Short Term Loan Scheme — Up to ₹1L at 2% for Goa ST Community

The Short Term Loan Scheme is a debt facility offered by the Goa State Scheduled Tribes Finance and Development Corporation Limited, which works under Goa's Department of Tribal Welfare. Its purpose is to place quick, affordable credit in the hands of people from the state's Scheduled Tribe (ST) community at moments when an urgent expense cannot wait for a commercial bank's timelines.

A borrower can access up to ₹1,00,000, charged at a heavily subsidised 2% per annum. The money is meant for one of three pressing purposes: a business requirement, an education cost, or medical treatment.

Nothing here is dilutive. The Corporation does not ask for equity, a stake or any share of ownership in return — the amount is simply repaid in instalments once a three-month moratorium has passed. The thinking behind the programme goes beyond the individual loan: by plugging short-term funding gaps, it seeks to lift living standards within ST households in Goa, encourage self-reliance, and bring these families more fully into mainstream economic activity.

There is no closing date to work towards. The scheme runs on a rolling basis, so an eligible applicant can approach the Corporation whenever the need actually arises.

• Short-term loan of up to ₹1,00,000 per eligible borrower
• Subsidised interest of just 2% per annum
• Three-month moratorium before repayments begin
• Usable for business, education or medical expenses
• Open only to Scheduled Tribe individuals residing in Goa
• Rolling applications — no fixed deadline to meet

Who can apply

• The applicant must be an individual belonging to the Scheduled Tribe (ST) community of the State of Goa. Tribal community status, established within Goa, is the central condition.
• The scheme is framed for individual borrowers, so it is a person rather than a company or firm who approaches the Corporation.
• Repeat borrowing is allowed. Someone who has already taken a loan under this scheme may apply again, provided every earlier loan has been fully repaid.

Applicants should also be in a position to support their application with documentation — proof of ST community status, proof of residence in Goa, identity and address papers, and records connected to the business, education or medical purpose for which the loan is sought.

Short Term Loan Scheme — Up to ₹1L at 2% for Goa ST Community is open to startups at any stage. It is open to startups registered anywhere in India.

Short Term Loan Scheme — Up to ₹1L at 2% for Goa ST Community accepts applications on a rolling basis — there is no fixed cut-off date, so eligible startups can apply at any time. Because rolling programmes can pause without notice, confirm the window is still open on the official site before you start.

The Corporation sanctions a short-term loan of up to ₹1,00,000 for each eligible borrower. It reaches the borrower as a cash advance and is meant to settle a pressing need falling under one of three heads: business, education or medical treatment.

Interest is charged at a subsidised 2% per annum. Instalments that fall overdue carry a penal interest of 1%, which makes sticking to the repayment schedule worthwhile.

Repayment terms depend on the purpose of the loan:

• A three-month moratorium applies across the board, giving the borrower a grace window before the first instalment becomes due.
• Education loans are repayable over up to 20 months, in a maximum of 20 instalments.
• Business and medical loans are repayable over up to 10 months, in a maximum of 10 instalments.

Since this is a loan and not a grant, the capital is returned along with the interest charged. No equity, ownership share or profit participation in the applicant's venture is surrendered in exchange for the funding.

Short Term Loan Scheme — Up to ₹1L at 2% for Goa ST Community is offered by Goa State Scheduled Tribes Finance and Development Corporation, a government body. As a government-backed debt / loan, it is publicly funded and open to eligible startups across India.

Before you apply to Short Term Loan Scheme — Up to ₹1L at 2% for Goa ST Community, keep the following documents ready:

• A pitch deck or short business plan describing the problem, product and traction
• Company registration documents and PAN
• Founder identification (PAN / Aadhaar) and brief profiles
• Recent financial statements or projections
• Product details — a demo, prototype or working link if available

Exact requirements are confirmed on the official application portal — treat this as a preparation checklist.

Short Term Loan Scheme — Up to ₹1L at 2% for Goa ST Community is best suited for startups in India seeking non-dilutive funding of ₹1L. If that describes your startup, review the eligibility criteria above before applying.