Flexi Working Capital Term Loan Scheme
A programme by The Tamilnadu Industrial Investment Corporation Ltd (TIIC)
A working capital term loan for new units, cash-profit units, job work units and some service businesses in Tamil Nadu.
At a glance
| Best for | New units, cash-profit manufacturers and job work units that need working capital |
|---|---|
| Duration | 7 years for the term loan component of a new unit, with up to 1 year holiday |
About Flexi Working Capital Term Loan Scheme
The Flexi Working Capital Term Loan lets eligible units build inventory, meet payments to creditors and debtors, and cover extra working capital needs. For new units, a term loan finances fixed assets and the working capital term loan sits alongside it.
What you get
- A working capital term loan within minimum and maximum limits set by TIIC, with lower caps for job work and service sector units
- An option to repay after one year without any principal repayment during that year, or to repay in 30 instalments
- Renewal after one year, based on a reappraisal of the unit
Who can apply
- New units that have no working capital facility from a bank or financial institution
- Existing manufacturing or job work units with cash profit for the last two financial years and a positive networth
- Qualified professionals in management, accountancy, medicine, architecture, software and engineering
- Hospitals, hotels, restaurants, MSME product marketing and cold storage businesses in existence for 3 years with cash profit
How selection works: TIIC appraises the unit and sets the loan against its assessed working capital. Third party collateral from close family is accepted under the scheme's conditions.
How to apply: Use TIIC's loan enquiry or online application.
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.
- 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.
- Bill Finance Scheme for Public Utility ContractorsShort-term finance on each bill for MSME contractors and suppliers to Tamil Nadu public utilities.
- 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)