Meghalaya Industrial Development Corporation was set up under the Companies Act, 1956, as a wholly owned state government undertaking for promotion and development of medium and large industries. In addition to provision of financial assistance,it is also involved in developing industrial infrastructure like industrial estates, industrial parks, etc. and setting up industrial projects either on its own or in the joint sector in collaboration with private entrepreneurs or as wholly-owned subsidiaries. 
Meghalaya Industrial Development Corporation has developed industrial infrastructure facilities to enable prospective entrepreneurs to set up their industries in the state. 

The Corporation also renders technical assistance to the entrepreneurs in the formulation of the project reports and provides common facilities in the industrial estates. 

It provides loans and advances to the industrial units in the medium and large sectors to the maximum of Rs.400 lakhs. The interest rate ranges between 13.5% to 17% depending upon the size of the loan. 

The loan schemes for various purposes are: 
  •  Long Term Loan to all eligible Industrial units against acquiring fixed assets. 
  •  Long Term Loan to Transport operator. 
  •  Long Term Loan to Hotel & Restaurant operator. 
  •  Term Loan for Hospital, Nurshing home etc. 
Interest Rate Structure 
The interest rate structure for the various loan schemes are as follows: 
  •  For Loan upto Rs. 25,000.00 @ 12.5% p.a. 
  •  For Loan from Rs. 25,000.00 to 2,00,000.00 @14.5% p.a.
  •  For Loan above Rs. 2,00,000.00 @ 16.5% p.a. 
Period Of Loan

The period of loan depends on the D.S.C.R 

Maximum period of 10 (ten) years is permissible.