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Financial support for professional training

How to get financial support for work related to your professional training?

The National Handicapped Finance and Development Corporation (NHFDC) provides support for professionals wanting to start their own venture under its Young Disabled Professionals scheme.
        Indicative list of Trained Professionals who are eligible for this loan. Click here.
        Get the Application Form. Click here.

Eligibility Criteria

Financial assistance in this category is available to those who meet the following criteria:

  1. You must be a citizen of India.
    What is required as Proof of Citizenship? Click here.
  2. You must be between 18-35 years of age.
    What is required as Proof of Age? Click here.
  3. You must have more than 40% disability and a Disability Certificate.
    How do I get a Disability Certificate? Click here.
  4. You must have a professional degree from a recognized institute.

Financial Assistance for Young Disabled Professionals

This support is available to those who want to start their own venture in relation to their professional education and training.

Scheme

Description

Loan Amount

Financial Assistance for Young Disabled Professional Available for self-employment of professionally educated, unemployed disabled youth to utilise the experience gained through professional training and education.

Up to INR 25 lakhs

Loan Conditions

The assistance is made available on a cost sharing basis as follows:

Institutions Amount
NHFDC share Up to 85% of amount
State Channelizing Agency (SCA) share 5% of amount
Beneficiary share At least 10% of amount

For example: You require a total amount of INR 10,000 for your venture.

  • NHFDC will provide up to INR 8,500 as loan
  • SCA will provide INR 500 as loan
  • You must contribute at least INR 1,000

The loan is provided at the following interest rate:

Loan amount Annual Interest Rate
Below INR 50,000 5% p.a.
INR 50,000 – INR 5 lakhs 6% p.a.
Above INR 5 lakhs 8% p.a.

Note that:

  • The loan is to be fully repaid within 10 years.
  • A rebate of 0.5% interest is available to women availing of the loan.
  • The NHFDC could also consider providing a Working Capital Margin of up to 30% of the estimated costs of the project.

How to get Loan Assistance under the Young Disabled Professional scheme?

The NHFDC has been set up by the Government under the Ministry of Social Justice and Environment as a not-for-profit company. It functions through the following means:

  • State Channelizing Agencies (SCAs)
  • Punjab National Bank
  • Andhra Bank
  • IDBI Bank
  • Regional Rural Banks (RRB) in the public sector

Loans up to INR 5 lakhs are sanctioned by State Channelizing Agencies (SCAs).

Loans of more than INR 5 lakhs are sanctioned by the NHFDC itself.
        For details of SCAs Click here.
        For details of RRBs. Click here.

Application Forms can be submitted at either the State Channelizing Agencies or the NHFDC.

Relevant contact details for those responsible for these financial assistance schemes are:

In Delhi In Faridabad
Shri Bharat Kumar, Asst General Manager (Finance)
Corporate Office – NHFDC
Unit No. 11 & 12, Ground Floor,
DLF Prime Tower,
Okhla Phase – I, Near Deckhand Village
New Delhi – 110020
Ph: (011) 45803730
Shri D.R Sarin, Chairman Cum Managing Director
Registered Office – NHFDC
Red Cross Bhawan, Sector-12,
Faridabad – 121007
Haryana
Ph: (0129) 2287512 or 2287513 or 2226910
Telefax: (0129) 2222339 or 2284371
Email: nhfdc97@gmail.com

How to get the Loan Assistance

  • Step 1: Check eligibility for the scheme.
  • Step 2: Fill out the Application Form.
  • Step 3: Make sure that you have all the needed supporting documents.
  • Step 4: Check to see which Loan Disbursement Agency is conveniently located for you.
  • Step 5: Submit the package of all documents required.
  • Step 6: Make sure you collect the name and details of the concerned official for follow up.

 

 

Find all the relevant links:

Indicative list of Trained Professionals who are eligible for this loan. Click here.

Get the Application Form. Click here.

Check the supporting documents. Click here.

What is accepted as Proof of Citizenship. Click here.

What is accepted as valid Proof of Age. Click here.

How do I get Disability Certificate. Click here.

For Details of SCAs. Click here.

For Details of RRBs. Click here.