NSIC CERTIFICATE

NSIC certificate is issued by National Small Industries Corporation to support MSMEs with registration, subsidies, tenders, and financial assistance.
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NSIC CERTIFICATE

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NSIC (National Small Industries Corporation), established in the year 1955, aims to support, promote, develop, and foster the ministry of MSME – Micro, Small, and Medium Enterprises of India. NISC is an ISO 9001-2015 certifies organization under the Government of India Enterprise. NSIC has training plus incubation centers, a network of offices, and technical centers in the whole country supervised and governed by professionals.

Offering unified support and manpower services in marketing, finance, technology, and support, NSIC also facilitates customized schemes, thus enhancing the competitiveness, diligence, and growth of the MSMEs and eventually resulting in the overall development of the country’s economy.

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Types of Loans promoted by NICs
  • MSME Loan
  • Working capital loan
  • Term loan
  • Overdraft Facility using Current Account
  • Cash Credit loan
  • Bills Discounting
  • Unsecured Short-Term Business Loan
  • CGTMSE – ‘Credit Guarantee Fund Scheme for Micro and Small Enterprises’ scheme loan
  • Guarantees
  • Letter of Credit

Objectives of NSIC:

The main goals of NSIC are:

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Eventually works on profitability by enhancing efficiency and productivity within the enterprise

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To enhance business growth by outreaching corporates and thus creating business opportunities

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Helps in working on a safe ad clean environment to work conductively

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Helps in training and self-employment

5

Upgrades skills of existing and new manpower and employees

Functions of NSIC:

The main areas of functioning of NSIC are:

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Helps the MSMEs to elevate their competitiveness by running and providing various development schemes

2

Provides the MSMEs various integrated support series on marketing, finance and technology

3

Skill Development and Training programs initiated and run by NSIC in keeping the MSMEs updated and upgraded.

Schemes under NSIC:

To foster and upgrade the growth of MSMEs in the country, NSIC has various schemes:

Bank Credit Facilitation –

NSIC collaborates with various top banks in India, both public and private, to facilitate the MSMEs with credit support to meet their capital and financial needs and to help with the documentation process.

This is a beneficial scheme for MSMEs in the manufacturing unit and has the benefit of UAM – Udyog Aadhar Memorandum. They have the leverage to take a customized high-value loan up to Rs. 15 crores for the procurement of raw material in the form of credit or advance payment.

Under this scheme, NSIC offers infomediary services providing vital statistical data and information on business and technology exhibiting the competence of the MSMEs. It can help in providing information on the following topics:

  • Tenders on a national level on email
  • Trust seal of NSIC
  • The Web store of MSMEs
  • MSME interactive database
  • National Tender
  • Centralized emailing system
  • Popular products
  • LIVE chat and call center support
  • Discussion forums
  • Payment Gateway
  • Membership subscription
  • Other Value-add services

Launched in 1976, MSMEs make government purchases via a one-point registration process.

A consortium is created to promote small scale products and goods of micro and small-scale entrepreneurs.

This helps in understanding the current market scenario and understanding the demand, needs, behaviours, preferences, attitudes, and tastes of the potential customers.

Under the PPP mode – Public-Private-Partnership, NSICs have set up training and incubation centers – NSIC-TIC by initiating franchisee agreements and arrangements with private entities at various locations in the country.

especially designed for the SC/ST group to help them start-up or develop their businesses.

This addresses employment, the standard of living, and the livelihood of the public of India, in a scenario where the country’s population is growing by leaps and bounds.

This works on sustainable business relations and aims to strengthen international business ties by offering consultancy to other developing countries.

Procedure of Spices Board Registration:

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Through private and public sector banks, NSICs provide credit and loan facilities to MSMEs

2

Priority Sector is promoted

3

It gives an option to switch from one financial institution like banks to the other.

4

Guidance to get the best interest rates for MSMEs

5

Assist and direct MSMEs to avail credit

6

Holistic support to MSMEs

Eligibility:

A substantial segment of the Indian population depends on NSIC and this sector for financial independence and to give impetus toward the growth of agriculture, housing, export, education, and a host of other micro and small businesses. No Collateral is expected if the loan amount is Rs. 10 lakhs. If the MSME condition is favourable, then it can be granted up to Rs. 25 lakhs without collateral.

The firms need to follow the eligibility criteria as under:

  • MSMEs with a turnover from Rs. 5 crore – Rs. 250 crores
  • Should be operational for the last 3 years
  • Should be thorough in business with complete details, could be work-in-progress, services and finished goods, comprehensive details about the business and viability.
  • Past Loan repayment records if any
  • Favourable CIBIL score

Documents required:

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Certificate of Incorporation, Company Pan card, MOA & AOA.
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UDYAM registration certificate
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MSME DATA BANK Registration & ID Password
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GST Certificate
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Identity Proof, Address Proof (Personal and Business),
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Latest Income Tax Returns
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Cancel Cheque
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Process Flow chart
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Raw Material details
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Rent agreement or lease deed
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A complete profile of the business
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The Balance sheet of the last 3 years
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CMA Data (if the amount is above Rs. 100 lakhs)
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Certificate from Pollution Control Board, electricity board and other statutory authorities
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Raw Material Purchase Bill
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Value of stock, monthly production, and sales data, list of debtors and creditors, and other business-related information.

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Purchase Order / Work order copy
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List of Machinery
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Man Power details
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Factory Area Declaration
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Lab testing Facilities
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Rejected Material handling process
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Safety Measures
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Warranty / Guarantee certificate
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Properly filled application form