Loan for Existing & New Business
A programme by NEDFi
A term loan for new and existing MSMEs in North East India, with the promoter funding a smaller share than under Project Finance.
At a glance
| Best for | New and existing MSMEs in North East India that need a term loan for a project. |
|---|---|
| Duration | Repayment up to 84 months |
| Cost | Paid |
About Loan for Existing & New Business
This is a medium to long term term loan for setting up new projects, or for expansion, diversification or modernisation, in manufacturing or services. It is a loan, not a grant.
What you get
- A term loan covering a larger share of project cost than Project Finance, so the promoter contributes less
- Repayment of up to 84 months, an implementation period of 18 months and a moratorium of up to 12 months
- Interest charged on a reducing balance
- No detailed project report needed for smaller loans
Who can apply
- Sole proprietors, partnership firms, LLPs and private limited companies
- New and existing MSMEs in manufacturing, services and trading
- Sectors listed include agriculture and allied, healthcare, textiles, food processing, education, hospitality, retail, infrastructure, handloom and handicraft
- The page also repeats a line about skilled women entrepreneurs aged 18 to 50, though it lists the general entity types. Ask NEDFi if you are unsure.
How to apply: Fill in the online loan application form on NEDFi's website. The state list in the form is limited to the eight north-eastern states.
Where to apply
Other NEDFi programmes
- North East Venture Fund (NEVF)A SEBI-registered Category I venture fund for startups, early stage and growth stage companies in North East India, managed by NEDFi's subsidiary NVCL.
- Manipur Startup Venture Fund (MSVF)A Category I venture fund for Manipur-based startups, with the Government of Manipur's Department of Planning as nodal agency and NVCL as investment manager.
- NRL Ideation Angel Fund (NRL IAF)A Category I angel fund managed by NVCL, with applications made on the Numaligarh Refinery Ideation portal rather than through NEDFi.
- Project FinanceA term loan for setting up, expanding, diversifying or modernising a manufacturing or services project in North East India.
- Working Capital LoanA one-time core working capital term loan for existing trading businesses based in North East India.
- Loan for Women EntrepreneursA term loan for skilled women entrepreneurs aged 18 to 50 starting a venture or expanding an existing one in North East India.