Objective

To extend financial assistance to New units as well as Existing running units (assisted and non-assisted by TIIC)  in Manufacturing & Service sectors for purchase of plots from SIDCO/SIPCOT

Purpose

For Purchase of SIDCO/SIPCOT plots/sheds on outright sale/ long term lease respectively, directly allotted by SIDCO/SIPCOT

Eligibility

i.      New as well as existing units

ii.    CMR is not applicable for new units. CMR should be 6 and below for the applicant (existing units) and Associate units, if any.

iii.  CIBIL score of Promoters should be 600 and above.

(If it is -1, the same shall be accepted).

Constitution

Proprietary, Partnership & Private Limited Companies are eligible.

Quantum of loan

100% cost of SIDCO/SIPCOT Plot/sheds as Interim loan.

Promoter’s Contribution

 25% of the plot cost  by way of  Margin Money Advance amount 

Primary security

First charge on the SIDCO/SIPCOT property

Collateral Security

Nil for new units.

If it is an existing assisted unit, the charge on the existing primary & collateral security shall be extended for the proposed loan.

Validity of sanction

The loan shall be disbursed directly to SIDCO/SIPCOT within the period stipulated by them for payment of land cost.