Objective -
This scheme is for professionally educated unemployed disabled youth. In order to inculcate the spirit of self-confidence among such disabled youths through self-employment and utilise their wisdom & experience gained through professional training & education, the Corporation provide loan at the rate of 4-8% p.a. to professionally educated / trained disabled youths.
Eligibility -
1. Any Indian Citizen with 40% or more disability.
2. Age between 18 and 35 years
3. Should have obtained a professional degree from recognized Institute.
4. The activity proposed should be directly relevant to the professional degree of the applicant
Maximum Limit of Loan -
The maximum loan limit is Rs. 25.0 Lakh.
Pattern of Finance
i) NHFDC Loan : upto 85%
ii)SCA Loan share : 5%
iii) Beneficiary contribution : upto 10%
Rate of Interest -
i) Upto Rs. 50,000/- - 5% p.a.
ii) Above Rs. 50,000/- and - 6% p.a. upto Rs. 5.0 lakh
iii) Above Rs. 5.0 lakh - 8% p.a.
Rebate - A rebate of 1% p.a. on interest for young professional disabled women
Repayment Period - The loan is to be repaid within 10 years (including moratorium period).
Working Capital - NHFDC will consider a working capital margin of up to 30% of the estimated requirement.
Illustrative list -
Doctor; Architect; Engineer including Software/Hardware/Automobile; Advocate ; Chartered Accountant/ Cost Accountant; Hotel Management, Geriatric Home Care; Publicity and Advertisement; Service and Maintenance of Building : Security Guard Agency; Coaching Centres for Competitive Examination, Culture and Tourism Development; Printing Press/DTP/Graphics etc.; Fashion Designing/Boutiques; Textile Designing; Ornamental / Sculpture; Value addition in traditional Art & Craft etc.
The above list is only illustrative and not exhaustive. The eligible youth may get financial assistance for any other technically feasible and financially viable project.
It is expected that such professionally managed ventures will create equal number of wage employment opportunities for skilled /semi-skilled workers and add to the wealth of the nation.
The youth who have already obtained loan assistance pursuing higher professionals education may also be considered for providing additional loan establish self-employment income generating ventures, however, the loan limit should not exceed Rs.25.00 Lakh per beneficiary including education loan.
Source: National Handicapped Finance and Development Corporation Website