Gujarat - the land of opportunities- has had a long history of trade and commerce. The ancient sites of the Indus Valley Civilisation at Dholavira in Kutch bear ample evidence to this. It was in this spirit that Gujarat State Financial  Corporation (GSFC), a premier regional development bank, was established in 1960.

Its role can be broadly defined as under 

• Financing industrial units in Gujarat and the Union Territories of Daman & Diu as well as Dadra & Nagar Haveli.
• Financing new SSI units and existing units undertaking expansion, diversification, modernisation and renovation.
• Operating schemes for financial assistance for doctors, women entrepreneurs and professionals.
• Operating finance to SSI units for obtaining ISO certification, marketing and sales promotion activities.

GSFC provides the following services

• Providing financial assistance of up to Rs. 24 million for acquiring fixed assets like land, factory building, Plant & Machinery, including technical know-how fees and pre-operative expenses for setting up new projects.
• Offering term finance for expansion, diversification, renovation, modernisation, procuring quality control equipment, pollution control equipment and energy -saving devices.
• Offering financial assistance under different schemes as General Term Loan, Seed Capital and Special Capital.
• Providing financial assistance at liberal terms to SC/ST entrepreneurs and ex-servicemen.
• Eligibility of 1% concession on interest rates on loans up to Rs. 24 million (USD 4.9 million approximately) for reputed clients with good track record (GOLD CARD SCHEME)
• Loan assistance to small or medium-sized units that are financially sound and functional for at least 4 years, earning profits for the last 3 years.
• Soft grants to industries existing for at least 5 years, to adopt new/ improved technology and production methods. Also, loans on liberal terms for proposals aimed at better productivity , reduced production costs, pollution control etc.

NRI ENTICERS

To ensure clearance of loans on a priority basis, GSFC gives special attention to proposals put up by Non Resident Indians. It encourages NRI investment in schemes involving technology upgradation & transfer, collaborations, specialised & innovative projects and emerging technologies such as Bio- tech.

During 41 years of operations, the Corporation has sanctioned gross cumulative assistance of Rs. 36. 41 billion for promotion and development of 46,090 units in the medium and small scale sector. Aggregate loans disbursed to date amount to Rs.26.47 billion since inception.

Continuing with the objective of becoming a “One-Stop-Financial Supermarket,” GSFC also has schemes to assist enterprises under the Hotel Tourism related activities and those promoted by NRIs (Non Resident Indians).

In order to provide more efficient service to clients, the organisation functions from nine regional offices spread across the state. The maximum ceiling for loans sanctioned from regional offices is Rs. 1.5 million.

After over four decades of promoting rapid industrialisation through financial assistance, GSFC is now poised to take a quantum leap into the new millennium. With its niche market, comprising a client base of over 46,000, a wide spectrum of financial products tailored to clients’ needs, a well-defined administrative infrastructure and a wide network, it is all set to usher in a new, profitable era.

Type of Loan

GSFC can provide financial assistance up to Rs. 24 million on public or private limited companies or registered industrial co-op. Societies and up to Rs. 9 million to proprietary/ partnership concerns.

Eligibility

Corporation provides financial assistance to industrial concerns having SSI registration, Industrial Licence, Letter of Intent or DGTD Registration. The paid up capital and reserves of the industrial concern seeking assistance should not exceed Rs. 200 million and the cost of plant & machinery not beyond Rs. 10 million. There are certain industries which are not encouraged in view of prevailing policy of Central/State Government/IDBI/SIDBI and Corporation for which Corporation is not giving finance. You may obtain details for the eligibility of loan from the corporation before starting such type of industries.

Hospitality Movers

Scheme For Hotels & Tourism-related Activities
Apart from loans up to Rs. 24 million to set up ‘Star’ or Non-Star hotels, GSFC also considers finance for amusement parks, cultural centres restaurants, travel & transport and other tourism related services.

Heritage Hotel Scheme
In order to enhance tourism activity by converting old princely palaces into hotel easier interest rate loan assistance is available to those palaces registered by director of tourism of the state government as heritage hotels. They are also provided soft loan @ 8% for amount not exceeding Rs. 2 million.

Entrepreneur Motivators

SSI Products' Marketing Assistance Scheme
Term Loan is available to small scale, cottage and rural industrial units to help them undertake effective marketing as well as to purchase fixed assets.

Scheme for SC/ST Entrepreneurs
Term loan upto the amount of Rs.5 Lakhs @ 14 % rate of interest is available to entrepreneurs belonging scheduled castes / scheduled tribes so that they can establish their own small-scale industrial units quickly and easily.

National Equity Fund
GSFC provides loan up to maximum of 25% project cost within a ceiling of Rs. 1 million per project. New projects in the SSI sector are also eligible for soft term equity support for project cost up to Rs. 5 million. GSFC provides loan as also NEF component (Soft loan) @ 5% (with a ceiling of Rs. 1 million) with project cost up to Rs. 5 million.

Self-employment scheme for ex-servicemen
Ex- servicemen (including widows of ex-servicemen) can avail seed capital assistance up to Rs. 2,25,000 maximum @ 1% interest, for schemes involving project costs up to Rs. 15 lakhs so that they can start their various activities as per SSI norms

Textile Technology Upgradation Fund Scheme
Loan assistance is available as per norms of the scheme to encourage SSI units for technology upgradation and
modernisation of their production facilities. This benefit also includes 5% interest subsidy as per norms.

Pollution Control Assistance Scheme
Existing SSI chemical production units can get loan assistance of Rs. 5 lakhs and above to set up independent effluent treatment plant or to pay contribution to common effluent treatment plant, subject to certain eligibility norms.

For further information please contact :

Regional Offices	Field Offices
Ahmedabad Regional Office : Regional Setup : Ahmedabad, Mehsana, Gandhinagar, Banaskantha,Baroda,Panchamhal Regional Manager : Shri N. S. Bhatia - REGIONAL MANAGER  Address : Block No. 10, First Floor, Udhyog Bhavan Sector - 11, GH- 4, Gandhinagar - 382017  Contact Person : Shri N.S. Bhatia  Phone : 079-23256761, 079-23252222, 079-23252223  Fax : (079) 23252204, (079) 23252205  Mail : gsfcaro@yahoo.co.in	Rajkot Regional Office :  Regional Setup : Rajkot, Junagadh, Jamnagar, Kutch-Bhuj, Bhavnagar, Surendranagar, Amreli  Regional Manager : Shri R K PATEL - REGIONAL MANAGER  Address : Race Course, Ring Road, Nr. Kurkush Hotel Rajkot- 360 001.  Contact Person : Shri V H VASAVA  Phone : (0281) 2443664, 2442715  Fax : (0281) 2479292  Mail : gsfcrro@gujarat.gov.in
Surat Regional Office : Regional Setup : Surat, Valsad, Dang, Dadranagar Haveli  Regional Manager : Shri M R Malpani - REGIONAL MANAGER  Address : MIRAMBIKA COMPLEX, SECOND FLOOR, OPP. GANDHI BAUG, SURAT-395 001.  Contact Person : R P CHAUDHARI  Phone : (0261) 2460546, 2460547  Fax : (0261) 2460543  Mail : gsfcsro9@gmail.com	Mumbai Field Office : Officer Incharge :  Regional Setup : Baroda, Surat, Valsad, Dang, Dadranagar Haveli  C/o GIDC, Groud Floor, Shah house, Opp. Khar Police station, 142, S.V.Road, Khar (W), Mumbai - 400 052  Phone : (022)- 26054736 * Fax : (022)- 26045593  Mail : gsfcsro@gujarat.gov.in

GUJARAT STATE FINANCIAL CORPORATION (GSFC)
Udyog Bhavan (1st Floor, Block 10), SECTOR 11,
GH-4, Gandhinagar-382017, Gujarat (India)
Tel. : (079)23259513,23259330,23259331 
Fax : (079) 23252204//5,23252207
E-Mail : info@gsfc.growthnet.net  Website : www.gsfc-india.com