• Small Farmers’ Agri-Business Consortium


    "Society promoted by Department of Agriculture, Cooperation and Farmers Welfare, Ministry of
    Agriculture and Farmers Welfare, Govt. of India"

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Home   Application Procedure for Venture Capital Scheme

Application Procedure for Venture Capital Scheme

How to apply for VCA

Applying VCA from SFAC is very simple. The promoters directly or with the support of any SFAC’s empanelled consultant may submit VCA application form through the as given below Eligible lending institution to SFAC along with the documents as per checklist immediately after the bank/Financial institution has sanctioned the Term Loan. SFAC, after receipt of the application followed by preliminary scrutiny of documents will send acknowledgement letter with proposal registration number to the bank, promoter and the consultant (if any) and will simultaneously ask for any other document /information/clarification required to further process the proposal.

“However applicants are advised to thoroughly read the Scheme guidelines before applying “

List of banks with whom MOU has been signed by SFAC
S.No. Bank Date
1 Allahabad Bank 09.05.2005
2 UCO Bank 09.05.2005
3 Bank of Baroda 13.05.2005
4 OBC 18.07.2005
5 Punjab National Bank 20.07.2005
6 Central Bank of India 26.05.2005
7 Canara Bank 23.09.2005
8 Vijaya Bank 26.09.2005
9 The Jammu & Kashmir Bank Ltd 05.10.2005
10 Syndicate Bank 10.10.2005
11 Bank of Maharashtra 19.10.2005
12 United Bank of India 24.11.2005
13 State Bank of Bikaner & Jaipur 14.12.2005
14 State Bank of India 19.12.2005
15 State Bank of Saurashtra 14.03.2006
16 Indian Bank 07.02.2006
17 Bank of India 09.06.2006
18 Dena Bank 09.10.2006
19 Union Bank of India 09.10.2006
20 State Bank of Patiala 26.09.2006
21 Indian Overseas Bank 15.04.2008
22 Punjab & Sind Bank 19.03.2013
23 Corporation Bank 09.04.2014
24 Agri Business Finance (AP) Ltd 17.04.2014
25 Kerala Financial Corporation 17.04.2014
26 Vananchal Gramin Bank 02.05.2014
27 Baroda Gujarat Gramin Bank 02.05.2014
28 Kerala Gramin Bank 13.05.2014
29 North Eastern Development Finance Corporation Ltd., (NEDFi) 05.06.2014
30 Kaveri Grameena Bank, Mysore 11.06.2014
31 Pragathi Krishna Gramin Bank, Bellary 11.06.2014
32 National Cooperative Development Corporation (NCDC) 25.06.2014
33 Baroda Uttar Pradesh Gramin Bank 23.07.2014
34 Dena Gujarat Gramin Bank, Gandhinagar 23.07.2014
35 Assam Gramin Vikash Bank, Guwahati 26.07.2014
36 Central Madhya Pradesh Gramin Bank, M.P. 05.08.2014
37 Assam Financial Corporation, Assam 08.08.2014
38 Odisha State Financial Corporation 05.09.2014
39 Bihar Gramin Bank 05.11.2014
40 Gramin Bank of Aryavart, UP 07.11.2014
41 Madhyanchal Gramin Bank, Madhya Pradesh 10.12.2014

Checklist
S.No Checklist
1 Promoter’s request letter addressed to the Managing Director SFAC, New Delhi on original letterhead of firm/company
2 Sanction letter of Sanctioning authority addressed to recommending branch
3 Bank’s approved Appraisal/Process note bearing signature of sanctioning authority with terms of sanction of term loan
4 Up-to-date statement of account of Term loan and Cash Credit (if sanctioned)
5 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
6 Farmer’s list/backward linkage duly supported by agreement
7 Affidavit of promoters that they have not availed VCA in the past
8 Unsecured loans raised by the promoters (If any). CA Certificate to be enclosed
9 Copy of last Bank's inspection report
10 Bank’s confirmation that they will not release primary & collateral security without SFAC consent
11 Justification for margin on working capital taken in the project cost
Online Submission of Venture Capital Assistance Scheme Form