The Tamil Nadu Industrial Investment Corporation Ltd. (TIIC) has inked two Memoranda of Understanding (MoUs) with the Tamil Nadu Small Industries Development Corporation Limited (TANSIDCO) and the Tamil Nadu Industrial Co-Operative Bank Ltd. (TAICO Bank).
The MoUs have been signed with an aim to undertake co-lending activities to support MSMEs.
They will also help MSMEs get access to working capital and term loans.
TIIC has introduced an ‘Industrial infrastructure initiative’ Scheme, under which financial assistance will be provided to MSMEs for the purchase of plots in SIPCOT and TANSIDCO industrial estates to set up units.
Interim loans provided under the scheme will enable MSMEs get plots early, allowing them to start commercial operations without delay.
