#goans

EDC Limited, a premier financial institution in Goa has an excellent record of achievements. It has already disbursed  financial assistance exceeding Rs 3000 crores by way of  term loans to thousands of industrial and service sector projects. 

Micro, Small and Medium Enterprises, or MSME in short are considered the backbone of the Indian economy. And admittedly Goa is no exception. 

A reassuring news is the MSME sector has shown strong resilience even during turbulent times – as a result this sector has sustained an annual growth rate of 10 % over the past couple of years. 

The MSME sector contributes to the development of Goa by generating employment, boosting industrialization in backward/rural areas and facilitating exports of various products.  

As in any state in India, running a business in Goa can be challenging. Due to variation in demands and other factors, there can be times when a business can be in a financial distress.

Or an entrepreneur may need financial assistance for setting up a new project.  

In such a scenario, businesses or individuals  may need funds on an urgent basis. The best answer to address this situation is to avail an MSME loan. 

The reason is simple enough.

Getting an MSME loan is straightforward and hassle free.

Disbursal is done in quick time and formalities are minimal

You can access your account online and get your loan details and statements on the go. 

However, those who need financial assistance under this loan scheme must keep in mind the following. 

The area of operation of the enterprise must be in the state of Goa

The unit must be set up as micro, small, medium and large enterprise or in the services sector

Existing industrial enterprises or service sector units undergoing expansion/ modernization/ diversification/ renovation are eligible. 

Loans are also available for tourism related activities ( setting up hotels, restaurants, or tourist agencies ) , energy saving systems, healthcare units ( diagnostic centers, hospitals, and  nursing homes ) 

The repayment history of the promoter with banks and financial institutions must be satisfactory 

The maximum amount of loan shall have the following limits

Proprietary concerns  - Rs 400 lakh 

Partnership firms – Rs 700 lakh

Corporate bodies / Limited Liability Partnership  - Rs 1500 Lakh 

This loan scheme is operated by EDC limited, a premier financial institution in Goa. This institution is well-known for operating its flagship scheme, the Chief Minister’s Rojgar Yojana targeted at the unemployed youth. 

Several economic experts have  reiterated the fact that Goa has all the advantages and the potential to become  a top class First World State provided a proactive corporate governance is in place. 

Fortunately, the state of Goa is leaving no stone unturned to achieve this end. 

8k Goa has a vast educated work force. Realizing this the Government of Goa is focusing on creating long term employment opportunity and opening up  prospects Loans for entrepreneurs. 

Today the face of Goa has transformed from being just a tourist attraction to a preferred location for startups and innovators. It is no wonder the State is focusing on creating improved infrastructure and favorable policy changes so that a robust entrepreneurial ecosystem is in place. 

Term loans offered by the EDC Limited for setting up projects for industrial activities  should go along way in putting Goa on a strong economic footing.