Approval to implement seed capital scheme for businesses.
Financial assistance ranging from Rs. 25,000 to Rs. 2 lakh is available.
Three types of loan schemes are included under the scheme.
Mumbai : In order to financially empower transgender people and bring them into the mainstream of self-employment, approval has been given to implement a seed capital scheme for self-employment and business of transgender people. This scheme will provide financial assistance ranging from Rs 25,000 to Rs 2 lakh.
The objective of this scheme is to provide financial assistance to transgenders for self-employment. To create sustainable employment through skill development and entrepreneurship training. To promote economic, social, educational and cultural development. To provide seed capital for starting small industries and micro businesses.
Three types of loan schemes have been included under the scheme. Financial assistance of up to Rs 25,000 will be provided in the small loan scheme, up to Rs 50,000 in the medium loan scheme and up to Rs 2 lakh in the long loan scheme. In each scheme, the fund has been structured in the proportion of 5 percent beneficiary share, 45 percent government subsidy and 50 percent bank loan. Beneficiaries who repay the loan regularly will also get the special benefit of 3 percent interest subsidy.
The applicant must fulfill the following conditions. Must be a resident of the state of Maharashtra for at least 10 years. Must have a third-party identity card issued by a competent authority. Must be between 18 and 50 years of age. Must be capable of doing business. Must not have previously availed the benefits of any other seed capital scheme. If there is any business skill, it must be mentioned. No guarantor or collateral is required for this scheme.
Through this scheme, loans will be available for various businesses like vegetable stalls, tea and snacks centers, Xerox and lamination centers, fruit stalls, flour mills, cloth bag manufacturing, stationery shops, mini freight tempos, general stores, ice cream factories, juice centers, bakeries, bangle shops, potato wafers manufacturing, beauty parlors, salons, chicken and fish sales centers, mobile shops, spice manufacturing, laundry businesses, as well as plumbers, electricians, AC, mobile and home appliance repair.
The documents required to apply are as follows: Domicile certificate of 10 years of residence in Maharashtra, Third Party Identity Card, Aadhar Card, Voter Identity Card, PAN Card, Ration Card, Light Bill etc., Proof of business premises, Quotation of machinery or materials, Lease Agreement (if applicable), No Objection Certificate of the landlord, No Objection Certificate of the local self-government body, Affidavit, Two passport size photographs are required. Interested third parties should download the application form from the relevant link given in the form prescribed by the government and submit the filled application along with the required documents to the Assistant Commissioner, Social Welfare Office of the district, the Assistant Commissioner of Mumbai Suburban has informed in a press release.