Term Loan and MWEP (Individual)

Term Loan

Description:

West Bengal Minorities’ Development & Finance Corporation is providing the Term loan up to Rs. 5 lakh for persons belonging to the notified minority communities. Repayment with @ 6%-8% interest in equal 20 quarterly installments in 5 years.



Eligibility Criteria:

  • Annual family income for rural area must be within Rs.98,000/-(Rupees Ninety eight thousand) and for urban Areas it should be within Rs 1, 20,000/- (Rupees One lac twenty thousand) only.
  • Guarantor required for the application for more than Rs.50,000/-. For Loan from Rs. 50,001/- to Rs.1 lakh–A Tax payer or professionally qualified person (e.g. Doctor, Engineer etc.) and For loan above Rs. 1 lakh/- -- A Govt./Semi Govt. Employee/Teacher or a good beneficiary of WBMDFC.
  • Applicants having training & experience in respect of the business for which he/she is applying, will get preference.
  • Applicant’s age must be between 18 to 50 years
  • Must have savings Bank Account.

Collection & Submission of Application form:

Application forms may be collected from the Minority office situated in the office of the District Magistrate, Sub Divisional Officer ( S.D.O.) or Block Development Officer (B.D.O.). It is also available in the website of the corporation www.wbmdfc.org . The application may be submitted round the year (on any working day) in prescribed format at the local Block Development Officer's (B.D.O.). office in case of rural areasand in Sub Divisional Officer's( S.D.O.) Office, in case of urban areas. In case of Kolkata, it should be submitted at the office of District Officer Minority Affairs at Minority Bhavan, 11/3 Dr.Briesh Guha Street, Park Circus, Kolkata-700017. Photocopy of the Voter Card/ Aadhaar card/ Pan Card /Residential Certificate/ Trade License to be attached with the Application. If the applicant is a loanee/Defaulter in respect of loan taken from any Bank/Financial institutions, he/she will not be eligible for consideration.More than one family member will not be given the benefit.

Minority Women Empowerment Programme

Description:

This programme is launched by MA & ME Deptt. ,Govt. of West Bengal for providing soft loan maximum upto Rs.40,000/- per member to Minority women for any income generating activity or business such as small business, cottage industry, Handicrafts etc. at the rate of 3% interest.. Subsidy @50% of loan amount, subject to a maximum of Rs.15000/-, is given to each beneficiary.



Eligibility Criteria:

Collection & Submission of Application form:

Collection & Submission of Application form:Application should be submitted in prescribed format of Corporation. For further detail about application concerned district Office may be contacted. Application may be submitted at any time of the year.The financial assistance is provided subject to the availability of funds.