a.   Proto Loan Scheme
To support Startups to evolve ventures.
b.  Propel Loan Scheme
Financial Assistance for
1)  Capital Expenditure towards
a)    Construction of facility for production upto 25% of the project cost.
b)   Office equipments like computers/printer/router not exceeding 10% of project cost.
c)    Tools/equipments/testing equipments/ electrical.
d)   Purchase of required Software/Hardware suitable to the activity chosen

2) Expenses for registration/purchase of patent/license etc., upto a maximum of 1.00 lakh.

3) Research and Development expenses not exceeding 15% of the project cost.

4) Pre-operative expenditures

Land should be either owned or leased premises. No funding for land will be considered.

a)  The Startup should be headquartered/have regd. office in Tamil Nadu.

b)  The Startups shall be registered with any renowned Startup incubators

c)  The startup should be registered with StartupTN (TANSIM)

d)  The Startups should be recommended by renowned startup incubators in the State

e)  The promoters should be a graduate in any field of engineering/ science with minimum 3 years of work experience.

f)   The CIBIL score of the promoters should be 650 and above. (For promoters with CIBIL Score of -1 and such, where credit history is not available, the loan proposal can be considered on the merits of the recommendation made by Incubator and the existing bank account statement analysis of the promoter).

i) Proto Loan Scheme :

The Startup should not have availed any previous assistance under this scheme / from other Banks/Financial Institutions for the same project.

Startup must have a business idea to develop a product or a service with potential for viable commercialization, and scope of scaling and should have been established not more than 2 years at the time of application.

 ii) Propel Loan Scheme :

The Startup should not have availed any previous assistance under this scheme / from other Banks/Financial Institutions for the same project (except funding from TIIC for ideation stage / Proto Loan scheme).

Startups who have successfully completed ideation stage under Proto Loan Scheme of TIIC or Startups who have successfully demonstrated proof of concept with the support of other Government Institutions/ Agencies/Renowned Incubation Centres and who desires to take innovation to market by becoming an entrepreneur.

a.  Proto Loan Scheme:

Maximum of Rs.10.00 lakhs

b.  Propel Loan Scheme :

Maximum of Rs.1 crore

Working capital up to 25% of Rs.1.00 crore may be considered subject to providing 100% collateral security.

a.  Proto Loan Scheme:

10% of the financial assistance provided. (To be kept as a Security deposit with TIIC)

b.  Propel Loan Scheme :

Minimum 15% of the project cost

a.  Proto Loan Scheme:

5 years with a moratorium of 2 years

b.  Propel Loan Scheme:

Maximum 5 years including 1 year holiday period

a.  Proto Loan Scheme:

Unsecured loan covered under CGTMSE credit guarantee

b.  Propel Loan Scheme

Loans Upto Rs.5O lakhs:

Loans upto Rs.5O lakh will be covered under the credit Guarantee Scheme of the CGTMSE. 

Loans above Rs.5O Lakhs and upto Rs.1 crore

35% of the       loan  amount  by way of land/land  and Building/ Security Deposits 

General

>  100% of the loan amount for working capital component shall be covered by collateral security.

>  If no other collateral property is available, agricultural lands with good path way facilities may be considered.

>  Primary Land Value within town limits if not funded by the Corporation may be considered for collateral security.

>  Personal guarantee of the Promoters / Guarantors shall be obtained.