| Assam
Financial Corporation (AFC)
Assam Financial Corporation (AFC) was established under the
Central Act, viz., The State Financial Corporations Act, 1951,
with the basic objective of promoting and developing small
scale and medium scale industries in the State with a special
focus on spreading industrial culture in the rural, semi-urban
and backward areas of the States. The corporation is owned
by the Assam state government jointly with IDBI and is functioning
under the administrative control of the state government
The Chairman and Managing Directors of AFC are senior IAS
officers appointed by the state government in consultation
with IDBI. The Board of Directors of AFC are highly professional
in character and consist of senior executives of the state
government, a representative each from RBI, IDBI and SIDBI,
besides other interests like Co-operatives, Life Insurance,
entrepreneurs are also represented on the Board. AFC employs
highly professional and technical personnel to carry on the
business operations such as M.B.As., C.As., engineers, marketing
experts, etc.
Assam Financial Corporation caters to the requirements of
the entrepreneurs .It provides term loan to small and medium
scale industries for creation of assets, viz., land, building
and machinery. It also provide working capital term loan to
the industrial units on competitive terms.
The Corporation also provides Non Fund based services like
Merchant Banking, Under-Writing of Public Issues, Project
Counselling, Bill Discounting, Leasing and Hire-Purchase.
It is operating a number of financial assistance schemes for
the benefit of the entrepreneurs such as assistance for marketing
activities, equipment finance, special schemes for assistance
to ex-servicemen, single window scheme, etc.
Assam Financial Corporation provides maximum loan upto Rs.240
lakhs. The interest on loan ranges between 13.75% to 16.5%
depending upon the size of the loan and term.
Financial Schemes
Type of loan advanced for various purposes :
- Term Loan,
- Soft Loan,
- Working Capital Loan.
| Quantum of Loan |
Interest on term
Loan & working capital |
| i) upto 0.25 lakhs |
12% |
| ii) Above 0.25 lakhs
to 2.00 lakhs |
13.5 |
| iii) Above 2.00 lakhs |
16% |
| iv) Medium (non-SSI)
(on Term Loan) |
18% |
Period of repayment : 6
to 8 years depending on quantum of loan and profitability
etc. excluding initial moratorium.
Contact Person
Shri P Basumatary,
Managing Director
Assam Financial Corporation
"Vittiya Bhavan",
M.S.Road,
Paltanbazar,
Guwahati-781 008.
Telephone : 0361-523448, 521859
Fax : 0361-521859
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