The Tamilnadu Industrial Investment Corporation Ltd
(A Government Of Tamil Nadu Undertaking)
Funding Success...

 BILL FINANCE SCHEME FOR TNEB CONTRACTORS


                                               TNEB
Objective For discounting the Bills of  TNEB as per purchase order/ Turnkey projects. 
Eligibility Registered Contractors/ Units of TNEB
Sanction Limit 50% of value of order given by TNEB.
Drawal Limit 85% of individual bill amount only or as per the scheme whichever is lower.
Credit Period Maximum credit period of 120 days for each bill.
Security

a) The loan will be secured by post dated cheques given by the unit.  The amount of post dated     cheques will be the amount disbursed for each bill together with interest from the date of           disbursement to the date of post dated cheque i.e.120 days from the date of disbursement.

b) The loan will be secured by the personal guarantee of proprietor/ partner/directors of the            unit.

c) In case of Limited Companies, necessary charge has to be created with ROC.

Collateral NIL
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