Providing affordable Working Capital loan to street vendors to resume their livelihoods that have been adversely affected due to Covid-19 lockdown.
Provision of collateral free working capital loan of up to Rs 10,000.
Interest subsidy @ 7% per annum is available.
Loan Amount: Urban street vendors will be eligible to avail a Working Capital (WC) loan of up to Rs 10,000.0n timely or early repayment, the vendors will be eligible for the next cycle of working capital loan with an enhanced limit.
Facility Type: Working Capital Demand Loan facility (Term Loan to be opened)
Loan Period: The tenure of the loan shall be 1 year. Loan shall be paid in 12 Equated Monthly Installments (EMI).
No Collateral security shall be obtained for loans under the scheme
The Scheme has a provision of Graded Guarantee Cover for the loans sanctioned to be administered by Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).