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

Equipment Finance Scheme For Existing Clients 

 

Purpose Assistance under the scheme will be for purchase and erection of identifiable items of plant and machinery including generators for modernization/expansion/balancing/replacement. Machinery imported directly will also be eligible. Transport and erection charges, additional need based civil work, miscellaneous fixed assets and electricals related to the equipment may also be considered in the project cost.
Eligibility

Assistance will be available to existing industrial concerns having a good past record of performance and sound financial position. The concerns should:

i. Have been in operation for at least 3 years.

ii. Have earned profits and declared dividends during the preceding two financial years.

iii. Not be in default to institution/banks in the payment of their dues.

iv. Have positive networth.

Limit Rs.5.00 lakh to Rs.1000.00 lakh 
Promoter’s Contribution  15%
Debt Equity Ratio 2.00 : 1.00 (Overall)
Repayment 36 months to 60 months including Holiday period ranging from 3 months to 12 months. 
Collateral Security 25% of Loan amount
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