Funding Options - State Financial Corporations Offering Specialised SSI Schemes
Andhra
Pradesh State Financial Corporation (APSFC)
Andhra Pradesh State Financial Corporation
(APSFC) is a term lending Institution established in
1956 for promoting small and medium scale industries
in Andhra Pradesh under the provisions of the Sate FInancial
Corporation' Act,1951.The corporation has many entrepreneur
- friendly schemes to provide term loans,working capital
term loans,special and seed capital assistance to suit
the needs of various categories of entrepreneurs.The
Corporation has 45 years of expertise in industrial
financing engaged in the business of financing tiny,small
and medium scale sector units and thriving for balanced
reginal development of the state.
Arunachal
Pradesh Industrial Development and Financial Corporation
(APIDFC)
Arunachal Pradesh Industrial Development and Financial
Corporation (APIDFC) was incorporated in the year 1978
as company under Companies Act, 1956 for promotion of
industries in Arunachal Pradesh. It is performing the
twin role of State Industrial Development Corporation
and State Financial Corporation.
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.
Bihar State Financial Corporation
(BSFC) is the main state level institution providing
term lending facilities to industrial entrepreneurs.
Banks have also shown increasing interest in term lending
to industrial units. BSFC will be restructured and strengthened
to meet the growing financial and mercantile needs of
entrepreneurs.
The Delhi Financial Corporation has been rendering yeoman
service to small scale entrepreneurs in Delhi and Chandigarh.
It has made finance available to existing and prospective
entrepreneurs at very reasonable terms.
The corporation has devised suitable
schemes for catering the needs of different categories
of entrepreneurs
The Economic Development Corporation (EDC) of Goa, established
in 1975 has been the State Financial Institution. It
has been incorporated as an SIDC and a limited company
. However, it has also been accorded twin status of
SFC by IDBI/SIDBI.
Gujarat State Financial Corporation (GSFC) incorporated
under the State Financial Corporations Act of 1951,
is a trend setter and path breaker in the field of industrial
finance. It plays a major role in the development and
industrialization of Gujarat by extending credit assistance
to suit individual requirements.
Gujarat State Financial Corporation
established with main object for development activities
to contribute to social upliftment, regional dispersal
of industrial activities and to adding to Gross Stock
Domestic Products. Also for promoting economic growth,
balanced regional development and widening of entrepreneurial
base by financing small enterprises. GSFC a premier,
regional development bank set up by Government of Gujarat,
to provide finance to new industrial units, for acquisition
of Fixed Assets, Expansion, Modernization, Diversification,
Renovation etc. The Industrial concern must set up in
the state of Gujarat and the Union Territories of Diu,
Dadra and Nagar Haveli.
Haryana Financial Corporation has been set up under
an Act of Parliament known as State Financial Corporation's
Act 1951 and the working is governed by this act. The
Head Office of the Corporation is at Chandigarh and
Branch Offices at each District Headquarter of the State.
HFC meets the credit needs of small/medium scale industrial
units by advancing term loans. The loans are advanced
primarily for acquiring fixed assets such as land, building,
plant & machinery etc.
Himachal Pradesh Financial Corporation (HPFC) was established
in the State 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 State. The Corporation is owned by the
State Government jointly with SIDBI and is functioning
under the administrative control of the State Government.
Jammu
& Kashmir State Financial Corporation (J&KSFC)
The Jammu & Kashmir State Financial Corporation
(J&KSFC) was established to act as a Regional Development
Bank with the aim of boosting economic development in
the State for providing financial assistance in the
shape of loans to prospective entrepreneurs for development
of Industries. It was incorporated under The SFCs Act
1951 on 2nd December 1959 as a Development Bank for
promotion of Small Scale Industries, hotels, houseboats
and transport sector in Jammu & Kashmir.
The Board of J&K SFC is headed
by Honourable Finance Minister, Shri Mohd. Shafi. The
Board has been from time to time assessing the performance
of institution with a view to achieve the objectives
for which it was instituted.
KSFC gives financial asssistance to set up tiny, small,
medium and large scale industrial units in the Karnataka
State. The Corporation extends term loans to new &
existing units upto Rs. 500 lakhs for corporate bodies
and registered co-operative societies. Term loans upto
Rs. 200 lakhs are sanctioned to proprietary, partnership
and joint hindu undivided family concerns.KSFC extends
lease financial assistance and hire purchase assistance
for acquisition of machinary/equipment/transport vehicles.
KSFC has a merchant banking department and is approved
as a category I merchant banker by SEBI. Under this
activity it does management of public issues, under-writing
of shares, project report preparation, deferred payment
guarantee, syndication of loans, bill discounting etc.The
fund based activities like subscription to non-convertible
debentures, actoringservices are also considered.
Kerala Financial Corporation (KFC) incorporated under
the State Financial Corporations Act of 1931, is a trend
setter and path breaker in the field of industrial finance
to service sector projects. It plays a major role in
the development and industrialisation of Kerala by extending
financial assistance to suit the requirementsof the
enterpreneurs.
Madhya Pradesh Financial Corporation (MPFC) is the premier
institution of the State engaged in providing financial
assistance and related services to small to medium sized
industries. Also, it is registered as Category-I Merchant
Banker with Securities Exchange Board of India and setup
a separate Merchant Banking Division in the name of
MPFC Capital Markets.
Incorporated in the year 1955, under
the State Financial Corporation Act, 1951 (No. LXIII
of 1951), it works under the control of the Board of
Directors, consisting of representatives from State
Government, Industrial Development Bank of India, Small
Scale Industrial Development Bank of India, Reserve
Bank of India, Scheduled Banks, Insurance Companies,
Co-operative Banks and other shareholders.
MPFC is a well knit organisation with its head quarters
at Indore - the industrial hub of Madhya Pradesh. It
has zonal offices at Raipur, Jabalpur, Bhopal, Gwalior,
Indore, Satna, and various branches at different places;
making a total of eighteen offices throughout Madhya
Pradesh.
The
Maharashtra State Financial Corporation (MSFC)
The Maharashtra State Financial Corporation (MSFC) has
been set up under the 'State Financial Corporations
Act, 1951. The Corporation operates in State of Maharashtra
from 1962 and in State of Goa and Union Territory of
Daman & Diu since 1964.
The Orissa State Financial Corporation (OSFC) is the
primary state level financing institution incorporated
in the year 1956 under the State Financial Corporations
Act, 1951. The Corporation extends term loan upto a
maximum of Rs. 150.00 lakhs for acquiring fixed assets
like land, building, plant and machinery, equipment
and margin money for working capital for setting up
of industries. OSFC also provides working capital assistance
under Single Window Scheme. Priority is given to small
and tiny sector industrial units in backward areas.
Punjab Financial Corporation a premier
leading institution of Punjab, is a body incorporated
under the State Financial Corporations Act 1951. The
Corporation came into existence on Ist February,1953.
To perform the role of a Development Bank in the State
of Punjab, Corporation was established with an objective
of granting loans for the establishment of new industrial
concerns, modernisation, expansion/diversification of
existing activities etc.
The Rajasthan Financial Corporation (RFC) was constituted
under a notification of the State Government dtd. 17
January, 1955 under the SFCs Act, 1951, for providing
long term financial support to tiny, small scale and
medium scale industries in the State of Rajasthan.
The Corporation is continuing to work
as a Catalyst of development for translating into practice
the industrial policies and priorities of the Central
and the State Governments as also for providing and
improving upon immediate assistance in the planned and
balanced development of industries in the State, particularly
in the small and tiny sectors.
Uttar Pradesh Financial Corporation (UPFC ) was established
in 1954 under the State Financial Corporation Act, 1951
with its Head Office at Kanpur. The UPFC took a humble
step for the industrial development of the State of
Uttar Pradesh by providing term loan assistance to small
and medium scale units. Several units nurtured by UPFC
have now become large enterprises.
West Bengal Financial Corporation (WBFC ) was established
under the State Financial Corporation Act, 1951. The
WBFC provides loans, assistance and term finance to
small and medium scale industries.
