Bill Finance Scheme for Public Utility Contractors
A programme by The Tamilnadu Industrial Investment Corporation Ltd (TIIC)
Short-term finance on each bill for MSME contractors and suppliers to Tamil Nadu public utilities.
At a glance
| Best for | MSME contractors and suppliers to Tamil Nadu public utilities |
|---|---|
| Duration | Up to 240 days for each bill |
About Bill Finance Scheme for Public Utility Contractors
Bill Finance funds MSME vendors and contractors who work for Tamil Nadu public utilities, including TANGEDCO, TANTRANSCO, GCC, CMWSSB and TWAD. TIIC advances a share of each bill, and the credit period runs up to 240 days.
What you get
- Finance on each bill, with a drawal of up to 85% of the bill amount
- A credit period of up to 240 days for each bill
- No collateral under the scheme. Security comes from post-dated cheques and personal guarantees
Who can apply
- MSME and non-manufacturing units in Tamil Nadu registered as contractors or suppliers with the utilities above
- Proprietorships, partnerships, LLPs, limited companies and one person companies
How selection works: The sanction limit is the higher of a share of the previous year's turnover on works for these utilities, or a share of work orders on hand, capped at the amount applied for.
How to apply: Write to billfinance@tiic.org or use TIIC's loan enquiry.
Where to apply
Other The Tamilnadu Industrial Investment Corporation Ltd (TIIC) programmes
- Micro Small Enterprise Funding Scheme (Proto and Propel Loans for Startups)Term loans for Tamil Nadu startups, from the ideation stage through to market entry, for founders an incubator has recommended.
- New Entrepreneur cum Enterprise Development Scheme (NEEDS)A government subsidy with a term loan for educated first generation entrepreneurs in Tamil Nadu starting a micro or small enterprise.
- Flexi Working Capital Term Loan SchemeA working capital term loan for new units, cash-profit units, job work units and some service businesses in Tamil Nadu.
- General Scheme for New and Existing EntrepreneursA long-term term loan for land, buildings, machinery and vehicles for new and existing manufacturing and service units.
- Machinery Finance (Equipment Finance Scheme)Loans to running units that buy plant, machinery or generators for modernisation, expansion or replacement.
- Capital Subsidy for Tamil Nadu MSME Manufacturing UnitsA state capital subsidy on plant and machinery for micro units across Tamil Nadu, and for small and medium units in backward or priority areas.
- Generator SubsidyA subsidy on a new captive generator of up to 320 KVA for micro, small and medium manufacturers.
Everything about The Tamilnadu Industrial Investment Corporation Ltd (TIIC)