tiic.in Doctor Plus Scheme For Partnership/ Corporate : Tamilnadu Industrial Investment Corporation Ltd
Name of the Organization : Tamilnadu Industrial Investment Corporation Ltd
Name of the Scheme : Doctor Plus Scheme For Partnership/ Corporate
Location: Tamilnadu
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Official Website : http://www.tiic.in/doctors_plus.html
Doctor Plus Scheme:
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 :
Click here for Rate of Interest
For New clients :
PLR + 0.75%
For Existing clients : PLR
Margin :
15% for Equipments, 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.