Organization : Industrial Investment Corporation Ltd
Service Name : Doctor Plus Scheme
Applicable State: Tamil Nadu
Applicable For : Partnership / Corporate
Website : http://www.tiic.in/doctors_plus.html
Doctor Plus Scheme:
Doctor Plus Scheme For Partnership / Corporate
Related : TIIC Entrepreneur Development Scheme Tamilnadu : www.statusin.in/5789.html
Eligibility:
** Loan scheme for qualified Medical Practitioners. Available for all medical streams viz. Allopathy, Dental etc.
** Partnership / Companies.
** Applicants /Promoters should have recognized qualification in any branch of medical science like MBBS/BDS of any recognized degree in Physiotherapy / Radiology etc and should have minimum practical experience required to establish Hospital / Nursing Home / Clinic.
** Company – At least 50% of the promoter / directors should be qualified and registered medical practitioners.
** Second-hand machinery / Equipments should not be financed.
Purpose:
** To set up clinics, Pathological / X-ray / Sonographic / Physiotherapy / any other.
** To purchase land for construction of Hospital Building.
** To purchase ready built premises. (Age of the premises shall not be more than 20 years).
** Diagnostic Imaging Laboratories / Purchase of Medical Equipments, Medical Software, Computer for Hospital purposes.Construction of Nursing Homes, Furnishing of Nursing Homes, Setting up of a Clinic or Lab, Renovation / Repair of existing premises etc.
** Purchase of Ambulance
Quantum of Loan :
For Term Loan:
** Minimum of Rs.25 lakhs and Maximum of Rs.1500 lakhs.
** In respect of Panchayat & Rural – Maximum of Rs.50 lakhs
** Other than above – Maximum of Rs.1500 lakhs
** If the TL is for equipment only, the Maximum quantum of loan shall be Rs.500 lakhs.
For WCTL :
Need based Working Capital requirement can be considered as sub limit not exceeding 10% of the proposed loan amount subject to a maximum of Rs. 100 Lakhs.
Investigation Fees: As applicable to Term Loan.
Rate of Interest :
For New clients : PLR + 0.75%
For Existing clients : PLR
Margin :
15% for Equipment, 25% for Building, if land and building is involved 35% margin (subject to overall DER 2 : 1).
Repayment Period :
9 years (including holiday period)
Collateral Security :
Primary: Hypothecation / Mortgage of assets purchased out of our assistance.
Collateral:
** Tangible Collateral security 25% coverage
** Personal Guarantee if he or she is an individual
** Spouse Guarantee.
About Us :
Tamilnadu Industrial Investment Corporation Ltd. [TIIC] is a premier State Financial Corporation established in the year 1949. TIIC fosters industrial development in Tamilnadu by providing financial assistance to industries for purchase of land, machinery and construction of buildings.
TIIC provides financial assistance at competitive interest rates for setting up of new industrial units and for expansion / modernisation / diversification of existing industries in Tamilnadu.
It also offers loan for service sector projects such as hotels, hospitals and tourism related projects. TIIC has so far assisted 1,19,767 units with a cumulative sanction of Rs.14,549.80 crores upto 31.03.2016.
Contact Us :
The Tamil Nadu Industrial Investment Corporation Limited,
692, Anna Salai, Nandanam, Chennai – 600035.
Tamil Nadu, India.