Equipment Refinance Scheme — Up to ₹90L Loan for Puducherry SSI Units — Frequently Asked Questions

The loan is need-based and capped at ₹90,00,000, or ₹90 lakh. PIPDIC decides the sanctioned figure based on what the proposed equipment purchase actually requires.

Rates move in slabs. A loan of up to ₹25 lakh carries 10% p.a., a loan between ₹25 lakh and ₹50 lakh carries 11% p.a., and anything above ₹50 lakh carries 12% p.a. Units promoted by women, Scheduled Caste, Scheduled Tribe or differently abled persons pay 0.5% less than the applicable rate.

The applicant must own a Small Scale Industrial unit that has been running for at least four years, has made a profit in each of the preceding two financial years, has declared dividend in each of those two years, and has never defaulted to any bank or institution. The loan must be for identifiable equipment or machinery.

No. This is a refinance loan, which means it is debt. The funding is non-dilutive and promoters retain complete ownership of their unit.

There is no closing date. The scheme runs on a rolling basis and stays open through the year, so a unit can apply whenever it is ready to invest in equipment.

It is meant for identifiable pieces of equipment or machinery. That covers diversification into new product lines, modernisation of existing facilities, expansion of production capacity, replacement of outdated machinery, and purchase of balancing equipment.

Fees are ₹100 for loans up to ₹25 lakh and ₹200 for loans above ₹25 lakh. If you pay online, you are taken to a payment summary page, and a receipt is generated on the PIPDIC website which you should print or save as a PDF.

Applications are made online through the PIPDIC portal. You begin by registering as a new customer with a username, email, password and captcha, then verify your email using the OTP sent to you. From the customer dashboard you update your profile, open the Applications tab, read the terms, interest rates, fees and collateral norms, click 'I Agree', and fill the multi-step loan application form. You then accept the declaration, enter the bio-data of the promoter, partner or director, upload the required documents, and pay the application fee. Progress can be tracked from the dashboard by clicking 'View My application', where the status may show as 'UNDER REVIEW'.

The portal asks for the bio-data of the promoter, partner or director, along with KYC and other supporting documents uploaded through the 'Choose File' option. Before you begin, the site displays the general terms and conditions, applicable interest rates, fees and collateral norms so you can confirm your documents are in order.

It starts with a completeness and eligibility check. PIPDIC then reviews the unit's financial performance, its operating history, its profit and dividend record for the last two financial years, and the promoter's credit history. An internal committee evaluates whether the proposed use of funds matches the scheme's objective, and shortlisted applicants may face further due diligence or an interview before final approval.

No. DPIIT (Startup India) recognition is not listed as a mandatory requirement for Equipment Refinance Scheme — Up to ₹90L Loan for Puducherry SSI Units, though having it can strengthen your application and unlock other benefits.

Equipment Refinance Scheme — Up to ₹90L Loan for Puducherry SSI Units is offered by Pondicherry Industrial Promotion Development and Investment Corporation (PIPDIC), a government body. It is provided as non-dilutive funding.