Term Loan Scheme for Backward Classes in Haryana: Benefits & Apply
Overview
The Term Loan Scheme for Backward Classes is a Haryana state government scheme administered by the Haryana Backward Classes and Economically Weaker Sections Kalyan Nigam. It provides medium-term loans to backward class individuals to start or expand small businesses and self-employment ventures.
The scheme is designed to bring financial inclusion to communities that are traditionally underserved by mainstream banking.
Objective
The scheme aims to provide structured financial support to backward class entrepreneurs in Haryana. It encourages productive economic activity and reduces dependence on moneylenders or informal credit sources.
Benefits
- Loans for starting or expanding a small business or trade
- Concessional rate of interest lower than market rates
- Structured repayment tenure suited to the business cash flow
- Broad coverage of eligible business activities
Eligibility
- Must belong to a notified Backward Class in Haryana
- Must be a permanent resident of Haryana
- Age between 18 and 55 years
- Annual family income not exceeding the prescribed limit
- Must not have a history of loan default with any government scheme
Exclusions
- Applicants above the prescribed income limit are not eligible
- Those who have defaulted on previous government loans are excluded
- Non-residents of Haryana cannot apply
Application Process
- Visit the nearest Haryana Backward Classes Kalyan Nigam district office
- Obtain and fill in the term loan application form
- Submit the completed form with all documents
- Application undergoes scrutiny and field verification
- Loan is sanctioned and disbursed to the bank account of the approved applicant
Documents Required
- Backward Class certificate from the competent authority in Haryana
- Haryana residence or domicile certificate
- Age proof (Aadhaar card, birth certificate, or voter ID)
- Income certificate
- Business plan or project report
- Aadhaar card
- Bank account details
- Passport-size photographs
