Venture Capital Assistance Scheme

Venture Capital Assistance (VCA) Scheme is financial support in the form of an interest free loan provided by Small Farmer's Agri Business Consortium (SFAC) to qualifying projects to meet shortfall in the capital requirement for implementation of the project.

Benefits

• Scheme helps in assisting agripreneurs to make investments in setting up agribusiness projects through financial participation

• VCA Scheme Provides financial support for preparation of bankable Detailed Project Reports (DPRs) through Project Development Facility (PDF).

Eligibility Criteria

Following are eligibile for the Venture Capital Assistance scheme.

• Farmers

• Producer Groups

• Partnership/Proprietary Firms

• Self Help Groups

• Companies

• Agripreneurs

• units in agriexport zones

• Agriculture graduates Individually or in groups for setting up agribusiness projects.

Documents Required

• Promoter’s request letter addressed to the Managing Director SFAC, New Delhi on original letterhead of firm/company

• Sanction letter of Sanctioning authority addressed to recommending branch

• Bank’s approved Appraisal/Process note bearing signature of sanctioning authority with terms of sanction of term loan

• Up-to-date statement of account of Term loan and Cash Credit (if sanctioned)

• Equity Certificate: a)C.A. certificate in case of Partnership or Proprietorship firms. b)Form-2(PAS-3), FORM-5(SH-7) and other documents in lieu of FORM-23 filed with ROC for Company

• Farmer’s list/backward linkage duly supported by agreement

• Affidavit of promoters that they have not availed VCA in the past

• Unsecured loans raised by the promoters (If any). CA Certificate to be enclosed

• Copy of last Bank's inspection report

• Bank’s confirmation that they will not release primary & collateral security without SFAC consent

• Justification for margin on working capital taken in the project cost

Application Procedure

One can only apply online, offline application forms will not be accepted. Also, below are the checklist before applying for the scheme.

• Promoter’s request letter addressed to the Managing Director SFAC, New Delhi on original letterhead of firm/company

• Sanction letter of Sanctioning authority addressed to recommending branch

• Bank’s approved Appraisal/Process note bearing signature of sanctioning authority with terms of sanction of term loan

• Up-to-date statement of account of Term loan and Cash Credit (if sanctioned)

• Equity Certificate:

• Certificate in case of Partnership or Proprietorship firms.

• Form-2(PAS-3), FORM-5(SH-7) and other documents in lieu of FORM-23 filed with ROC

• Farmer’s list/backward linkage duly supported by agreement

• Affidavit of promoters that they have not availed VCA in the past

• Unsecured loans raised by the promoters (If any). CA Certificate to be enclosed

• Copy of last Bank's inspection report

• Bank’s confirmation that they will not release primary & collateral security without SFAC consent Justification for margin on working capital taken in the project cost