VENTURE CAPITAL FOR AGRIBUSINESS DEVELOPMENT ( X1TH PLAN )
HIGLIGHTS
- Venture Capital : To promote investments in agri-business projects with the participation of nationalized banks, SBI and subsidiaries/IDBI.
- Venture capital for agri-projects upto 10% of the total project cost, or 26% of the Total project equity or Rs.75 lakhs whichever is lower.
Provided that for projects located in North-Eastern and Hilly States (Uttrakhand, Himichal Pradesh, J & K), the quantum of Venture Capital will be the lowest of the following:
- 25% of the total project cost assessed by the bank
- 40% of the project equity
- Rs. 75.00 Lakhs whichever is lower
- In special cases, higher venture capital can be considered by SFAC to deserving projects on merit and to projects that are located in remove and backward notified districts, North-Eastern and Hilly States and in projects recommended by State agencies subject to maximum of Rs. 3 crores.
- Project Development Facility (PDF) : To provide financial assistance to farmers, Producer Groups, agripreneurs, Units in Agri-Export Zones, Organizations and Agriculture graduates for the preparation of bankable Detailed Project Reports (DPR).
- Eligible Criteria for Funding
- Project should be in agriculture or allied sector basically perishables namely norticulture, floriculture, medicinal and aromatic plants, minor forest produce, apiculture, and fisheries. However, poultry and dairy projects will not be covered under the scheme.
- Project should provide assured market to farmers/ producer groups.
- Project should encourage farmers to diversify into high value crops, to increase farms incomes.
- Project should be accepted by banks (mentioned above) for grant of term loan.
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