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TIIC - A Financial Institution for the Development of Industries

TIIC is a Premier Financial Institution incorporated in 1949 as a Company under the Companies Act, to foster Industrial Development of Tamil Nadu. It provides Financial Assistance to Small Scale and Medium Scale Industrial units. TIIC also provides Financial Assistance to Professionals and Transport Vehicle Operators.

Types of Financial Assistance

TIIC offers long and medium term financial assistance in the following forms:
Term Loan.
Term Loan and Working Capital Assistance under the Single Window Scheme.
Lease Financing for Machinery / Equipments.
Hire Purchase Financing for Machinery / Equipments.
Merchant Banking & Other Financial Services
Soft Loan

Eligible Activities
Assistance is available to industrial concerns engaged in or proposing to engage in the following:
Manufacturing, processing or preservation of goods.
Mining including Development of Mines.
Generation of Electricity or any other form of energy including wind mills.
Setting up of Nursing Homes and Purchase of Electro Medical equipments by Doctors and as well as Non-medical persons.
Maintenance, repair, testing, servicing of machinery or any types of vehicles, sailing vessels, electrical and electronic equipments, etc.
Assembling, repairing or packaging of articles with the aid of machinery or power
Hotels / Motels / Restaurants
Purchase of Vehicles for materials / goods / transportation and for transport of passengers.
Facilities for fisherman for fishing and preservation of fish including cold storage
Research and Development of any process or product in relation to any of the industrial activities
Bore well Rigs / Road laying equipment / Earth Excavators
Business enterprises set up by qualified professionals in management, accountancy, medicine, architecture, engineering, etc.

Limits for Financial Assistance
The Corporation can provide term loan assistance upto Rs.300 lakhs to private or public Companies or registered Co-operative Societies. In the case of proprietary or partnership concerns, the loan limit is restricted to Rs.120 lakhs. Under leasing and hire purchase, the maximum limit of assistance is Rs.250 lakhs and the minimum is Rs.5.00 lakhs.

Jurisdiction
The Corporation can provide financial assistance for setting up industrial concerns any where in the State of Tamil Nadu.

Various Schemes Available To Meet Your Aspiration

General Scheme: Under the general scheme, term loan assistance is provided for small and medium scale industrial units to set up new industries and expansion / modernisation / diversification of the existing units.

Nursing Home Scheme:The Corporation provides assistance for construction of nursing homes, and purchase of electromedical equipments, in all areas including metropolitan / Corporation areas with a minimum bed strength of 10 nos. Non medical persons are also eligible for assistance under this scheme.

Transport Operator Scheme:The Corporation provides loans for purchase of Transport vehicles viz. delivery vans, lorries, trailers, tempos etc., to operate as Commercial Goods Carrier and the purchase of autos, tourist taxis, pickup vans and passenger buses (having route permits) to be operated as Public Carriers.

Generator Scheme:Assistance is given for installation of power generating units for captive power consumption of the individual units.

Equipment Refinance Scheme (E.R.S.):Well established industrial units with good working results and high reputation and is in urgent need of funds for the purchase of equipments / machinery (indigenous or imported), term loans can be considered expeditiously under this scheme.

Hotel Scheme:Financial assistance is considered for setting up of hotels / motels / restaurants in order to promote tourism and also for expansion and renovation of the existing hotels.

Single Window Scheme:All eligible small scale units including tiny units, whose project outlay is within Rs.100.00 lakhs would be eligible for both term loan and working capital assistance under the scheme.

Ex-Servicemen (SEMFEX) Scheme:A Special scheme is being operated in collaboration with SIDBI and Ex-Servicemen Board for ex-serviceman. The total cost of the project under the scheme shall not exceed Rs.15.00 lakhs.

Mahila Udhayam Nidhi Scheme:Women Entrepreneurs can avail assistance to set up new projects if the project cost does not exceed Rs.10.00 lakhs.

Refinance Scheme for Technology Development and Modernisation (RTDM):Existing profit making Small Scale units which go in for modernisation/technology upgradation can avail assistance under this scheme. The project outlay shall not exceed Rs.50.00 lakhs. Concessional rate of interest and lower promoter's contribution of 20% are the other features of the scheme.

Technology Development Fund Scheme:Government of Tamilnadu has constituted a fund for Technological Development and Modernisation of small scale industries. The scheme is being operated by TIIC. The maximum loan limit is Rs.5.00 lakhs. Assistance could be availed for development of new products, technology input/upgradation which should result in significant benefit to Industry/economy/quality and better capacity utilisation reduction in production cost. There should be benefit like export development or import substituion technology adoption or meet the needs of vital sectors like Defence, Space, Research etc.

Refinance Scheme of Assistance for Acquisition of ISO 9000 Series & Certification by SSI units (RISO 9000):Existing profit making SSI units who are exporting and propose to export its products can avail assistance for the acquisition of ISO 9000 series certification under the Scheme. Lower rate of interest and lower promoter's contribution of 15% are the other features of the scheme. Subsidy to the extent of 75% of the cost of acquisition subject to a maximum of Rs.75,000/- can be availed from Government of India.

TAHDCO Scheme:The Tamilnadu Adhi Dravidar Housing Development Corporation (TAHDCO) provides subsidy and margin money assistance to SC/ST entrepreneurs for setting up SSI units and purchase of Transport vehicles. Such entrepreneurs can avail financial assistance from the Corporation.

Soft Loan:TIIC also provide soft loan assistance to eligible first generation entrepreneurs who lack adequate financial resources. Soft loan is utilised to bridge the gap of minimum Promoters Contribution prescribed by the Corporation.

National Equity Fund:TIIC is the implementing agency for the national equity fund scheme. Tiny units whose project cost does not exceed Rs.10.00 lakhs and coming up in rural area can avail assistance under the scheme. Promoters contribution will be 10% of the project cost. Soft loan to the extent 25% is available.

Hire Purchase Scheme & Lease Financing Scheme:Existing and financially viable SSI/MSI units with good proven track record can avail H.P. assistance for purchase of machinery equipments and route buses.

Warehouse / Storage Godown:To provide Warehouse/Storage facility predominantly for storing goods manufactured by SSI units thereby providing a necessary infrastructural facility to this sector.

Marketing Assistance Scheme: To provide support to SSI sector in Marketing their products .

Computer Training Institute:To set up Computer Training Institute as information technology industry is a fast developing and vital sector with good scope.

Marriage Hall / Community Hall / Conventional Centres:To provide financial assistance for construction of Marriage Halls / Conventional Centres / Community Halls, as a business development measure.

Commerical Complex:The scheme of assistance is considered as a measure of growth of SSI Service Units, Market outlet for SSI products and for small business.

Bill Discounting / Factoring:Factoring services scheme introduced to solve the working capital problems of SSI units, by discounting the Bills raised by SSI units on suppliers.

Scheme for Qualified Professionals:The scheme is intended for professionals to set up for first time their professional practice / consultacy ventures. For purchase land, building, furniture, fixtures and equipments related to profession. Assistance for acquiring additional equipment for their practice for existing professional firms will also be considered.

Refinance Scheme for Textile Industries under Technology Upgradation Fund (RTUF):Government of India has launched Technology Upgradation Fund Scheme (TUFs) for Textile and Jute Industries for a period of 5 years with effect from 1st April 1999. SIDBI is the Nodal Agency for Small Scale units in the Textile industry and Cotton, Ginning and Pressing sectors

Guidelines to avail the Financial Assistance
Registration of Application Form
Information to be furnished with Application
Appraisal of the Project
Security Documents
Terms & Conditions of Sanction
Disbursement Guidelines

Application Forms & Registration

Application form:The entrepreneurs shall apply in the prescribed application form / format which can be downloaded from the website or obtained on payment of the amount from Head Office or Branch Offices of the Corporation together with the particulars required for the processing of the Application.

Where to lodge / deposit the Application form: For loans upto Rs.30.00 lakhs, applications are to be submitted at the concerned Branch Offices. For loans above Rs.30.00 lakhs, the applications are to be submitted at Head Office.

Investigation Fees: At the time of submission of application form, a non refundable investigation fees which is based on the amount of loan applied has to be remitted to TIIC

For additional details please contact  www.tiic.org

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