Punjab Financial Corporation
Punjab Financial Corporation a premier leading institution of Punjab, is a body incorporated under the State Financial Corporations Act 1951. The Corporation came into existence on Ist February,1953. To perform the role of a Development Bank in the State of Punjab, Corporation was established with an objective of granting loans for the establishment of new industrial concerns, modernisation, expansion/diversification of existing activities etc.
The Corporation has played significant role in bringing about decentralized economic development, development of backward regions and also reduction in regional imbalances in the State. The Corporation also played a magnificent role for the promotion of small and tiny units in the state and creates self- employment opportunity for young entrepreneurs. During 50 years of its existence PFC has an excellent track record and has emerged a forceful prime mover of industrialization in the state. The Corporation has so far assisted more than 18000 Nos. of units with the total financial assistance of more than Rs.1400 crores and also generated employment for more than two lakh persons.
The Head Office of the Corporation is situated at Chandigarh and there are nine District Offices i.e. Amritsar, Bathinda, Ferozepur, Hoshiarpur, Jalandhar, Ludhiana, Patiala, Ropar( at Mohali) and Sangrur
Single Window Scheme
Objective:
Single Window scheme is aimed at providing assistance for acquisition of fixed assets as well as current assets through single source.
Eligibility Criteria:
All eligible small scale and tiny units whose aggregate cost of project (excluding working capital margin) and total working capital requirement is within Rs. 200.00 lac. Proposal for modernization and technologies upgradation of existing well run units would be eligible under the scheme provided the aggregate of venture outlay of the original project and the cost of modernisation and technology upgradation scheme does not exceed the ceiling of Rs. 200 lac. Proposal for modernisation of potentially viable sick units would also be eligible under single Window Scheme.
Cost of Project:
As per the revised Single Window Scheme the project cost up to Rs. 200.00 lac (excluding margin money for working capital) and total working capital requirement can be covered under the scheme.
Terms of Assistance:
Interest Rate:
Interest rate is linked with refinance rate of SIDBI.
Repayment Period:
Repayment period may be three years to ten years depending upon the profitability of the unit with an initial moratorium period of 12-18 months.
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