The Share Capital to Local Entrepreneurs and Self Employed Scheme was a pioneering initiative by the Directorate of Industries, Trade and Commerce, Government of Goa, designed to empower Goan youth by providing interest-free capital contribution for setting up industrial units and self-employment ventures. Launched in 2008 and effective until March 31, 2011, the scheme supported individuals and groups, especially from marginalized sections, with financial assistance covering up to 50% of the project cost.
Key Highlights of Share Capital Loan Scheme
• Scheme Name: Share Capital to Local Entrepreneurs and Self-Employed Scheme
• Launched By: Directorate of Industries, Trade and Commerce, Goa
• Financial Support: ₹2,00,000 to ₹3,00,000 per individual; up to ₹10,00,000 for groups
• Loan Type: Interest-free capital contribution
• Repayment Period: 10 years (with up to 1-year moratorium)
• Special Insurance Cover: Premium ₹200 per ₹1,00,000 to waive dues on death/disability
• Application Mode: Offline (Form cost ₹25; Processing fee ₹200)
Benefits of the Goa Self-Employed Loan
• Capital Contribution:
– ₹2,00,000 per individual (covering 50% of project cost)
– ₹3,00,000 for individuals with professional qualifications, if the business aligns with their expertise
– Up to ₹10,00,000 for groups (no restriction on group size)
• Interest-Free Loan: The Entire capital contribution was interest-free
• Repayment Terms:
– Repayable in equal monthly installments within 10 years
– Moratorium period of up to 1 year
• Insurance Cover:
– Special insurance to absolve dues in case of death or permanent disability
– One-time premium of ₹200 per ₹1,00,000 payable before disbursal
• Priority Reservations:
– 30% budget outlay reserved for women entrepreneurs
– Preference for women, disabled persons, SC/ST/OBC candidates
Eligibility Criteria
• Residency: Must be a resident of Goa for at least 15 years
• Age Limit:
– General applicants: Below 40 years
– Women/SC/ST/OBC/Disabled: Up to 45 years
• Education:
– Minimum: 8th standard pass
– May be relaxed in deserving cases by the Director
• Income Limit: Combined income (with spouse) should not exceed ₹80,000 per annum
• Ineligibility:
– Applicants who availed more than 15% subsidy under other schemes
– Beneficiaries under Kamdhenu Scheme (except dairy/dhilling units)
• Guarantor Requirement:
– Self-guarantee + one guarantor owning property in Goa
– For amounts below ₹50,000: Applicant + parent/spouse guarantee acceptable
How to Apply – Offline Process
-
Buy the Application Form
– Available at the Directorate of Industries, Trade and Commerce, Udyog Bhavan, Panaji
– Cost: ₹25/- -
Fill the Form
– Complete all mandatory fields
– Attach self-attested copies of required documents -
Pay Processing Fee
– ₹200/- (non-refundable)
– Attach the receipt with the application -
Submit the Form
– Submit to the Directorate office at Udyog Bhavan, Panaji, Goa
Post-Application Procedure
• Task Force Committee (TFC) evaluates and recommends applications for disbursement
• Approved contributions disbursed via Directorate or Economic Development Corporation
• Insurance premium must be paid before disbursal
• Repayment in monthly installments over 10 years
Appeal Process
• For claims filed January–June: Last date to appeal – 20th February
• For claims filed July–December: Last date to appeal – 20th August
Necessary Documents
• Proof of Residence (15-year Goa residency)
• Educational Certificates
• Income Certificate (with spouse’s income details)
• Proof of Age
• Caste Certificate (for SC/ST/OBC applicants)
• Disability Certificate (if applicable)
• Training Certificates (for professionally qualified applicants)
• House Tax Receipt/Form I/XIV (property proof of guarantor)
• Passport-size Photograph
• Guarantor Declaration
Frequently Asked Questions (FAQs)
Q: What was the maximum support for individuals under this scheme?
A: ₹2,00,000 per person, or ₹3,00,000 for professionally qualified individuals with related ventures.
Q: Could groups apply under this scheme?
A: Yes, groups could receive up to ₹10,00,000, with no restriction on member count.
Q: What was the loan repayment duration?
A: 10 years, with a moratorium of up to 1 year.
Q: Was there insurance coverage?
A: Yes, covering dues in case of death/permanent disability. Premium: ₹200 per ₹1,00,000.
Q: When were disbursements made?
A:
– Claims Jan–June: By 31st January
– Claims July–Dec: By 31st July
Q: Was preference given to Goan-origin applicants?
A: Yes, especially those born and residing in Goa for 15 years.
Q: What was the age limit for applicants?
A: General: Below 40 years. SC/ST/OBC/Women/Disabled: Up to 45 years.
Q: What educational qualification was required?
A: Minimum 8th pass. Relaxable by the Director in special cases.
Q: What was the income cap to be eligible?
A: ₹80,000 combined annual income (applicant and spouse).
Q: Were previous subsidy beneficiaries eligible?
A: No, if they have availed more than 15% subsidy under other schemes.
Q: Was there any reservation in the budget for women?
A: Yes, 30% of the outlay was reserved for women entrepreneurs.
References & Important Links
• Official Guidelines (Page No. 16)
• Directorate of Industries, Trade and Commerce, Government of Goa
• Archived Notifications and Application Forms (Available at Udyog Bhavan, Panaji)
