Short Term Financial Assistance To Good Borrowers
State: Puducherry
Ministry: null
Department: Industries and Commerce Department, Puducherry
Category: Business & Entrepreneurship
Beneficiary Type: Business Entity

The scheme aims to meet short term financial requirements related to executing specific orders, seasonal fund increases, or firm export orders. Benefits include loans ranging from ₹5,00,000/- to ₹50,00,000/-, primarily targeting existing Medium Scale Industry and Small Scale Industry units.

Benefits:
- The minimum loan limit available is ₹5,00,000/-.
- The maximum loan limit available is ₹50,00,000/-.
- The intended use of the funds is to meet short term financial requirements. This includes meeting the requirements of executing specific orders, seasonal increase in fund requirements, and firm export orders.

##### ***Disbursement***
100% of the loan amount shall be released immediately after completion of documentation and fulfilling the other norms of the Corporation.
##### ***Conditions***

- _The loan repayment period for amounts up to ₹10,00,000/- is 12 months._
- _The loan repayment period for amounts above ₹10,00,000/- up to ₹25,00,000/- is 18 months._
- _The loan repayment period for amounts above ₹25,00,000/- up to ₹50,00,000/- is 24 months._
- _The applicant must offer collateral security for a value of 150% of the term loan._
- _If the applicant is a non-assisted unit, the quantum of loan will be decided based on the merits of the individual case and the security offered._

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Eligibility:
- Existing units of MSI and SSI classified as A and B Category.
- Existing Good Borrowers who have repaid 30% of the Principal amount. Units assisted by other financial institutions / Banks. Group concerns of the Clients of the Corporation, with an excellent track record of 4 years and operating on Profitable lines.

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Application Process:
[Online]
User Manual: https://pipdic.in/uploads/PIPDIC_docs/user_manual.pdf
How to Apply: https://pipdic.in/how_to_apply
Applicant Login: https://pipdic.in/customer_login
Application Link: https://pipdic.in/forms
Grievance Form: https://pipdic.in/grievance_form
Registration ProcessStep 1: Registration and Profile CreationVisit the PIPDIC website. Click "Login". Click the “New customer” link under the “Login” menu, enter a username, email-id, password, and captcha, and then click the "Register" button.
Step 2: Email Verification and LoginUse the registered email-id to log in. An OTP is sent to the registered email address.
The applicant is then required to enter the OTP and click "Login" to access to the customer dashboard.
Step 3: Profile UpdateUpon successful login, the customer needs to update their profile by accessing the "Edit Profile" option (top right corner of the dashboard).
The applicant must provide all required details. Click "Submit".
Application Process (Loan Application)Step 1: Accessing the Loan Application FormTo initiate the loan application process, the applicant must navigate from the customer dashboard by clicking on the "Applications" tab.
Step 2: Reviewing Checklist and Accepting TermsA pop-up window displaying a checklist of General Terms and Conditions, interest rate structure, investigation fees, and collateral security norms will appear for review.
Carefully read this checklist, confirm that all necessary documents have been gathered as requested, and click the “I Agree” button to proceed to the application form.
Step 3: Filling the Loan Application FormFill the multi-step application form, providing appropriate details in all mandatory fields across the required steps.
Step 4: Declaration and SubmissionThe applicant must carefully read and agree to the comprehensive declaration provided within the application form (covering confirmation of true information, absence of unauthorized borrowing arrangements, and consent to verification) before finally ticking the "I agree to terms" checkbox and clicking the final "Submit" button for the main application form.
Step 5: Promoter Bio-Data and Document UploadThe system will redirect the applicant to enter the Biodata of the Promoter, Partner, or Director, which is typically a multi-step process. The necessary KYC and supporting documents must be uploaded by clicking the "Choose File" button next to each field.
Step 6: Application Fees PaymentOnce the entire application and bio-data submission is complete, pay the applicable application fee.
If selecting online payment, the system automatically redirects the applicant to the payment summary page, where they verify their details and make the payment.
Step 7: Receiving and Saving Payment ReceiptUpon successful payment, the user is redirected back to PIPDIC website, where a receipt for the application fee paid is generated.
The applicant can print this receipt or save it to their computer as a PDF for future reference.
Application Status Tracking and SupportThe customer can monitor the status of their submitted application (which will initially show a status like 'UNDER REVIEW') by clicking the "View My application" link on the dashboard and selecting the relevant loan application in the drop-down menu.
Application FeesFor loans up to ₹25,00,000/-, the application fee is ₹100/-.
For loans above ₹25,00,000/-, the application fee is ₹200/-.
Grievance Redressal / Help & SupportThe applicant can contact the Managing Director, Pondicherry Industrial Promotion Development and Investment Corporation Limited at No.60, Romain Rolland Street, Puducherry 605001.
The office phone number is 0413-2334361.
The email address for contact is info@pipdic.com.
The General Manager (Administration) can be contacted via mobile at 9894653835.

Documents Required:
Documents Submitted At The Time Of Filing Loan ApplicationCopy Of Acknowledgement Of Micro, Small, And Medium Enterprise Registration Certificate Obtained From Industries Department.
Copy Of Partnership Deed And Acknowledgement Of Registrar Of Firms (In The Case Of Partnership Concern).
Copies Of Pan Card, Voter's Identity, Ration Card, Aadhaar Card, And Bank Pass Book (For All Promoters).
Bio-Data Of All The Promoters (Duly Filled In All Respect As Per The Format Enclosed).
Balance Sheet And Profit And Loss Account For Last 3 Years And Bankers Details (For Interested Concerns Or Existing Units).
Consent Letter To Offer Collateral Security To The Extent Required By Pondicherry Industrial Promotion Development And Investment Corporation Limited.
Detailed Project Report On The Project (Required For Loan Amounts Above ₹25,00,000/-).
Details Required In The Application At Page Numbers 12, 13, 14, And 15 (To Be Furnished Compulsorily To Prepare The Appraisal Report).
Track Record, Name And Address Of Concerns, And Type Of Consultancy Service Rendered By The Consultant (If Any) (Required For Loan Amounts Above ₹25,00,000/- Or Group Concerns).
Details Of Effluent And Arrangement Proposed For Treatment And Disposal Of Effluent (If Any During Process) (Required For Loan Amounts Above ₹25,00,000/-).
Documents Submitted Either During Processing Time Or After Sanction Of Loan (For Collateral Security)Original Title Deed.
Antecedent Title Deeds.
Encumbrance Certificate For 30 Years.
Valuation Certificate (Obtained From Approved Panel Valuer Of Pondicherry Industrial Promotion Development And Investment Corporation Limited).
Field Measurement Book Copy (FMB Copy).
Patta Copy.
Legal Opinion Report For Collateral Security Property.