Financial Assistance for Purchase of Existing Assets supports established businesses in Puducherry by funding the purchase of land, buildings, and machinery. Meant for units with at least two years of successful operation, this scheme helps businesses grow or keep their industrial capacity through a simple online application process.
Pondicherry Industrial Promotion Development and Investment Corporation Limited (PIPDIC) runs this scheme under the Department of Industries and Commerce, Puducherry. It gives term loans to buy existing land, buildings, and machinery that still have good residual life. Applications are accepted online only.
Financial Assistance for Purchase of Existing Assets - Overview
This scheme is open to industrial units that have been in operation for a minimum of two years with a good track record. The money can be used to buy existing land, buildings, and machinery that still have meaningful residual life. For example, if Ramesh has run his small manufacturing unit successfully for 28 months, he becomes eligible to apply for this support.
Key Information
| Detail | Information |
|---|---|
| Scheme Name | Financial Assistance for Purchase of Existing Assets |
| Level | State |
| Beneficiary State | Puducherry |
| Category | Banking, Financial Services and Insurance, Business and Entrepreneurship |
| Target Beneficiaries | Business Entity |
| Benefit Type | Cash |
| Nodal Department | Industries and Commerce Department, Puducherry |
| Application Mode | Online |
| Official Website | pipdic.in |
Benefits
The scheme offers a minimum loan amount of ₹5,00,000 with a maximum limit as per the standard term loan policy. The interest rate is set at 1% higher than the prevailing rate. Repayment is planned over 5 years, which includes a comfortable moratorium period of 1 year.
Eligibility
This support is available to a business unit that has been in existence for at least 2 years and keeps a good financial track record. The assets being bought should be productive and in working condition, and the unit should not have any loan default with PIPDIC or other institutions.
Application Process
Applications are accepted online through the PIPDIC portal. The steps below walk through the process.
STEP 1 - Go to the official PIPDIC website and click on the "New customer" link to register. Verify the email with the OTP sent to the registered address.
STEP 2 - Log in with the created credentials and update the profile through the "Edit Profile" section. Keep personal and business details complete and correct.
STEP 3 - Open the "Applications" tab on the dashboard, review the terms checklist, and upload the promoter bio-data and required documents.
STEP 4 - Complete the payment of the application fee online and submit the application. Track the status anytime from the customer dashboard.
Application Fees: for loans up to ₹25,00,000 the fee is ₹100, and for larger amounts the fee is ₹200. For any help, email info@pipdic.com or call 0413-2334361.
For more details, refer to the user manual, the application guide, and the application link.
Documents
Documents are organised into two phases. At the time of filing the request, the following are needed.
- Identification and entity proofs: PAN card, Aadhaar card, Voter ID, Ration card, promoter bio-data, nativity certificate, MSME registration, and constitution documents such as Partnership Deeds or Articles of Association.
- Technical and property documents: Sale or Lease Deeds, site plans, factory layouts, and a Detailed Project Report for loans above ₹25,00,000. Machinery quotations, comparative statements, and marketing tie-up letters are also needed.
- Financials: Bank passbooks, profitability statements, and the last 3 years of audited Balance Sheets for loans above ₹10,00,000.
During processing or after sanction, be ready to submit property legal opinions, encumbrance certificates, valuation reports, and factory licences from departments such as the Puducherry Planning Authority or the Electricity Department.
References
Scheme Information | PIPDIC Brochure | Contact Us
FAQ's
How do I register on the portal?
Visit the PIPDIC website, click login, and look for the "New customer" link. Follow the prompts to enter details, verify the email with the OTP, and create the credentials.
What documents are needed before applying?
Keep the KYC documents, entity registration proofs, detailed bank statements, machinery original quotations, and if applicable, the Detailed Project Report and promoter bio-data ready.
How can I track my application?
Log in to the customer dashboard and click the "View My Application" link. The live status appears there and updates from "Under Review" as the file moves forward.
Who can I call for help?
Contact the office at 0413-2334361, or reach the General Manager for administrative support at 9894653835.