The Long Term-Loan Scheme for Scheduled Caste Cooperative Spinning Mills under the Special Component Plan is an initiative by the Department of Social Justice & Special Assistance, Government of Maharashtra. This scheme offers long-term financial assistance to promote spinning mills owned and operated by members of the Scheduled Caste (SC) community. The goal is to empower SC entrepreneurs through cooperative industrial development in the textile sector.
Key Highlights of Maharashtra SC Loan Scheme
-
Name of Scheme: Long Term-Loan to SC Co-op Spinning Mills under Special Component Plan
-
Implementing Department: Social Justice & Special Assistance Department, Government of Maharashtra
-
Purpose: To support SC-run cooperative spinning mills by covering 50% of the project cost through long-term loans
-
Mode of Application: Offline only
Benefits of Term Loan
-
Loan Coverage: Financial assistance covering 50% of the total project cost
-
Support for Infrastructure & Machinery: Enables mills to invest in spinning machinery, setup, and modernization
-
Encourages SC Entrepreneurship: Focused on Scheduled Caste cooperative members to boost employment and self-reliance
Eligibility Criteria
-
The applicant must be a Cooperative Spinning Mill formed and managed by Scheduled Caste members.
-
The spinning mill must raise at least ₹80,00,000/- or 5% of the project cost through member shares.
-
The project proposal must be enumerated and verified by any of the recognized financial institutions listed below.
Recognized Enumeration Institutions
-
MITCON (Maharashtra Industrial & Technical Consultancy Organization Ltd.), Pune
-
Agriculture Financial Corporation, Mumbai
-
Dattajirao Technical Institute, Ichalkaranji
Note: Enumeration involves verifying the feasibility and accuracy of the proposed project cost and technical details by a professional institution.
How to Apply – Offline Application Steps
Step 1: Visit the Textile Department, Government of Maharashtra, during office hours and collect the prescribed application form.
Step 2: Fill out all mandatory fields in the form, affix a passport-sized photo (signed across), and attach self-attested copies of the required documents.
Step 3: Submit the completed application form with all documents to the Textile Department, within the prescribed period (if applicable).
Step 4: Collect a receipt/acknowledgment slip from the submitting officer. It should include the date, time, and reference number for tracking.
Step 5: Once the share capital is approved, forward the application to the Assistant Commissioner, District Social Welfare Office, where the Social Welfare Department will sanction the loan.
Necessary Documents for Application
-
Passport-size photograph (signed across)
-
Project report duly enumerated by a recognized institution
-
Latest financial statements of the spinning mill
-
Identity proof and address proof of authorized members
-
Textile Department approvals (if any)
-
Any other documents as specified by the Textile Department or the District Social Welfare Office
Commonly Asked Questions
Q: What is the main objective of this scheme?
To financially support SC cooperative spinning mills by providing long-term loans covering up to 50% of the project cost.
Q: Who is eligible for this scheme?
SC community-based cooperative spinning mills that have raised member contributions and submitted an enumerated project report.
Q: How much should the mill contribute from member shares?
A minimum of ₹80,00,000 or 5% of the total project cost.
Q: What is the enumeration process?
It’s the verification of the project cost and plan by a recognized technical/financial institution.
Q: Where can I get the application form?
From the Textile Department, Government of Maharashtra.
Q: Where should the application be submitted?
First to the Textile Department, then to the Assistant Commissioner of the District Social Welfare Office after capital approval.
Q: What happens after approval?
The loan is sanctioned by the Social Welfare Department under the terms of the Special Component Plan.
