General Scheme for New and Existing Entrepreneurs
A programme by The Tamilnadu Industrial Investment Corporation Ltd (TIIC)
A long-term term loan for land, buildings, machinery and vehicles for new and existing manufacturing and service units.
At a glance
| Best for | New and existing manufacturing, processing and service units that need land, buildings or machinery |
|---|---|
| Duration | 6 to 9 years, depending on project cost, with a moratorium of 6 to 24 months |
About General Scheme for New and Existing Entrepreneurs
The General Scheme is TIIC's main term loan for industrial and service units. It finances the establishment, expansion, modernisation and diversification of a unit, and the purchase of vehicles. Loans can fund land outside SIDCO and SIPCOT estates, factory and commercial buildings, and machinery including second hand machinery.
What you get
- A term loan sized by the borrower's constitution and the project cost
- Repayment over 6 years for smaller projects and 9 years for larger ones, with a moratorium of 6 to 24 months
- Finance for vehicles that will be registered as public carriers in Tamil Nadu
Who can apply
- Proprietorships, partnerships and corporate bodies
- New and existing units in manufacturing, processing and service sectors
How selection works: The promoter contribution and debt equity ratio depend on the project cost and on whether the unit is new or existing. Collateral is usually land and buildings within corporation, municipal or town limits.
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.
- 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.
- 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)