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TIIC Funding Scheme for Micro, Small and Medium Enterprises

TAMILNADU INDUSTRIAL INVESTMENT CORPORATION (TIIC) initiated a scheme in order to provide financial assistance to New / Existing Units in Micro, Small and Medium Enterprises with overall project cost of ₹.50.00 lakhs.

Eligibility:

  • Except for Small Road Transport Operators, all new enterprises in micro ,small and Medium scale falling under manufacture, preservation or processing of goods irrespective of location and service sector projects like Hospitals, Fast Food restaurant etc.
  • Existing Micro and Small Scale Industrial Units and Service Enterprises, undertaking Expansion, Modernization, Technology Up gradation and Diversification irrespective of locations.
  • Project Cost shall not exceed Rs.50.00 lakhs
  • Owner contribution will be 20% of the project cost (fixed).

Loan Amount

  • New Units:- Term loan 80% of Project cost (up to maximum amount of ₹.40.00 lakhs)
  • Existing units: – Term loan of 75% of Project cost (up to maximum amount of ₹.37.50 lakhs)
  • For more details on Rate of Interest click here

Repayment Period:

The loan repayment period shall not exceed 6 years including moratorium of 6 – 24 months.

*** Note:- Government of Tamil Nadu supports MSMES by providing 3% interest subvention on TIIC loans sanctioned with effect from 03.09.2012

 

For more details please click here

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