Tamilnadu Industrial Investment Corporation Limited, Chennai-35

1. The Scheme: The scheme is intended for professionals to set up for first time their professional practice / consultacy ventures. For purchase land, building, furniture, fixtures and equipments related to profession. Assistance for acquiring additional equipment for their practice for existing professional firms will also be considered.

2. Eligibility Criteria: Qualified professionals in the field of management (management consultancy), accountancy, medicine, architecture, Engineering. They shall possess the following minimum qualifications in their respective fields.

Assistance to a limited extent for acquiring additional equipments for their practice could also be considered for existing / established professional firms.

3. Project Cost: Need based and should not exceed Rs.20.00 lakhs. The land and building cost shall not exceed 50% of total project cost.

4. Promoter Contribution: The minimum promoter contribution shall be 35% of project cost.

5. Repayment period: Five years including an initial moratorium not exceeding one year.

6. Collateral Security: Collateral security @ 50% for equipments / machinery only. If equipments / machinery are highly mobile, 100% collateral security to be offered. If the primary security is available in the form of land and building, collateral shall be 25% of loan amount.