To provide financial assistance to the Vishwakarmas, i.e. the artisans and craftspeople.

Nature of Facility	Working capital Demand Loan
Purpose	To meet business related Working Capital requirements.
Target Group	A significant section of the work force of the Indian Economy consists of artisans and craftspeople, who work with their hands and tools, are usually self-employed and are generally considered to be a part of the informal or unorganized sector of the economy. These traditional artisans and craftspeople are referred to as ‘Vishwakarmas’ and are engaged in occupations like blacksmiths, goldsmiths, potters, carpenters, sculptors, etc., shall be eligible for registration/loan
Quantum of loan	First Loan Tranche: Maximum upto Rs.1.00 lakh Second Loan Tranche: Maximum up to Rs.2.00 lakhs Maximum : Rs.3.00 lakhs
Margin	NIL
Repayment Period	1st Tranche: Repayable in 18 Months. 2nd Tranche: Repayable in 30 Months. No Moratorium to be permitted under the scheme.
Security	Primary Security : Assets created out of loan. Collateral Security : Nil
Upfront fee / Processing Charges	Nil. However, Stamp Duty and CIC charges on actual basis shall be borne by the borrower (if applicable).
Coverage	The loans extended under the scheme will be guaranteed by the Guarantee coverage from CGTMSE. No Annual Guarantee Fee will be charged for the guarantee coverage. Coverage is under portfolio basis and the portfolio will be created on an annual basis ending with the financial year.

An artisan or craftsperson working with hands and tools and engaged in one of the family-based traditional trades specified as under, in the unorganized sector on self-employment basis, shall be eligible for registration/loan. Following trades are initially covered under the scheme:
(i) Carpenter (Suthar); (ii) Boat Maker; (iii) Armourer; (iv) Blacksmith (Lohar); (v) Hammer and Tool Kit Maker; (vi) Locksmith; (vii) Goldsmith (Sonar); (viii) Potter (Kumhaar); (ix) Sculptor (Moortikar, stone carver), Stone breaker; (x) Cobbler(Charmkar)/ Shoesmith/Footwear artisan; (xi) Mason (Rajmistri); (xii) Basket/Mat/Broom Maker/Coir Weaver; (xiii) Doll & Toy Maker (Traditional); (xiv) Barber (Naai); (xv) Garland maker (Malakaar); (xvi) Washerman (Dhobi); (xvii) Tailor (Darzi); and (xviii) Fishing Net Maker
The minimum age of the beneficiary should be 18 years on the date of registration and should not have availed loans under similar credit based schemes of Central Government or State Government.
The beneficiary should have undergone Skill Verification and successfully completed 5 days Basic Skill training to be eligible to avail first tranche of credit support
The registration and benefits under the Scheme shall be restricted to one member of the family. For availing benefits under the Scheme, a ‘family’ is defined as consisting of the husband, wife and unmarried children. A person in government service and her/his family members shall not be eligible under the Scheme.

Customer Identification proof along with NF998 MSME application.
Address Proof of unit and promoters.
License/permissions.
Financial papers for the last 3 years with ITR and projections.
Details of Guarantor with proof of assets.
Stock Statement.

13.00 % P.A.
Interest Subvention : The benefit of entire interest subvention of upto 8% shall be passed on upfront to the beneficiaries by MoMSME through Bank. However concessional/effective rate of interest shall not fall below 5.00% p.a.

Penal interest of 0.25%/0.50% may be chargeable as the case may be, from previous sanction to current renewal period, in case of lesser turnover routed through the account.
Agree to pay penal interest at 2% for overdrawn portion, in case of delayed regularization of the limit.