SBB480

Equipment Finance (Northeastern Development Finance Corporation Ltd Schemes)

The Equipment Finance scheme by the Northeastern Development Finance Corporation Ltd provides financial assistance ranging from Rs. 25 lakh to Rs. 10 crores for startups. Eligible applicants include corporates with a minimum of three years of profitable operations for NEDFi assisted units, or five years for other units.

Central

States / UT: All India

Ministry / nodal: Ministry of Development of North Eastern Region

Department: Development of North-eastern Region

Nodal department: Development of North-eastern Region

Scheme for: Startups

Scheme profile

DBT (direct benefit transfer): No

Target beneficiaries: Startups

Tags: startups

Details

Brief

This scheme intends to provide financial assistance for acquiring specific machinery/ equipment by financially sound and profit-making companies having a good credit record. The proposed unit should be located in any of the eight North Eastern States.

Eligibility

  • Corporates with minimum 3 years of profitable operations for NEDFi assisted units, in case of other units the unit should have minimum 5 years of operations.

Benefits

  • - Minimum: Rs.25 lakh, Maximum: Rs.10 Crores financial assistance
  • Minimum: Rs.25 lakh, Maximum: Rs.10 Crores financial assistance

Eligibility

  • Corporates with minimum 3 years of profitable operations for NEDFi assisted units, in case of other units the unit should have minimum 5 years of operations.

Application Process

Online / portal

Official application / information link: https://my.msme.gov.in/MyMsmeMob/MsmeScheme/NorthEasternDevlop.htm

Source listing: https://www.startupindia.gov.in/content/sih/en/government-schemes.html

References

Apply

Apply now

Opens the official application or programme portal in a new tab. If in doubt, confirm details on the ministry site.

Documents Required for Government Schemes

Most government schemes require basic documents for verification. While the exact requirements vary, common documents include:

  • Aadhaar Card
  • Income Certificate
  • Caste Certificate (if applicable)
  • Residence Proof
  • Bank Account Details
  • Educational Certificates (for student schemes)

How to Apply for Government Schemes?

The application process for government schemes may be online or offline depending on the scheme. In most cases, you can follow these steps:

  1. Check eligibility criteria
  2. Collect required documents
  3. Fill the application form
  4. Submit the application online or at the relevant office
  5. Track application status