Andhra Bank
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Toll Free Number : 1800 425 1515

 
Technology upgradation fund scheme (TUFs) for textile & jute industries in SSI Sector.
 

A scheme devised by Govt. of India, Ministry of Textiles, to enable SSI units (Textile/Jute industrial sector) to induct State-of-the-art technology in which technology levels are bench marked in terms of specified machinery for each sector of textile industry. Machinery with technology levels lower than that specified will not be permitted for funding under the TUF scheme.

 
  Eligible Borrowers


Sole Proprietorships, Partnerships, Co-operative Societies, Private/Public limited companies.

a.

Existing units with or without expansion and new units

b.

Existing units proposing to modernize and/or expansion with state-of-the-art-technology

c.

New units which are being set up with appropriate technology

 

  Quantum Of Loan & Mode Of Assistance


Assistance shall be need based and NO CEILING on project cost/amount of loan. Assistance shall be by way of Term Loan.

 
  Margin


15 to 25% of the project cost

 
  Security


1st charge on fixed assets financed under the scheme Additional security such as personal guarantees, pledge of promoters share holdings as determined by Bank on merits of the case

 
  Incentive Available Under The Scheme


Incentive Available Under The Scheme

 
  Repayment


Within 7 years including moratorium up to 1 year

 

Conditions apply. The information provided above is only illustrative and not exhaustive. 

Contact:

For more details, please contact your nearest  Andhra Bank Branch

or E-mail to: ssi@andhrabank.co.in ; sme@andhrabank.co.in