Application Procedure for Term Loan provided by WBMDFC

WEST BENGAL MINORITIES DEVELOPMENT & FINANCE CORPORATION
(A Statutory Corporation of Govt. Of West Bengal)
An ISO: 9001-2008 Certified Organisation

APPLICATION PROCEDURE FOR TERM LOAN

West Bengal Minorities Development & Finance Corporation invites application in the prescribed form for Term Loan upto Rs. 1,00,000/- ( Rupees. One Lakh) only for persons belonging to the notified Minority Communities i.e. Muslim/ Christian/ Buddhist/ Sikh and Parsee for their economic upliftment.

The applications may be Submitted round the year at the following places :

(i) B.D.O Office: In case of rural area

(ii) SDO office: In case of municipal area other than KMC.

(iii) For Kolkata District: AMBER, DD-27/E, Sector-I, (1st Floor), Kolkata – 700 064

The application form are available at the above mentioned places and also at our website: www.wbmdfc.org

Eligibility Criteria for Loan Application

(i) Applicant must be a permanent resident of the area.

(ii) He /She must belong to the notified Minority Communities i.e. Muslim/ Christian/ Buddhist/ Sikh/ Parsee/ Jain.

(iii) Applicant’s annual family income must be below Rs. 81,000/- (Eighty one thousand) only for Rural areas and Rs. 1,03,000/- (One Lakh three thousand) only for Urban Areas.

(iv) Guarantor is to be provided as fellow:

(a) For Loan upto from Rs. 25000 to Rs. 50000 – by a Tax Payee or Professionally qualified person
(e.g. Doctor, Engineer etc.) (age limit 60 years)

(b) For Loan above Rs. 50,000 – by a Govt./ Semi Govt. Employee/ Teacher/ A Good Beneficiary of WBMDFC. (age limit 60 years)

(v) The applicant must have knowledge & experience in respect of the business for which they are Applying.

(vi) The applicant must not be a loanee/ Defaulter in respect of loan taken from any Bank/ Financial Institution.

(vii) Applicant must be between 18 to 50 year of age as on 1st January of the year in which they are applying for the loan.

Term loan above Rs. 1 Lakh and up to Rs. 5 Lakh must accompany the following documents.

(1) Trade Licence for at least 3 (three) years.

(2) Audited account for at least 3 (three) years.

(3) Project report duly verified by DIC.

(4) Bank Statement for at least 3 (three) years.

(5) Small Scale Industry Registration in case of production unit.

(6) Proof of Business/ Business places and any other document to prove the soundness identity from/ soundness of the Loanee in this respect.

(7) Any other document which may be required to prove the identity, residence.