The Self Employment Scheme – Goa is a flagship loan initiative launched by the Goa State Scheduled Tribes Finance and Development Corporation Limited under the Department of Tribal Welfare, Government of Goa. This scheme is designed to empower individuals and groups from the Scheduled Tribes community by providing financial assistance for undertaking approved self-employment activities. The program supports both individual entrepreneurs and collective entities such as associations, societies, partnerships, Self-help Groups (SHGs), or companies formed exclusively by Scheduled Tribes members.
Benefits
- Robust Financial Support:
- Individuals: Up to ₹10,00,000 in loans for self-employment ventures.
- Collective Entities: Up to ₹15,00,000 in financial assistance for associations, societies, partnerships, SHGs, or companies exclusively formed by Scheduled Tribes members.
- Insurance Coverage: Mandatory insurance protects both the beneficiary and their business, ensuring that any claim from natural calamities is adjusted against the loan outstanding.
- Empowerment and Self-Reliance: This scheme is geared towards promoting self-employment among Scheduled Tribes, ultimately boosting local economies and reducing dependency on external support.
Eligibility
- Applicant Type: The scheme is open to individuals as well as associations, societies, partnerships, SHGs, and companies.
- Community: The applicant must belong to a Scheduled Tribes (ST) community.
- Income Criterion: The family income of the applicant should not exceed ₹1,00,000 per annum.
- Age Limit: The applicant should not be more than 55 years old.
- Purpose: Financial support is strictly provided for undertaking approved self-employment activities.
- Guarantors: Applicants must provide two guarantors/sureties with sound financial standing; at least one guarantor must be a government servant.
- Flexibility: The Board of Directors may relax the eligibility criteria in deserving cases.
Application Process
Offline Process
- Visit the Office:
- The interested applicant should visit the Department of Tribal Welfare, Govt. of Goa at Shram Shakti Bhavan, 5th Floor, Patto, Panaji – Goa, 403 001.
- Obtain Application Form:
- Either take a print of the proforma or request a hard copy of the application form from the concerned authority.
- Complete the Form:
- Fill in all mandatory fields, affix a passport-sized photograph (signed across, if required), and attach self-attested copies of all required documents.
- Submit the Application:
- Submit the duly filled and signed application form along with the required documents to the designated authority.
- Receipt:
- Request a receipt or acknowledgment from the office, ensuring it includes the date, time, and a unique identification number if applicable.
Documents Required
Documents vary based on the purpose of the loan. Some common document requirements include:
For Agricultural Sector Loan
- ST Certificate (Self-attested)
- Two Passport Size Photographs
- Annual Family Income Certificate (below ₹1,00,000, issued by the competent authority)
- Copy of Ration Card (self-attested)
- Age Proof
- Aadhaar Card (self-attested)
- Self-Declaration Affidavit in prescribed format
- Title Document (e.g., Sale Deed, Sanad Agreement, Lease Deed, I & XIV Form)
- Projected Viability Report (business/cultivation proposal)
- Cost Estimates: For development and cultivation
- Salary Certificate/Latest Payment Slip of the Surety
- Affidavit of Surety (on ₹50 stamp paper, duly notarized, with 1 photo and ID proof)
- Bank Mandate Form of the supplier/dealer
For Allied Agriculture Activities
- Similar documents as above, along with:
- Proof of Land Availability
- NOC from Panchayat/Municipality
- Detailed Cost Projections for infrastructure, machinery, and raw materials
For Processing and Manufacturing Units, Sales, and Service
- Requirements are similar to the agricultural sector but focus on:
- Viability Report for Manufacturing/Processing
- Infrastructure Availability
- Cost Invoices/Quotations for Machinery/Stock
For the Purchase of a Vehicle
- Project Report on the viability and beneficiary involvement
- Quotation
- Driving License
- Letter from Company (if applicable)
- Similar financial and surety documents as listed for agricultural and manufacturing purposes
Frequently Asked Questions
Q1: What is the definition of “Self Employment” under this scheme?
A1: Self Employment here refers to undertaking approved entrepreneurial activities aimed at generating income independently, as outlined in the project proposals.
Q2: How is insurance integrated into this scheme?
A2: The beneficiary and their business are required to be insured against risks such as fire, theft, cyclones, and other natural calamities. The policy is endorsed in the name of the Corporation, and any compensation received is adjusted against the loan.
Q3: What is the significance of the 10% margin money requirement?
A3: Beneficiaries must contribute 10% of the project cost as margin money, which ensures their commitment to the project. This requirement may be relaxed in individual cases, but not for group applications.
Q4: What are the eligibility criteria for this scheme?
A4: Applicants must belong to the Scheduled Tribes community, have an annual family income of less than ₹1,00,000, be no older than 55 years, and provide two guarantors (with at least one being a government servant). The funds must be used for self-employment activities.
Q5: Can you explain the mortgage requirement for this scheme?
A5: There is no specific mortgage requirement stated, but applicants must provide adequate security through guarantors/sureties as per the guidelines.
Q6: How long is the repayment period for the loan?
A6: The repayment period and terms will be decided by the Corporation on a case-by-case basis, following the approval of the project proposal.
Q7: What happens if a borrower defaults on their loan installments?
A7: In case of default, the terms of the loan contract will apply, which may include penalties or legal action as per the Corporation’s policies.
Q8: Is the interest rate fixed, and how is it calculated?
A8: The interest rate is predetermined by the Corporation’s guidelines and is applied uniformly as per the loan contract.
Q9: How much financial assistance can an individual expect under this scheme?
A9: An individual from the Scheduled Tribes community may receive up to ₹10,00,000 for self-employment activities.
Q10: What is the maximum loan amount available for associations or group entities?
A10: Associations, societies, partnerships, SHGs, or companies can receive financial assistance up to ₹15,00,000.
Q11: Can an applicant with a family income slightly above ₹1,00,000 per annum apply?
A11: The standard eligibility requires an income of ₹1,00,000 or below; however, the Board of Directors may relax this criterion in deserving cases.
Q12: Can the loan be used for purposes other than self-employment activities?
A12: No, the financial support is strictly for undertaking self-employment activities approved by the Corporation.
Q13: How does the Corporation decide on the repayment period for loans?
A13: Repayment terms are determined based on the viability and nature of the proposed project, as per the Corporation’s guidelines.
Q14: Is there flexibility in eligibility criteria?
A14: Yes, the Board of Directors may relax certain eligibility criteria in deserving cases, subject to review.
Q15: What happens if a beneficiary fails to repay the loan on time?
A15: The loan agreement will specify penalties, and the Corporation may take steps to recover the outstanding amount as per their policies.
Q16: How does the scheme address the need for guarantors or sureties?
A16: Applicants must provide two guarantors with a strong financial background, with at least one guarantor being a government servant, to ensure loan security.