Women Enterprise Development (WED)
In the NEDFL scheme, Women enterprise development (WED) by the ministry of development of the northeastern region. The scheme helps in motivating women entrepreneurs and provides financial assistance to women entrepreneurs for taking up business ventures.
Existing businesses are to be also eligible for expansion, modernization, and diversification. It encourages women to upgrade their status by participating in the business and development of micro-enterprises.
Features of the Scheme
• Women enterprise development scheme provides loans to businesswomen of all sections in the form of financial aid.
• The applicant can receive a term loan and a working capital loan starts from 8% of the interest rate on the loan amount.
• The loans will be sanctioned to women who are engaged in an executable business.
• The processing Fee is 1% + GST
• The maximum amount of loan is Rs.15 lakh, and 75% of assistance for a project will be offered as a loan
• The promoter’s contribution would be a minimum of 25% of the Project Cost.
• The repayment tenure ranges between 3 years to 7 years for the loan.
• The women entrepreneurs should be aged between 18 years to 50 years.
• Must be located in the 8 states of the northeastern region.
• Sole proprietors, Partnership firms, LLPs (Limited Liability Partnerships), Private Ltd.
• Manufacturing & Services
• New & Existing MSME
How to apply?
• A detailed Project Report (DPR) should be prepared
• Project Proposal should be prepared
• Get ready with the documents required by NEDFi
• DPR and Project Proposal should be sent to the committee or the board of directors for project approval.
• After approval of the project, you can pay the application fee.