SFAC to provide capital for agri-business ventures in Kerala
January 27th, 2012 - 8:13 pm ICT by IANS ( Leave a comment )Kochi, Jan 27 (IANS) Ready to pump in money to agri-business in Kerala, the Small Farmers’ Agri-Business Consortium (SFAC) is inviting entrepreneurs to propose ventures for funding.
“So far we have assisted 26 projects in Kerala by providing venture capital assistance to the tune of Rs.4.25 crore. We invite more entrepreneurs in Kerala to propose agri-business ventures and make use of the available scheme to get funding,” said SFAC Director Ashok B. Pillai.
Agricultural entrepreneurs can look forward to venture capital assistance to the tune of 10 per cent of total project cost or 26 per cent of the total promoter’s equity or Rs.75 lakh, whichever is lower.
SFAC since its inception in 1994 has sanctioned 349 projects and invested more than Rs.100 crore across the country.
“Units which have established backward linkages would qualify for assistance under the scheme. SFAC also encourages farmer producer groups, companies, co-operatives and self help group’s to set up projects for which we could consider liberal venture capital assistance,” added Pillai.
The consortium, promoted by the Indian government’s department of agriculture, also funds fisheries and horticulture projects.
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Tags: agricultural entrepreneurs, ashok, backward linkages, business consortium, business ventures, co operatives, department of agriculture, farmers, fisheries, horticulture, inception, indian government, kochi, lakh, money, producer groups, promoter, sfac, venture capital assistance
