What are the documents required for getting a loan for starting business ?
Qualification and other details required for bank loan under Tamil Nadu Government’s UEGEP Plan.
Are there any conditions/qualifications such as family income, etc (apart from age & qualification) to get a loan under UEGEP plan?
Yes! There are conditions. Even though the loans are intended for educated unemployed, the individual’s economic family background is also a factor. This is in order to ensure that PEOPLE WHO CAN AFFORD THE MONEY DO NOT GET THE LOAN FACILITY.
As per this, the annual income of the family income should not exceed Rs. 1.50 Lakhs per annum. Also, the applicants should not have availed any loan under other subsidy schemes. The applicant should not have defaulted on any bank loan payments.
Are there any time limits sets for returning the bank loan?
The amount taken as loan, not including the subsidy amount, should be paid back to the bank within 5 years from the date of receiving the loan.
Which are the banks giving loans under this scheme?
All commercial banks, all nationalised banks, and Tamil Nadu Cooperative Industrial Banks give loans.
Where is the application form available for applying loan under the UEGEP plan?
They are available free in regional Industrial Centres in each district. The form has to be filled up and submitted.
What are the documents to be attached along with the application?
School/College Transfer Certificates, the details of the machinery for starting the industry, the quotation for the same, copy of caste/community certificate, the project report, copy of the Family card (or any other residential proof such a letter from the Ward officer), if from a military background or differently-abled, the certificates for the same, 2 passport-size photographs, and declaration bond.
