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Government Of Assam Industries & Commerce

Angel Fund Scheme

Check list:

  • The activity should be under the purview of Angel fund scheme.
  • The applicant should have EM-I/EM-II , as applicable.
  • Ensure that the right application forms are filled up.
  • Check if all the accompanying documents are submitted while applying:----
  • Application in the prescribed Form-A, two copies of Passport size photograph ( Black & white), EM-I/EM-II , Scheme/project Report, Trade License, Certificate of Training .
  • Identity Proof:- ( Any of the following)Voter Identity Card/ PAN Card/ Driving License/ Job Card/ Aadhaar Card/ Identity Card .
  • Address Proof (Any of the following): - Electricity Bill/ Telephone Bill/ Bank Account Statement of any other bank/ Letter from reputed employer/ Letter from recognized public authority verifying the address of the customer to the satisfaction of the bank/ Ration Card /Voter Identity card.
  • Certificate of OBC/SC/ST/Differently able person, if any.

About angel fund scheme

Entrepreneurs in Assam are facing shortage of start-up capital in terms of equity to establish or to expand their existing venture. The Angel Fund Scheme is designed to give gainful employment to the first generation entrepreneurs through providing soft loan. The Department of Industries & Commerce, Government of Assam has selected Assam Gramin Vikash Bank (AGVB) as the financial institution to implement the scheme. The purpose of the scheme is to provide easy loan to skilled as well as un-skilled entrepreneurs for starting or developing micro enterprises under Manufacturing & Service sector, Agriculture & Allied activities or any other sector for gainful employment. Special thrust would be given to rural industries and petty business. Only individuals shall be eligible to avail the loan under the scheme. Target group of the scheme is as follows:

 
(i)Prospective entrepreneurs who have undergone skill development training arranged by Industries & Commerce Department.
(ii)Prospective entrepreneurs who have undergone skill development training under other govt. departments/organizations.
(iii)Existing artisans having traditional skill.
(iv)Preference will be given to women, differently able persons and SC/ST entrepreneurs.
(v)The applicant should not be a defaulter of any Bank/Financial institution

Salient features of the approve guidelines of the scheme are as follows

  • The applicant should be eligible under the Angel Fund Scheme.
  • The application should be submitted to DICC for financial assistance under the scheme.
  • The DLC under the Chairmanship of General Manager , DICC is authorized to approved the proposal and forwarded to the AGVB for sanction.
  • AGVB will issue sanction and disbursement within the stipulated time frame subject to availability of fund.

Limit of Assistance:
Micro sector activities are eligible under the scheme. A micro unit shall mean, a unit where the investment in plant & machinery does not exceed Rs. 25.00 lakh in case of manufacturing sector and Rs. 10.00 lakh in case of service sector units. The loan assistance is upto Rs.5 lakh with 15% promoter's contribution in case of new unit and 20% promoter's contribution in case of existing unit. Rate of interest is 5% per annum for both Term & Working capital loan with a interest free moratorium of 10 months.

Overall process flow for the Service

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(i)Prescribed application Form-A, along with the supporting documents to be submitted to concerned DICC any day during the office hour.
(ii)Application shall be scrutinized by the officials of DICC and placed before the District Level Committee (DLC) for approval.
(iii)On approval of the DLC, the proposal shall be forwarded to the concerned Branch of Assam Gramin Vikash Bank (AGVB).
(iv)On receipt of the proposal from DICC, concerned branch will examine the proposal thoroughly and issue sanction and disbursed the loan proposal within 14 days, subject to availability of fund.

Eligibility Criteria:

  1. Activity should be under the purview of the scheme.
  2. Unit should have EM-I/EM-II , as applicable.
  3. Applicant should have Training Certificate.
  4. The applicant should not be a defaulter of any Bank/Financial Institution.
  5. The applicant should have a copy of project report/scheme, as applicable.
  6. The applicant should have valid proof of Address.

Guidelines for Filing up the form

  1. All columns of the form are to be filled up.
  2. If any column is not applicable , then write " Not applicable".
  3. Avoid any overwriting in the specified box/es.

Fee including the payment mode

There are no fee for applying a loan under Angel Fund Scheme.

Accompanying documents required including

(a) Certificate, NOC , etc.
As per checklist , following documents, as applicable are required to be submitted

  1. Prescribed application form as per Form-A.
  2. Two copies of Passport size photograph ( Black & white).
  3. Copy of EM-I/EM-II , as applicable.
  4. A copy of Scheme/project Report.
  5. Copy of Trade License.
  6. Copy of Training Certificate.
  7. For Identity proof : ( Any of the following) Voter Identity Card/ PAN Card/ Driving License/ Job Card/ Aadhaar Card/ Identity Card .
  8. Address proof : (Any of the following) Electricity Bill/ Telephone Bill/ Bank Account Statement of any other bank/ Letter from reputed employer/ Letter from recognized public authority verifying the address of the customer to the satisfaction of the bank/ Ration Card /Voter Identity card.
  9. Copy of Caste Certificate : OBC/SC/ST
  10. Copy of Certificate for differently able person.

(b) Photo ID, size, quality , signature, etc.
Two copies of Pass port size photographs ( Black & White) should be attached with the application form Form-A.

Important Timeline

(a) Due date for submission
There is no fixed date of submission of application form. The applicant may submit their application in any working day at the concerned DICC.

(b) Time for processing
The application will be process at DICC and after approval of DLC, it shall be forwarded to AGVB for sanction. After thorough scrutiny , AGVB will issue sanction and on availability of fund, AGVB will disburse the loan within 14 days from the date of sanction.

How to apply

(i) Make sure that you are eligible for applying

 
1The activity should be eligible under the Angle Fund Scheme.
 The applicant should be eligible under the Angel Fund Scheme
 The prescribed application Form-A, should be downloaded from the official website of the department and filled application form along with the supporting documents to be submitted to concerned DICC any day during office hour.
2Application shall be scrutinized by the officials of DICC and placed before the District Level Committee (DLC) for approval.
3On receipt of the approval from DLC , the proposal shall be forwarded to the concerned Branch of Assam Gramin Vikash Bank (AGVB).
4On receipt of the proposal from DICC, concerned AGVB branch will examine the proposal thoroughly and issue sanction and disbursed the loan proposal within 14 days, subject to availability of fund.

(ii) Complete the forms to be filled.
(iii) Ensure that you attach the relevant documents
(iv) Pay the required fees: There are no fees for applying under the scheme.

Whether the service is Offline or Online

The applicant may set up his venture for livelihood.

Forms to be filled

Form-A : Application form for applying loan under Angel Fund Scheme

Whom to contact for any queries:

Addresses of District Industries & Commerce Centres (DICC), Assam

Angel Fund Scheme
S.N.Name of DICCAddress of DICC with e-mailName of General ManagerContact no of General Manager
1BaskaThe General Manager
DICC, Baska, Mussalpur
e-mail: baska@diccassam.com
D Das9864115695
2BarpetaThe General Manager
DICC, Barpeta
e-mail: barpeta@diccassam.com
D K Baruah9435140042, 03665-252137/236634
3BongaigaonThe General Manager
DICC, Bongaigaon, Industrial Estate, Bongaigaon
e-mail: bongaigaon@diccassam.com
Lila Bora9435314814, 03664-222314
4CacharThe General Manager
DICC, Cachar, Sonai Road, Silchar
e-mail: cachar@diccassam.com
Gautom Das9435192612, 03842-225569
5ChirangThe General Manager
DICC, Chirang, Kajalgaon
e-mail: chirang@diccassam.com
Kishore Das9435020604
6DarrangThe General Manager
DICC, Darrang, Mangoldoi
e-mail: darrang@diccassam.com
P K Goswami9954252341, 037113-230899/ 230290
7DhemajiThe General Manager
DICC, Dhemaji
e-mail: dhemaji@diccassam.com
B K Hazarika9435032193, 03532-225819
8DhubriThe General Manager
DICC, Dhubri, Gauripur
e-mail: dhubri@diccassam.com
P K Sharma9435049445, 03662-281447
9DibrugarhThe General Manager
DICC, Dibrugarh, CR Building
e-mail: dibrugarh@diccassam.com
 R Lagashu9435035207, 0373-2319412/2311238
10Dima HasaoThe General Manager
DICC, Dima Hasao, Haflong
e-mail: nchills@diccassam.com
S R Pegu9864078533, 03673-236826
11GoalparaThe General Manager
DICC, Goalpara
e-mail: goalpara@diccassam.com
Biswajit Das9435100143, 03663-240070
12GolaghatThe General Manager
DICC, Golaghat
e-mail: golaghat@diccassam.com
R J Sabhapandit9435359731, 03774-280445
13HailakandiThe General Manager
DICC, Hailakandi
e-mail: hailakandi@diccassam.com
 03844-223133
14JorhatThe General Manager
DICC, Jorhat, I/E Cinammora
Jorhat-8
e-mail: jorhat@diccassam.com
H R  Deori9864042694, 0376-2360353
15Kamrup (Metro)The General Manager
DICC, Kamrup, Guwahati-21
e-mail: kamrup@diccassam.com
P K Bora9435335847, 0361-2551952
16Karbi AnglongAdditional Director of Industries & Commerce
DICC, Karbi-Anglong, Diphu
e-mail: karbianglong@diccassam.com
H K Sharma (II)9435064294, 03671-273356
17KarimganjThe General Manager
DICC, Karimganj
e-mail: karimganj@diccassam.com
 03843-273130/274210
18KokrajharThe General Manager
DICC, Kokrajhar
e-mail: kokrajhar@diccassam.com
P Hazarika9864050149, 03661-270262/ 270966
19LakhimpurThe General Manager
DICC, Lakhimpur
e-mail: lakhimpur@diccassam.com
I B Konowar03752-222405
20MorigaonThe General Manager
DICC, Morigaon
e-mail: morigaon@diccassam.com
H K Borkotoki9435061712, 03678-240324
21NagaonThe General Manager
DICC, Nagaon
e-mail: nagaon@diccassam.com
A K Nath9435164668, 03672-233173
22NalbariThe General Manager
DICC, Nalbari,
e-mail: nalbari@diccassam.com
T Ahmed9435385253, 03624-220310/221271
23SivasagarThe General Manager
DICC, Sivasagar
e-mail: sivasagar@diccassam.com
Hitesh Deori9435350938, 03772-223653
24SonitpurThe General Manager
DICC, Sonitpur, Tezpur
e-mail: sonitpur@diccassam.com
M C Deka9954030201, 03712-220290
25TinsukiaThe General Manager
DICC, Tinsukia, Borguri
e-mail: tinsukia@diccassam.com
A K Baruah9864255814, 0374-2331960
26UdalguriThe General Manager
DICC, Udalguri
e-mail: udalguri@diccassam.com
J Rangpi9435067048, 03711-225520
27Kamrup (Rural)The General Manager
DICC, Kamrup (Rural)
Mirza, Dakshin Kamrup College Road, Mirza
e-mail : kamrup_r@diccassam.com
Hemangadip Das i/c9435014772