weavers’ Co-operative Societies, Apex Handloom Weavers’ Co-operative Societies, State Handloom Corporations

v)                  (v) Special Purpose Vehicle (SPV)/consortia promoted by handloom weavers in Mega Cluster/Handloom Parks etc.

vi)                Handloom Producer Companies

·         Pehchan card issued by the O/o DC (Handlooms)

·         Yarn passbook

·         Identity card issued by the State Government

·         Handloom Organization – Registration Certificate, Balance Sheet, Profit & Loss Account, name of the weavers registered with Organization etc.

·         Handloom organization is required to approach the participating banks along with required documents etc. for availing loan benefits under the scheme.

Assistance

Individual Handloom Weaver / Weaver Entrepreneur – Margin Money assistance @20% of loan amount, subject to maximum of Rs. 25,000/-

Handloom organization – Margin money assistance @20% of loan amount, subject to maximum of Rs.20.00 lakh. (margin money @ Rs 2.00 lakhs for every 100 weaver/worker).

Margin money assistance to Primary Handloom Weavers’ Co-operative Societies/Apex Handloom Weavers’ Co-operative Societies/State Handloom Corporations will be provided on the recommendation of State Director of Handlooms.

Subvention

•       Subsidized loans at concessional interest rate of 6% for a period of three years from the date of first disbursal.

Difference between concessional ROI (6%) and Charged ROI will be eligible for interest subvention, subject to maximum Interest cap of 7%.

• The loans extended to the eligible handloom organizations will be guaranteed by the Credit Guarantee Fund Trust for Micro & Small Enterprises (CGTMSE). Guarantee cover will be effective from the date of disbursement of loan for 3 years.

• The credit guarantee fee paid on disbursed loan amount will be refunded to beneficiary by GOI for a period of 3 years.

Maximum credit guarantee would be covered on the loan amount disbursed upto Rs 1.00 Crore.

· Upto Rs. 0.50 Lakhs – Nil

· Above Rs. 0.50 Lakhs and upto Rs. 5.00 Lakhs – 10%

· Above Rs. 5.00 Lakhs and upto Rs. 10.00 Lakhs – 15%

Concessional Credit – as per MSME Credit Policy

Margin requirement in addition to margin money assistance, if any to be borne by the beneficiary

•         Loan Tenor – Maximum 3 years

·         Working Capital: To be renewed on annual basis as per the extant guidelines

CGTMSE coverage to be taken mandatorily both in case of Weavers Mudra & Concessional Credit.

Scheme