What is the purpose of Term Loan Scheme?

Term Loan Scheme is a government welfare initiative designed to support Individual, Individual through benefits related to Business & Entrepreneurship, financial assistance, subsidies, social welfare, healthcare, education, or livelihood support.

Who can apply for Term Loan Scheme?

Eligibility for Term Loan Scheme may depend on factors such as income category, age, gender, occupation, state of residence, social category, and government-defined beneficiary criteria.

What benefits are offered under Term Loan Scheme?

Benefits under Term Loan Scheme may include financial assistance, subsidies, scholarships, insurance support, healthcare benefits, pension support, training assistance, or welfare services depending on the scheme guidelines.

Which department manages Term Loan Scheme?

Term Loan Scheme is managed by Social Justice and Special Assistance Department and may be implemented through district offices, online portals, CSC centres, banks, or authorised government agencies.

Can users apply online for Term Loan Scheme?

Yes, eligible applicants may be able to apply online for Term Loan Scheme through official government portals, authorised service centres, or digital application systems depending on the implementation process.

Is Aadhaar mandatory for Term Loan Scheme?

Many government schemes may require Aadhaar verification, identity proof, or linked bank account details for beneficiary validation and direct benefit transfer processing.

Where can users apply for Term Loan Scheme?

Applications for Term Loan Scheme may be submitted through government departments, official scheme portals, CSC centres, district offices, welfare departments, or authorised service centres.

What documents may be required for Term Loan Scheme?

Applicants may need Aadhaar card, income certificate, residence proof, bank account details, caste certificate, photographs, educational records, or occupation-related documents depending on scheme eligibility requirements.

Is income certificate required for Term Loan Scheme?

Income certificate requirements may vary depending on beneficiary category, subsidy eligibility, and financial assistance criteria defined under Term Loan Scheme.

Is Term Loan Scheme available in all states?

No, Term Loan Scheme is primarily available for eligible residents of Maharashtra and may be implemented through state government departments and local administrative offices.

Can residents outside Maharashtra apply for Term Loan Scheme?

Eligibility for Term Loan Scheme is generally limited to residents of Maharashtra unless otherwise specified in the official scheme guidelines.

Can students apply for Term Loan Scheme?

Eligible students studying in recognised institutions may apply for Term Loan Scheme depending on educational qualification, category, income limit, and academic eligibility.

Is scholarship amount provided under Term Loan Scheme?

Term Loan Scheme may provide scholarship assistance, tuition support, educational reimbursement, or financial aid for eligible students.

Does Term Loan Scheme provide healthcare or insurance support?

Term Loan Scheme may provide healthcare assistance, insurance coverage, cashless treatment support, medical reimbursement, or hospital-related benefits depending on the scheme structure.

Can beneficiaries use Term Loan Scheme at government hospitals?

Eligible beneficiaries may be able to access services at empanelled hospitals, government healthcare facilities, or authorised healthcare providers depending on scheme participation rules.

Does Term Loan Scheme provide business loan or startup assistance?

Term Loan Scheme may support entrepreneurs, startups, self-employed individuals, MSMEs, or small businesses through financial assistance, subsidies, credit support, or training initiatives.

Is collateral required under Term Loan Scheme?

Collateral requirements may vary depending on the loan amount, implementing agency, financial institution, and government subsidy structure.

Can CSC centres help users apply for Term Loan Scheme?

Many government schemes may be accessible through nearby CSC centres, authorised digital service centres, or welfare facilitation offices.

How can users check the latest updates for Term Loan Scheme?

Users should verify official notifications, department announcements, application deadlines, and eligibility updates through authorised government portals or implementing agencies.

Can beneficiaries track application status for Term Loan Scheme?

Certain schemes may provide online application tracking, beneficiary verification systems, or status-check facilities through official portals.

Where can users get help for Term Loan Scheme in Maharashtra?

Users in Maharashtra may seek assistance through CSC centres, district welfare offices, government departments, agriculture offices, social welfare departments, or authorised facilitation centres.

Which nearby public services may help with Term Loan Scheme applications?

Depending on the scheme, users may require support from Aadhaar centres, CSC centres, banks, hospitals, post offices, or government welfare offices for document verification and application assistance.

Term Loan Scheme – eligibility, benefits & apply

Scheme profile

DBT (direct benefit transfer): No

Categories: Business & Entrepreneurship, Banking,Financial Services and Insurance

Sub-categories: Loan, Employee management

Target beneficiaries: Individual

Tags: BPL, Loan, Below Poverty Line, Employment

Details

The scheme "Term Loan Scheme" by the Department of Social Justice & Special Assistance, Government of Maharashtra and funded by the National Scheduled Castes Finance and Development Corporation (NSFDC), aims to uplift economically disadvantaged members of the Charmakar community (Dhor, Chambhar, Holar, Mochi, etc.). The scheme focuses on their educational, economic, and social advancement, helping them secure a respectable place in society. It also supports the production of various types of footwear and leather goods for supply to government departments and sale in the open market.

Benefits

Loan Amount:
NSFDC provides Term Loans ranging from ₹1,00,000 to ₹2,50,000 for various schemes, with separate limits for vehicle loans. Project Financing:
NSFDC finances 75% of the project cost. The corporation provides 20% as a Seed Loan. ₹10,000 is provided as a subsidy
The remaining 5% of the project cost is contributed by the beneficiary. Interest Rates: For Loans up to ₹5,00,000: NSFDC charges 7% per annum. The corporation charges 4% per annum. For Loans above ₹5,00,000: NSFDC charges 8% per annum. The corporation charges 4% per annum
Repayment Terms : Loan instalments are payable monthly over a period of up to 60 months.- This structure ensures clear and concise information about the Term Loan Scheme for potential beneficiaries

Loan Amount:

NSFDC provides Term Loans ranging from ₹1,00,000 to ₹2,50,000 for various schemes, with separate limits for vehicle loans.

Project Financing:

NSFDC finances 75% of the project cost. The corporation provides 20% as a Seed Loan. ₹10,000 is provided as a subsidy.
The remaining 5% of the project cost is contributed by the beneficiary.

Interest Rates:

For Loans up to ₹5,00,000: NSFDC charges 7% per annum. The corporation charges 4% per annum.

For Loans above ₹5,00,000: NSFDC charges 8% per annum. The corporation charges 4% per annum.

Repayment Terms: Loan instalments are payable monthly over a period of up to 60 months.- This structure ensures clear and concise information about the Term Loan Scheme for potential beneficiaries.

Eligibility

The applicant should be a permanent resident of Maharashtra.
The applicant should belong to the Charmakar Community.
The applicant's age should be between 18 and 50 years.
For the 50% Subsidy Scheme and Margin Money, the applicant's annual income should be below the poverty line.
The applicant should be able to provide an Income and Caste Certificate from an authorized government officer.
The applicant should have knowledge of the business for which they are applying for the loan.
For the NSFDC Scheme:

Income should be below ₹98,000 for rural areas.
Income should be below ₹1,20,000 for urban areas.

How useful is this scheme?

Public benefit analysis

A practical look at this scheme for citizens

AI-generated insights showing how useful, accessible, and practical this scheme may be — combining deterministic scoring rules with a public-policy LLM analyst.

6.4

/ 10

Public Benefit Score

Accessibility 6.0/10 Moderate

Rural usefulness 7.0/10 Good

Application complexity 5.0/10 Moderate

Financial impact 9.0/10 Good

Literacy barrier 2.0/10 Good

Women inclusivity 5.0/10 Moderate

Awareness 4.5/10 Moderate

Implementation reliability 7.0/10 Good

Bigger shape means a better fit for citizens

Accessibility6.0
Financial impact9.0
Rural utility7.0
Awareness4.5
Simplicity5.0
Inclusivity5.0

What problem does this scheme solve?

The Term Loan Scheme aims to support economically disadvantaged members of the Charmakar community in Maharashtra by providing financial assistance for business development.

Key challenges addressed

Financial support for business establishment
Upliftment of economically disadvantaged communities

Most beneficial for

Members of the Charmakar community
Individuals seeking to start or expand a business

Likely challenges

Complex application process
Need for specific documentation

Practical insights for citizens

Practical for those with business knowledge but challenging for first-time applicants

Rural challenges

Limited access to information
Transportation to district offices

Implementation bottlenecks

Dependence on local authorities for processing

Awareness challenges

Low awareness among target beneficiaries

Application analysis

Application mode: Offline office
Documents burden: Moderate, requires multiple documents
Verification complexity: Moderate, involves income and caste verification
Office dependency: High, requires visit to district office
CSC support: Limited
Estimated citizen effort: High, due to multiple steps and document requirements

Estimated beneficiary reach

Rural / urban reach Moderate
Gender reach Moderate
Target income group Below Poverty Line
Occupation reach Business and entrepreneurship

Benefit analysis

Benefit type: Cash
Benefit frequency: One-time loan
Benefit practicality: High, if funds are used effectively for business
Financial meaningfulness: High, as loan amounts can significantly impact business growth
Long-term impact: Potentially positive, aiding in community upliftment and economic stability

Plain-language guidance

The Term Loan Scheme helps members of the Charmakar community in Maharashtra get loans to start or grow their businesses. Applicants must meet specific eligibility criteria and submit documents at the district office.

Who should apply: Individuals from the Charmakar community looking for financial support to start a business.
Who may struggle: First-time applicants or those unfamiliar with the loan application process.
Best application route: Apply directly at the District Office of the Leather Industries Development Corporation of Maharashtra.

This intelligence section is generated by an AI policy analyst combined with rule-based scoring. Scores and narrative are estimates derived from the publicly available scheme information shown on this page; actual experience may vary by state, district, and department. Always confirm details on the official portal before you apply.

Application Process

Offline

Step 1: The interested applicant should visit (during office hours) the District Office of the Leather Industries Development Corporation of Maharashtra (LIDCOM), and request the hard copy of the prescribed format of the application form from the concerned authority.
Step 2: In the application form, fill in all the mandatory fields, paste the passport-sized photograph (signed across, if required), and attach copies of all the mandatory documents (self-attest, if required).
Step 3: Submit the duly filled and signed application form along with the documents, within the prescribed period (if any), to the concerned authority.
Step 4: Request a receipt or acknowledgement from the concerned authority to whom the application has been submitted. Ensure that the receipt contains essential details such as the date and time of submission, and a unique identification number (if applicable).
NOTE: Ensure that the application is submitted within the prescribed period, if any.

Clarifications

Additional points from the scheme information published on myScheme (not legal advice).

What is the Term Loan Scheme?: The Term Loan Scheme provides financial assistance to economically disadvantaged members of the Charmakar Community for various business purposes.
Who is eligible to apply for the Term Loan Scheme?: Applicants must belong to the Charmakar Community, be aged 18-50, and meet specific income requirements.
What is the maximum loan amount provided under this scheme?: NSFDC provides loans ranging from ₹1,00,000 to ₹2,50,000 for various business schemes.
What is the interest rate on the term loan?: NSFDC charges 7% interest per annum, while the Corporation charges 4% on the term loan.
Are there different interest rates for loans above ₹5,00,000?: Yes, NSFDC charges an 8% interest rate for loans above ₹5,00,000, with a 4% rate from the Corporation.
How is the loan amount structured?: 75% of the project cost is covered by NSFDC, 20% by the Corporation as a seed loan, ₹10,000 as a subsidy, and 5% is the beneficiary's contribution.
Is there a subsidy component in this scheme?: Yes, a subsidy of ₹10,000 is included in the loan amount to support beneficiaries.
What are the repayment terms for the loan?: The loan installments are payable monthly, with a repayment period of up to 60 months.
What types of business activities are covered by this scheme?: The scheme covers various business purposes, including footwear and leather production, and also has specific provisions for vehicle loans.
Do applicants need to reside in Maharashtra?: Yes, applicants must be permanent residents of Maharashtra.

Official links

References

Guidelines: https://sjsa.maharashtra.gov.in/en/scheme-category/employment

Frequently asked questions

What is the purpose of Term Loan Scheme?: Term Loan Scheme is a government welfare initiative designed to support Individual, Individual through benefits related to Business & Entrepreneurship, financial assistance, subsidies, social welfare, healthcare, education, or livelihood support.
Who can apply for Term Loan Scheme?: Eligibility for Term Loan Scheme may depend on factors such as income category, age, gender, occupation, state of residence, social category, and government-defined beneficiary criteria.
What benefits are offered under Term Loan Scheme?: Benefits under Term Loan Scheme may include financial assistance, subsidies, scholarships, insurance support, healthcare benefits, pension support, training assistance, or welfare services depending on the scheme guidelines.
Which department manages Term Loan Scheme?: Term Loan Scheme is managed by Social Justice and Special Assistance Department and may be implemented through district offices, online portals, CSC centres, banks, or authorised government agencies.
Can users apply online for Term Loan Scheme?: Yes, eligible applicants may be able to apply online for Term Loan Scheme through official government portals, authorised service centres, or digital application systems depending on the implementation process.
Is Aadhaar mandatory for Term Loan Scheme?: Many government schemes may require Aadhaar verification, identity proof, or linked bank account details for beneficiary validation and direct benefit transfer processing.
Where can users apply for Term Loan Scheme?: Applications for Term Loan Scheme may be submitted through government departments, official scheme portals, CSC centres, district offices, welfare departments, or authorised service centres.
What documents may be required for Term Loan Scheme?: Applicants may need Aadhaar card, income certificate, residence proof, bank account details, caste certificate, photographs, educational records, or occupation-related documents depending on scheme eligibility requirements.
Is income certificate required for Term Loan Scheme?: Income certificate requirements may vary depending on beneficiary category, subsidy eligibility, and financial assistance criteria defined under Term Loan Scheme.
Is Term Loan Scheme available in all states?: No, Term Loan Scheme is primarily available for eligible residents of Maharashtra and may be implemented through state government departments and local administrative offices.
Can residents outside Maharashtra apply for Term Loan Scheme?: Eligibility for Term Loan Scheme is generally limited to residents of Maharashtra unless otherwise specified in the official scheme guidelines.
Can students apply for Term Loan Scheme?: Eligible students studying in recognised institutions may apply for Term Loan Scheme depending on educational qualification, category, income limit, and academic eligibility.
Is scholarship amount provided under Term Loan Scheme?: Term Loan Scheme may provide scholarship assistance, tuition support, educational reimbursement, or financial aid for eligible students.
Does Term Loan Scheme provide healthcare or insurance support?: Term Loan Scheme may provide healthcare assistance, insurance coverage, cashless treatment support, medical reimbursement, or hospital-related benefits depending on the scheme structure.
Can beneficiaries use Term Loan Scheme at government hospitals?: Eligible beneficiaries may be able to access services at empanelled hospitals, government healthcare facilities, or authorised healthcare providers depending on scheme participation rules.
Does Term Loan Scheme provide business loan or startup assistance?: Term Loan Scheme may support entrepreneurs, startups, self-employed individuals, MSMEs, or small businesses through financial assistance, subsidies, credit support, or training initiatives.
Is collateral required under Term Loan Scheme?: Collateral requirements may vary depending on the loan amount, implementing agency, financial institution, and government subsidy structure.
Can CSC centres help users apply for Term Loan Scheme?: Many government schemes may be accessible through nearby CSC centres, authorised digital service centres, or welfare facilitation offices.
How can users check the latest updates for Term Loan Scheme?: Users should verify official notifications, department announcements, application deadlines, and eligibility updates through authorised government portals or implementing agencies.
Can beneficiaries track application status for Term Loan Scheme?: Certain schemes may provide online application tracking, beneficiary verification systems, or status-check facilities through official portals.
Where can users get help for Term Loan Scheme in Maharashtra?: Users in Maharashtra may seek assistance through CSC centres, district welfare offices, government departments, agriculture offices, social welfare departments, or authorised facilitation centres.
Which nearby public services may help with Term Loan Scheme applications?: Depending on the scheme, users may require support from Aadhaar centres, CSC centres, banks, hospitals, post offices, or government welfare offices for document verification and application assistance.