| The corporation provides financial assistance for - |
| 1. wide range of income generating activities to disabled persons. |
| These are - |
| For setting up small business in Service/Trading sector : |
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| Loan up to Rs. 1.0 lakh for sales/trading activity and Rs. 3.00 lakh for service sector activity. |
| The small business, project or activity, for which financial assistance has been sought will have to be operated by the disabled person himself and employing at least 15% disabled persons in his venture. |
| For purchase of vehicle for commercial activity : |
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| Loan upto Rs. 5.00 lakh. |
| Purchase of vehicle including auto rickshaw for commercial activity purpose. |
| For setting up small industrial unit : |
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| Loan upto Rs. 5.00 lakh. |
| Loan assistance is provided to disabled persons for manufacturing, fabrication and production. The disabled person will be the owner/chief executive of the company and will employ at least 15% disabled persons. |
| For Agricultural activities : |
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| Loan upto Rs. 5.00 lakh |
| Loan assistance is provided to disabled persons for agricultural production, irrigation, horticulture, sericulture, purchase of agricultural machinery/equipment for agricultural service, marketing of agricultural products etc. |
| For self-employment amongst persons with mental retardation, cerebral palsy and autism : |
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| Loan upto Rs. 3.00 lakh |
| In such cases, the financial assistance is extended through parents or legal guardian or spouse of the dependant mentally disabled person |
| 2. Loan for Education/Training to Disabled Persons : |
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| Purpose - |
| To meet tuition and other fees/maintenance cost/books and equipment etc. for pursuing professional courses in a recognised educational institution in India and abroad. |
| Eligibility -
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| a) Any Indian Citizen with 40% or more disability. |
| b) Parents/guardian should have regular source of income. |
| c) Annual income of parents/guardian should be below Rs. 5,00,000/- (Rupees Five Lakh only). |
| d) Should have passed previous examination with minimum 2nd division (50% aggregate marks) or equivalent grade. |
| Type of Loan |
| Term Loan |
| Borrower - |
| Disabled student and parent/guardian jointly. |
| Amount of Loan |
| Need based finance subject to the repaying capacity of the parents/students with the following ceilings - |
| i) Studies in India - Maximum Rs. 7.50 lacs |
| ii) Studies Abroad - Maximum Rs. 15 lacs |
| Promoter's Contribution - |
| i) Upto Rs. 4.0 lakh - Nil |
| ii) Above Rs. 4.0 lakh for courses in India - 5% |
| iii) Above Rs. 4.0 lakh for courses abroad. - 15% |
| Rate of Interest |
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| i) Upto Rs. 50,000/- - 5% p.a. |
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| ii) Above Rs. 50,000/- and upto Rs. 5.0 lakh - 6% p.a. |
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iii) Above Rs. 5.0 lakh - 8% p.a.
Rebate
A rebate of 1% p.a. on interest to women beneficiaries. |
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| Repayment of Loan |
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| i) The loan to be repaid within 7 years after commencement of repayment. |
| ii) The repayment as per repayment schedule would commence after 6 months from the date of scheduled completion of the course or after getting the job, whichever is earlier. |
| iii) Interest on term loan would be charged from the date of disbursement of loan from NHFDC (grace period as per lending policy is permissible). |
| iv) The beneficiary will submit the copy of marks-sheet after every term/semester to the SCA for further submission to NHFDC. |
| 3. Financial Assistance for Skill & Entrepreneurial Development |
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| Objective - |
| The objective of the scheme is to provide training to the disabled persons to make them capable and self-dependent through proper technical training in the field of traditional and technical occupations and entrepreneurship. Financial assistance is provided in the form of grant through the SCAs. |
| Scope - |
| The scope of the scheme is limited to |
| i) the beneficiaries who have received loan from NHFDC through the SCA and are successfully pursuing their income generating activity. |
| ii) beneficiaries who have been sanctioned loan and are awaiting to receive loan. |
| iii) potential beneficiaries who wish to avail loan from NHFDC and fulfill the eligibility criteria for availing loan. |
| Eligibility - |
| The beneficiaries should fulfill the eligibility criteria for availing loan from NHFDC. |
| Duration of Training - |
| From 5 (five) days to 3 (three) months. |
| Amount of Grant |
| i) The total grant under the scheme to SCA in a financial year is limited to 1% of the disbursed amount (less refund of loan) upto the end of previous financial year to the SCA. |
| ii) 85% of the total cost of the training programme is provided by NHFDC. The remaining 15% of the cost of the training programme is to be shared by the respective SCA. |
| Procedure for Obtaining Financial Assistance |
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The training proposal is to be submitted to National Handicapped Finance and Development Corporation by the State Channelising Agency. The training proposal is to be prepared in accordance with the guidelines for preparation of training proposal under the scheme. |
| Training Institutes |
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The SCA may identify suitable training institute preferably Government training institutes like Industrial Training Institute (I.T.I.), Polytechnic, Engineering College, Agriculture University, National Institute for Entrepreneurialship and Small Business Development etc. Training proposal can also be submitted involving reputed private training institutes. In such cases, profile of the institute, its past record particularly training conducted for the disadvantaged section of the society etc. should be submitted. For conducting training for visually and speech & hearing impaired, the facilities of the institute should be examined and indicated in the training proposal. |