MEGHALAYA
INDUSTRIAL DEVELOPMENT CORPORATION (MIDC)
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.
FINANCIAL
SCHEMES
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.
