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Government Of Assam Department of Agriculture & Horticulture Assam Small Farmers’ Agri Business Consortium (ASFAC)

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Equity Grant & Credit Guarantee Scheme
Credit Guarantee Fund

Eligibility Criteria for Farmer Producer Companies (FPCs)

  • It is a duly registered FPC under Part IXA of the Indian Companies Act, 1956.
  • It has raised equity from its Members as laid down in its Articles of Association/Bye laws.
  • The number of its individual shareholders shall not be lower than 500.
  • Minimum 33% of its shareholders are small, marginal and landless tenant farmers.
  • Maximum shareholders by any one member othe than an Institutional member is not more than 5% of total equity of the FPC.
  • It has a duly elected/nominated Board with a minimum of five members and having adequate representation from farmers and minimum one woman member.
  • It has a business plan and budget for 18 months.
  • The Bank ELI has extended/sanctioned within six months of the date of application for the Guarantee or in principle agreed in writing/has expressed willingness in writing to sanction Term Loan/ Working Capital/ Composite Credit Facility without any collateral security or third party guarantee including personal guarantee of Board Members.