PRAGATHI UDYAM (PUDM)

1 ELIGIBILITY
Individual professionals, proprietorship/partnership firms and / or companies floated by the professionals like Chartered Accounts, Engineers, Construction Contractors, Surveyors, cost Accountants, Lawyers or Solicitors, management Consultants, Journalists, cameramen, Beauty Parlors or a person trained in any other art or craft who holds either a degree or diploma from any Institution established or a person technically qualified or skilled in the field in which he is employed.
2 PURPOSE
Advances could be considered for the purpose of purchasing equipment, machinery repairing or renovating the existing equipment and/or acquiring and repairing business premises or for purchasing tools, vehicles, durable utility articles/and/or working capital requirements etc, relating to the profession / activity only.
3 QUANTUM OF LOAN
The quantum of loan shall be in accordance with the requirement and eligibility norms, depending upon the merits of individual case.
4 REPAYMENT PERIOD
Purpose Repayment Period
Working Capital assistance (Single transaction s) 36 to 60 months
Working Capital in the form of OD/OCC Tenability period : 1 year
Term Loan assistance 5 to 7 years and in exceptional cases, up to 10 years
5 SECURITY
As per the guidelines issued from time to time,as applicable to MSME loans.