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Bureau for Facilitating MSMEs of Tamil Nadu (FaMe TN)
(A Section 8 company under MSME Department, Government of Tamil Nadu)
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Loan for Purchase of Equipment for Enterprise's Development (SPEED)
Government of India, Ministry of MSME
Small Industries Development Bank of India

Loan for Purchase of Equipment for Enterprise's Development (SPEED)

If you’re a business that has been operating for at least 3 years, you can get a loan to buy machinery

Objective
  • To provide grants for purchase of machinery upto 100% of machinery cost for new and existing clients.
Key Benefits
  • Assistance for purchase of plant & machinery and miscellaneous fixed assets.
  • 100% financing for loans upto Rs. 15 crore with security of 25% in form of fixed deposit.
  • Financing upto Rs. 15 crore subject to maximum of 75% of the project cost under promoter contribution model.
  • Financing for second hand/ refurbished machines also allowed subject to compliance of standard guidelines.
  • MCLR Linked attractive rate of Interest.
  • Repayment upto 84 months with moratorium upto 12 months.
Eligibility Criteria
  • MSMEs having minimum 3 years of operation.
  • Cash profit in last 3 financial years.
  • No defaults to Bank/FIs.
How to Apply / Office To Contact
How to Apply / Office To Contact

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