TIIC designs to help entrepreneurs who come forward to set up fishing net manufacturing units in the region. Therefore, General Scheme For New & Existing Entrepreneurs Tamilnadu aims to provide all small, medium, large-scale companies to get full financial assistance. Also, the Service sector units are part of a new project or to develop, improve, or expand the current project. Therefore, the main motive is to help all the entrepreneurs who are new and who already exist as well.
What is the Purpose of the General Scheme for New & Existing Entrepreneurs in Tamilnadu by TIIC?
- Firstly, consider it for purchasing the land.
- Secondly, for the construction of the building, buying, and erection of machinery
Eligibility Criteria for General Scheme For New & Existing Entrepreneurs in Tamilnadu?
- All MSME units
- Small Scale industries
- Medium-scale industries
- Large scale industries
- Service Sector Units
- Non-MSME units
- All the Proprietary firms, Partnership firms, Private Limited Companies, Public Limited companies and also the Limited Liability Partnership firms
Benefits of General scheme:
Firstly, you get an advantage in the Contribution to Promoters. That is set for all consumers. to clarify, that’s 35 per cent for new units and 25 per cent for current companies.
Secondly, in Deby equity, share you get Loan up to Rs.10 Lakh equals to DER 3:1. Also, Loan more than Rs.10 Lakh equals to DER 2:1 . Additionally, in the repayment period is about nine years. Also, that includes the initial moratorium of 2 years. As well as the collateral security is 50% of the loan amount and 100% loan amount is highly movable assets. So, all these are the basic benefits you get under the General Scheme For New & Existing Entrepreneurs of Tamilnadu.
Documents needed for this scheme
- KYC documents
- Proof of ID: Aadhar card, PAN card, Passport, voter ID
- Proof of residential address
- Business address proof
- Projected balance sheet or Project report
- Business registration Proof: – Partnership title / Certified copies of MOA / AOA
- Bank statement 6 months ago