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

Hotel Scheme

 

Objective The corporation considers financial assistance for setting up hotels/motels/restaurants in order to promote  tourism and creation of employment.
Eligibility

a. Proprietary / Partnership / corporate bodies are eligible.

Assistance to star and non star category is considered

Mode of Assistance The corporation considers assistance in the form of term loan and for existing hotels for purchase of machinery.
Purpose Financial assistance is considered not only for new hotels but also for expansion and renovations of existing hotels. TL is granted for the purpose of fixed assets like construction of  building, purchase of equipments etc.
Project Cost Should not exceed Rs.12.00 crore
Debt Equity Ratio

3 : 1 for loans upto Rs.10 lakh

2 : 1 for loans above Rs.10 lakh

Promoter’s Contribution As per norms
Repayment Period Maximum of 9 years including holiday period of 2 years.
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