Section 8 Microfinance company Registration Service

Section 8 Microfinance company Registration Service

A section 8 company which earlier was known as section 25 company is a legal form for non profit organizations (NPO) or Non Governmental organizations (NGO). A company status is always highly recognized in compare to trust or society, therefore Section 8 Companies have higher credibility among st Government departments, Donors and other stakeholder.

Main features of section “8” Company

  • Charitable Objects: A section 8 Company has in its objects the promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other charitable objects.
  • Profit for Promotion of objects: Section 8 company will apply its profits (if any) in promoting its objects.
  • No Dividends: Section 8 Companies are prohibited to declare and/or pay any dividend to its members.

Loan Limits For MFIs

  • Borrower with a rural household annual income not exceeding Rs. 1,00,000 or urban and semi-urban household income not exceeding Rs. 1,60,000 will be eligible ;
  • Loan amount will not exceed Rs. 60,000 in the first cycle and Rs. 1,00,000 in subsequent cycles;
  • Total indebtedness of the borrower will not exceed Rs. 1,00,000
  • Tenure of the loan not to be less than 24 months for loan amount in excess of Rs. 30,000 with prepayment without penalty;
  • Loan to be extended without collateral

Micro Finance Section 8 Company Package

  • 45,000
  • 3 DSC
  • 3 DIN
  • Company Name Reservation
  • MOA and AOA Drafting
  • PAN & TAN
  • Filing Documentation
  • Incorporation Certificates
  • Corporate Identification Number (CIN)
  • Certification Fees
  • Government Fees
  • Logo Designing
  • Letter Head Designing

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