EDC broadens professional loan eligibility for diverse fields

To support qualified professionals, the Economic Development Corporation (EDC) has decided to broaden the eligibility criteria for professional loans. This expansion encompasses MBA, MCA, and holders of various other degrees, allowing them to avail loans under the scheme. The decision, ratified during the EDC board meeting on Wednesday, chaired by Chief Minister Pramod Sawant, reflects the commitment to facilitating financial assistance. The existing scheme has been instrumental in providing support for acquiring premises, machinery, furniture, and fixtures essential for establishing new professional practices or consultancy ventures. Presently, the scheme covers a range of professionals, including Registered Medical Practitioners, Doctors in Homeopathy, Ayurvedic, Veterinary, Dentists, Physiotherapists, Pharmacists, IT professionals, Chartered Accountants, Company Secretaries, Advocates, Consulting Engineers, Chartered Engineers/Registered Valuers, Architects, Cost Accountants, etc. These professionals have the option to avail loans either individually, jointly, or through partnership concerns, LLPs, or companies.

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