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