For Term Loan schemes costing upto Rs 2.00 lakh and Micro-Credit Schemes costing upto Rs 0.50 lakh per unit, no separate application is required. Sanction & Disbursement would be done for these schemes on receipt of Action Plan from SCAs having details such as name of schemes, number of units & beneficiaries, total cost, subsidy, SCA's share per unit, NSFDC share per unit and total NSFDC's share.
Applications for availing term loan from NSFDC under schemes costing above Rs 2.00 lakh through its SCAs should be submitted in the formats prescribed hereunder:
Format of application for financial assistance for Transport Sector (Form 3: Annexure-IV). These formats have detailed checklist of points to be covered while submitting the proposals to NSFDC.
Eligible applicants shall submit their project proposals to the SCAs as per the formats applicable to them and SCA shall forwarded this to NSFDC
The SCAs, while recommending proposals to the NSFDC within the eligibility criteria, shall undertake their willingness to:
Implement the schemes as sanctioned by NSFDC.
Provide their share of financial assistance and subsidy as applicable.
Monitor the project implementation and repay the loan.
Provide Government Guarantee/Bank Guarantee towards the assistance sought from NSFDC
The SCAs would, thereafter, take the following steps:
Compulsory registration of applications.
All applications, thus registered, to be examined in a time-bound manner by a duly constituted Selection Committee. The suitability of candidates should be judged on the basis of their experience in the line/educational qualifications.
The reasons for selection/rejection to be necessarily maintained in all such cases.
Selections/rejections to be necessarily communicated to the applicants as soon as possible.
Arrange for a field verification for any High Cost Scheme (with NSFDC's share exceeding Rs 5.00 lakhs), and forwarded such Project proposals along with Field Verification Report, giving the findings on and recommendation of the Field Officer.
Applications having project-cost exceeding Rs 5.00 lakhs should necessarily accompany Affidavits prescribed at Annexure-V . Such affidavits are also to be obtained under group proposals having NSFDC's Share of Rs 5.00 lakhs or more. This requirement is in addition to the submission of caste and income certificates by the Applicants in all cases.
Selections to be made in proportion to the sanctioned units with wait listing on first come first served basis.
Sanctions to be communicated to the beneficiaries as soon as the 'Letter of Intent' of a scheme is received from the NSFDC.
Sanction Letter to the beneficiary to include all the terms and conditions contained in the Letter of Intent as well as the documents required from him/her.
In selection of assets (within the sanctioned parameters), choice of beneficiaries to be a prime consideration.