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

Working Capital Term Loan Scheme (WCTL)

 

Purpose To extend financial assistance to Manufacturing & Processing sector including Rice Mill units to meet their working capital/additional working capital requirements.
Eligibility

The unit(s)

a. should be in existence and in operation for the past 2 financial years.

b. should have earned cash profit for the last 2 years.

c. should have positive networth

d. assisted by the corporation shall be in standard assets category for the last 2 financial years.

e. having loan with other Banks/FIs should be in standard category with respective institutions for the last 2 financial years.

f. should not come under the purview of sick unit definition.

Quantum of Loan Maximum : Rs.200.00 Lakh per unit.
Promoter’s Contribution Minimum : 25% of the working capital assessed.
Collateral Security

Assisted units of TIIC Without any Bank Finance                    :100%

Non Assisted units of TIIC Without Bank Finance                    :125%

Assisted and Non Assisted units of TIIC With Bank Finance   :150%

Repayment 42 months including a moratorium of 6 months (for first time assistance only).  For subsequent assistance moratorium period shall not be given.
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