Sarkari Yojana
Equipment Refinance Scheme
About Equipment Refinance Scheme
The Pondicherry Industrial Promotion Development and Investment Corporation Limited (PIPDIC), functioning under the Department of Industries & Commerce, Puducherry, introduced the “Equipment Refinance Scheme”. It offers financial help to SSI units with a good performance record so they can buy identifiable items of equipment / machinery for diversification / modernization / expansion / replacement, as well as balancing equipment. Applications are received online via the PIPDIC portal.
Scheme Overview
State Government
Business Entity
Scheme Details
Eligibility Requirements
To qualify for Equipment Refinance Scheme, applicants must satisfy the following conditions:
The applicant should be the owner of a…
The applicant should be the owner of a Small Scale Industrial unit with a sound performance record.
The unit should have been functioning continuously for…
The unit should have been functioning continuously for the last four years.
The unit should have made a profit in…
The unit should have made a profit in each of the preceding two financial years.
The unit should have declared a dividend in…
The unit should have declared a dividend in each of the preceding two financial years.
The applicant should have no record of default…
The applicant should have no record of default with any Institution or bank.
The loan must be sought for buying identifiable…
The loan must be sought for buying identifiable items of equipment or machinery for diversification/modernization/expansion/replacement, or for balancing equipment.
Benefits Provided
Equipment Refinance Scheme provides the following benefits to eligible applicants:
Loans are sanctioned on a need basis, with…
Loans are sanctioned on a need basis, with a ceiling of ₹90,00,000/-.
Interest Rates
Interest Rates: ◦ Loans of up to ₹25,00,000/- carry interest at 10% per annum. ◦ Loans exceeding ₹25,00,000/- but not more than ₹50,00,000/- carry interest at 11% per annum. ◦ Loans exceeding ₹50,00,000/- carry interest at 12% per annum.
Units promoted by Women, Scheduled Caste, Scheduled Tribe,…
Units promoted by Women, Scheduled Caste, Scheduled Tribe, or Differently abled persons enjoy a concessional interest rate that is 0.5% lower than the normal rate.
Documents Required
Applicants should keep the following documents ready before starting the application:
Checklist for Loan Application: PIPDIC loan application checklist (PDF) PIPDIC Entrepreneural Guidance: Guidance page for entrepreneurs Particulars to be Submitted after getting Sanction of Loan: Post-sanction particulars Checklist for Documentation: Documentation checklist Because loans can go up to ₹90,00,000/-, the document list meant for "Loans Above ₹25,00,000/-" applies. Particulars to be Submitted at the Time of Filing Loan Application
A copy of the acknowledgement of the Micro,…
A copy of the acknowledgement of the Micro, Small and Medium Enterprise Registration Certificate issued by the Industries Department.
A copy of a registered lease deed for…
A copy of a registered lease deed for the work premises covering at least eight years, or a consent letter undertaking to produce such a registered lease deed.
A copy of the sale deed for the…
A copy of the sale deed for the work premises (where the applicant owns the premises).
Two copies of the site and factory building…
Two copies of the site and factory building plan showing the machinery layout, along with the civil estimate.
The chosen supplier's quotation for every proposed machine…
The chosen supplier's quotation for every proposed machine and item of equipment, with detailed specifications and catalogue (original to be shown).
Two competing quotations from standard suppliers for all…
Two competing quotations from standard suppliers for all proposed machinery and equipment (originals to be shown).
A comparative statement of machinery explaining why the…
A comparative statement of machinery explaining why the supplier was chosen.
The chosen machinery supplier's client list with full…
The chosen machinery supplier's client list with full postal addresses, plus proof of its registration as an approved supplier with other financial institutions or banks.
Evidence of the end product's selling price obtained…
Evidence of the end product's selling price obtained from an existing manufacturer or dealer.
Quotations or bill copies for every raw material…
Quotations or bill copies for every raw material to be used, along with arrangements for steady supply.
Details of the manufacturing process with a flow…
Details of the manufacturing process with a flow chart.
Demand and supply statistics for the product with…
Demand and supply statistics for the product with supporting proof, existing competition, details of major consumers, and tie-up letters for marketing.
For a partnership firm, a copy of the…
For a partnership firm, a copy of the partnership deed and the Registrar of Firms acknowledgement.
For a private limited company, the Memorandum and…
For a private limited company, the Memorandum and Articles of Association.
Bio-data of every promoter, completed fully in the…
Bio-data of every promoter, completed fully in the enclosed format.
Copies of the PAN card, Voter identity card,…
Copies of the PAN card, Voter identity card, Ration Card, Aadhaar Card and bank pass book.
A detailed project report on the proposed project
A detailed project report on the proposed project.
The information requested on page numbers 12, 13,…
The information requested on page numbers 12, 13, 14 and 15 of the application (compulsory, as it is needed to prepare the appraisal report).
A consent letter from the bank for sanctioning…
A consent letter from the bank for sanctioning the working capital loan.
A consent letter agreeing to offer collateral security…
A consent letter agreeing to offer collateral security to the extent required by Pondicherry Industrial Promotion Development and Investment Corporation.
Balance sheets and profit and loss accounts for…
Balance sheets and profit and loss accounts for the last three years, with banker details, for associated concerns or the existing unit.
The consultant's track record, names and addresses of…
The consultant's track record, names and addresses of concerns served, and type of consultancy service provided (if a consultant is engaged).
Details of effluents and the proposed arrangements for…
Details of effluents and the proposed arrangements for treating and disposing of them (if any arise during the process).
The investigation fee (0.75% of the loan amount…
The investigation fee (0.75% of the loan amount applied for plus applicable service tax, with a 50% concession for Scheduled Caste/Scheduled Tribe/Women/Differently Abled entrepreneurs). Particulars to be Submitted Either During Processing Time or After Sanction of Loan
Copies of applicable licences, including Puducherry Planning Authority…
Copies of applicable licences, including Puducherry Planning Authority approval, Inspector of Factories approval, Municipal or Panchayat permission, pollution clearance, etc.
For the factory site and the collateral security…
For the factory site and the collateral security property: the original title deed, antecedent title deeds, a 30-year encumbrance certificate, a valuation certificate from a PIPDIC-approved panel valuer (Pondicherry Industrial Promotion Development and Investment Corporation), the field measurement book copy, the patta copy, and a legal opinion report.
How to Apply
Online Application
Applicants can apply for Equipment Refinance Scheme through the online application process outlined below.
User Manual: Portal user manual (PDF) How to Apply: Application guidance Applicant Login: Customer login page Application Link: Online forms Grievance Form: Lodge a grievance Registration Process
Registration and Profile Creation Open the PIPDIC portal
Registration and Profile Creation Open the PIPDIC portal. Select "Login", then choose the “New customer” link beneath the “Login” menu. Provide a username, email-id, password and the captcha, and press the "Register" button.
Email Verification and Login - Sign in using…
Email Verification and Login
Sign in using the email-id you registered; an OTP will be mailed to that address.
Key in the OTP and press "Login" to reach the customer dashboard.
Profile Update - After logging in, open the…
Profile Update
After logging in, open the "Edit Profile" option at the top right corner of the dashboard to update your profile.
Complete every required detail and press "Submit".
Application Process (Loan Application)
Accessing the Loan Application Form - Begin the…
Accessing the Loan Application Form
Begin the loan application by selecting the "Applications" tab on the customer dashboard.
Reviewing Checklist and Accepting Terms - A pop-up…
Reviewing Checklist and Accepting Terms
A pop-up will show a checklist covering the General Terms and Conditions, the interest rate structure, investigation fees and collateral security norms.
Go through it carefully, make sure you have collected all the documents listed, and press “I Agree” to move on to the application form.
Filling the Loan Application Form Work through each…
Filling the Loan Application Form Work through each stage of the multi-step form, entering correct information in every mandatory field.
Declaration and Submission Read the detailed declaration inside…
Declaration and Submission Read the detailed declaration inside the form (which confirms the information is true, that there are no unauthorized borrowing arrangements, and that you consent to verification), agree to it, tick the "I agree to terms" checkbox and press the final "Submit" button for the main form.
Promoter Bio-Data and Document Upload You will then…
Promoter Bio-Data and Document Upload You will then be taken to a usually multi-step page for entering the Biodata of the Promoter, Partner, or Director. Upload the required KYC and supporting documents using the "Choose File" button beside each field.
Application Fees Payment - After the full application…
Application Fees Payment
After the full application and bio-data have been submitted, pay the relevant application fee.
Choosing online payment takes you automatically to a payment summary page, where you check your details and complete the payment.
Receiving and Saving Payment Receipt - When payment…
Receiving and Saving Payment Receipt
When payment succeeds, you are returned to the PIPDIC website and a receipt for the application fee is generated.
Print the receipt or store it as a PDF on your computer for later reference.
Application Status Tracking and Support
To follow the progress of a submitted application (which first appears with a status such as 'UNDER REVIEW'), click the "View My application" link on the dashboard and pick the relevant loan application from the drop-down menu.
Application Fees
An application fee of ₹100/- applies to loans of up to ₹25,00,000/-.
An application fee of ₹200/- applies to loans exceeding ₹25,00,000/-.
Grievance Redressal / Help & Support
Write to the Managing Director, Pondicherry Industrial Promotion Development and Investment Corporation Limited, No.60, Romain Rolland Street, Puducherry 605001.
Call the office on 0413-2334361.
Send an email to info@pipdic.com.
Reach the General Manager (Administration) on mobile at 9894653835.
Official Application & Website
Verify the latest eligibility, dates and instructions before applying.