Objective

To extend financial assistance to deserving Standard clients of the Corporation for meeting certain emergent and business related expenses.

Purpose &

Type of assistance

Expenses such  as adding/ replacement  of  machinery, purchase of balancing capital equipment, renovation / additions to factory building, jigs / fixtures, computer hardware / software, Working Capital margin needs, marketing related expenses, setting up franchise, brand building,  execution of bulk orders expenses, deposits for contracts, temporary shortage of Working Capital.
► The expenditure incurred up to six months before issue of sanction letter by TIIC could also be considered.

► The purpose shall exclude expenditure for speculative purposes like investing in stock markets, commodity trading, commercial real estate activity etc.

Eligibility

► Unit’s constitution:  any form viz. Proprietary, Partnership and Limited Company / LLP.

► The applicants should have been in active operation for the last three years at the time of approaching TIIC.

► They should have earned net profits in the last three financial years and should have positive networth and no cumulative losses.

► MSME and Large Enterprises assisted by the Corporation and are in
(i) Standard Assets category continuously for the last three Financial Years.

(ii) The unit should have a repayment track record of atleast 12 principal installments (successive) to the Corporation besides the interest installments.

Quantum of loan

Minimum – Rs.5.00 Lakhs

Maximum – Rs.200.00 Lakhs

► Financial assistance under PCS shall be arrived at 75% of the principal repaid to the Corporation so far towards existing loans.

► Term loan under General, EFS, EFS-FT, III Scheme, Corporate loan, Flexi WCTL, Adhoc WCTL, OTL and earlier PCS shall be taken for arriving the eligibility.

Promoters contribution

Nil

Debt Equity Ratio

2.50:1.00

Repayment period

60 monthly installments including a moratorium period of 6 months

Collateral Security

100% of the loan amount