SBB480

Working Capital Term Loan (WCTL) for Contract Finance

Startups across India can access financial assistance through the Working Capital Term Loan (WCTL) for Contract Finance, aimed at providing gap funding to eligible contractor firms and companies. This initiative, managed by the Ministry of Development of North Eastern Region, supports the growth and sustainability of new businesses.

Central

States / UT: All India

Ministry / nodal: Ministry of Development of North Eastern Region

Scheme for: Startups

Scheme profile

DBT (direct benefit transfer): No

Target beneficiaries: Startups

Tags: startups

Details

Brief

NEDFi provides financial assistance in the form of gap funding to eligible contractor firms/companies for contract work execution. Working capital term loan assistance is given in the form of gap funding. Interest rate is fixed based on prime lending rate with plus or spread as per the credit worthiness of the borrower, risk perception, rating, and other relevant factors.

Eligibility

  • Eligible contractor firms and companies.

Benefits

  • - Financial assistance in the form of gap funding
  • Financial assistance in the form of gap funding

Eligibility

  • Eligible contractor firms and companies.

Application Process

Online / portal

Official application / information link: https://my.msme.gov.in/MyMsmeMob/MsmeScheme/Pages/7_1_10.html

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