What you get
A loan covering 50% of the project cost.
Who can apply
The spinning mill must collect a minimum of ₹80,00,000/- or at least 5% of the project cost as member shares.; The project submitted by the spinning mill must be enumerated by recognized financial institutions/banks, which will also check the project report.; Maharashtra Industrial & Technical Consultancy Organization Ltd. (MITCON), Pune.; Agriculture Financial Corporation, Mumbai.; Dattajirao Technical Institute, Ichalkaranji.
Required Paperwork
- Aadhaar Card
- PAN Card
- Income Certificate
- Residence Proof (Domicile)
Common Questions
Who is eligible to apply?
Scheduled caste cooperative spinning mills.
What is the objective of the scheme?
To promote spinning mills owned by scheduled caste members.
What percentage of the project cost is funded?
The scheme provides 50% of the project cost as a loan.
How much must members contribute?
Members must collect a minimum of [?]80 lakhs or at least 5% of the project cost.
What is the enumeration fee?
The fee is [?]2.50 lakhs, to be borne by the spinning mill.
Where do I submit the application?
Submit the application first to the Textile Department, then to the Assistant Commissioner, Social Welfare District Office.
What documents are required for the application?
Completed application form, photographs, financial statements, project report, and self-attested documents.
How do I obtain the application form?
Visit the Textile Department to request a hard copy of the application form.
What happens after my application is approved?
You will need to submit the application to the Social Welfare Department for loan sanctioning.