- Details
- Benefits
- Eligibility
- Exclusions
- Application Process
- Documents Required
- Frequently Asked Questions
- Sources And References
- Feedback
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Assam
Sarothi Scheme
Financial Assistance
Sarothi
Startup
Details
Detailed
The entrepreneurs of the State, more particularly the 1st generation entrepreneurs are facing problems to convert their ideas into reality due to a lack of adequate resources in the form of equity, loan, etc. Getting loans or financial assistance from banks/Financial Institutions for any new venture is a major problem in the State as Banks/Financial Institutions are very reluctant to provide loans considering it a risk for them.
To remove this hurdle of equity /fund crunch, the State Government has proposed to launch a new scheme called Chief Minister's Start-up fund “Sarothi” with an initial amount of Rs.10 Cr during 2016-17. The fund shall be managed by the Industries & Commerce Department as per its operational guidelines.
The scheme shall be operational from the financial year 2016-17 and shall be valid for a period of five years. The proposed guidelines of the scheme do not supplement the argument given above as it does not propose to give equity support, instant aimed at giving interest concession. The basic objective of the scheme is to provide financial assistance in the form of a loan with Interest subvention through a designated Bank covering the whole of Assam. The loan so availed by the beneficiaries will be supported by the State Govt. through Interest Subvention @ 5% P.A.
The coverage of the scheme shall be:-
- All innovative start-up industrial activities and the new individual applicants shall be eligible to get the benefit under the scheme.
- New MSME units.
- Priority shall be given to the applicant having any kind of skill development training.
- The applicant should not be a defaulter of any Bank/ Financial Institution
The objective of the scheme:
The basic objective of the scheme is to provide financial assistance in the form of loan with Interest subvention through a designated Bank covering the whole of Assam. The loan so availed by the beneficiaries will be supported by the State Govt. through Interest Subvention @5% P.A.
Designated Bank
The financial assistance has been proposed to be provided in the form of Interest Subvention on loan (Term Loan +Cash Credit) @ 5% P.A. initially through Assam Gramin Vikas Bank (AGVB) to applicant industries. Later on, Government may bring in more bank/s under the purview of the scheme.
Benefits
Financial Assistance
- The government provides financial assistance for startups in the form of loans with interest subvention
- The loan amount will be a maximum of Rs. 10.00 lakh.
Eligibility
Eligibility
- All innovative startup industrial activities and the new individual applicant will be eligible to get the benefit under the Sarothi scheme.
- New Micro, Small and Medium Enterprises (MSME) units in Assam are eligible for these benefits.
- Priority will be given to an applicant if he or she undergoes any skill development training.
- If the applicant is a defaulter of any Bank or Financial Institution, he or she will not be eligible for benefits under the Sarothi scheme.
Exclusions
Exclusions
- If the applicant has any pending legal cases, defaults on previous loans, or has a poor credit score, it may affect their eligibility for the scheme.
- If the applicant's proposed project is not feasible, sustainable, or does not align with the objectives of the scheme, their application may not be accepted.
Application Process
Online
Application Procedure:
- The application must be downloaded from the following link.
- The applicant should fill out the application and send it along with the required supporting documents to the appropriate District Industries & Commerce Centre (DICC) General Manager.
- Check the detail of the District Industries & Commerce Centre (DICC) General Manager with the following link.
Documents Required
List of required documents
- Application in the prescribed format ( as per Form-A)
- Two copies of the Passport size photograph ( black & white)
- Entrepreneurs Memorandum Part-I ( EM part-I), Udyog Adhar, as applicable.
- Scheme /Project Report of the proposed activity.
- Identity Proof:- ( Any of the following) Voter Identity Card/ PAN Card/ Driving License/ Job Card/ Aadhaar Card/ Identity Card
- Address Proof (Any of the following): - Electricity Bill/ Telephone Bill/ Bank Account Statement of any other bank/ Letter from reputed employer/ Letter from recognized public authority verifying the address of the customer to the satisfaction of the bank/ Ration Card /Voter Identity card
- Trade license, if any
- Certificate of training, if any
- Certificate of OBC/SC/ST/Physical handicraft, if any
- Any other documents likely to be provided by the applicant
Frequently Asked Questions
Is the scheme a direct benefit scheme ?
No
Is the scheme benefit available to all age group ?
Yes
Can only a specific gender avail the benefit of this scheme
No
Are the benefits actually going to benefit the citizen? Or is it a gimmic?
Yes, it is actually going to benefit the budding entrepreneurs.
Does the scheme provide benefit in form of equity or debt ?
The scheme provides funding in the form of equity, debt, or a combination of both, thereby enabling beneficiaries to retain control over their ventures.
Does the scheme account for 100% financial aid ?
No, the applicant must fullfil a minimum amount of 20% of the total project cost
Can citizen out of assam apply for the scheme ?
No
Is the application process a long procedure ?
No, the DICC has assigned a special team for the same, and the work day and night to hasten the application process.
Does the applicant required to show their financial performance ?
Yes, the applicant must show a) Proposed net Sales during current year(in Rs) : (b)Proposed net profit during current year (in Rs) : (c) Estimated net profit for next year ( in Rs)
Who is eligible for the scheme ?
Individuals, start-ups, MSMEs, and companies registered under the Indian Companies Act, 2013, are eligible for the Sarothi Scheme.
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Something went wrong. Please try again later.
You need to sign in before applying for schemes
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It seems you have already initiated your application earlier.To know more please visit
Apply Now
You need to sign in before applying for schemes
Something went wrong. Please try again later.
It seems you have already initiated your application earlier.To know more please visit
Apply Now
Check Eligibility
Assam
Sarothi Scheme
Financial Assistance
Sarothi
Startup
Details
Benefits
Eligibility
Exclusions
Application Process
Documents Required
Frequently Asked Questions
Detailed
The entrepreneurs of the State, more particularly the 1st generation entrepreneurs are facing problems to convert their ideas into reality due to a lack of adequate resources in the form of equity, loan, etc. Getting loans or financial assistance from banks/Financial Institutions for any new venture is a major problem in the State as Banks/Financial Institutions are very reluctant to provide loans considering it a risk for them.
To remove this hurdle of equity /fund crunch, the State Government has proposed to launch a new scheme called Chief Minister's Start-up fund “Sarothi” with an initial amount of Rs.10 Cr during 2016-17. The fund shall be managed by the Industries & Commerce Department as per its operational guidelines.
The scheme shall be operational from the financial year 2016-17 and shall be valid for a period of five years. The proposed guidelines of the scheme do not supplement the argument given above as it does not propose to give equity support, instant aimed at giving interest concession. The basic objective of the scheme is to provide financial assistance in the form of a loan with Interest subvention through a designated Bank covering the whole of Assam. The loan so availed by the beneficiaries will be supported by the State Govt. through Interest Subvention @ 5% P.A.
The coverage of the scheme shall be:-
- All innovative start-up industrial activities and the new individual applicants shall be eligible to get the benefit under the scheme.
- New MSME units.
- Priority shall be given to the applicant having any kind of skill development training.
- The applicant should not be a defaulter of any Bank/ Financial Institution
The objective of the scheme:
The basic objective of the scheme is to provide financial assistance in the form of loan with Interest subvention through a designated Bank covering the whole of Assam. The loan so availed by the beneficiaries will be supported by the State Govt. through Interest Subvention @5% P.A.
Designated Bank
The financial assistance has been proposed to be provided in the form of Interest Subvention on loan (Term Loan +Cash Credit) @ 5% P.A. initially through Assam Gramin Vikas Bank (AGVB) to applicant industries. Later on, Government may bring in more bank/s under the purview of the scheme.
Was this helpful?
Share
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