Greetings from SIHRA!!
We introduce ourselves as Tourism Finance Corporation of India Limited (TFCI), a specialized All-India Financial Institution, promoted by All-India Financial/Investment Institutions and nationalized banks in the year 1989 to cater to the needs of tourism industry in the country.
TFCI provides financial assistance to enterprises for setting up, expansion, modernization and renovation of tourism-related projects such as hotels, resorts, motels, spas, restaurants, food courts, multiplexes, entertainment centres, amusement parks, safari parks, rope-ways, cultural centres, convention centres, transport & tour operations, air service, tourism emporia, etc. The financial assistance by TFCI is provided at competitive terms and interest rates. Since inception, TFCI has assisted a large number of diverse tourism projects that has led to catalyzing investments to the extent of Rs.26200 crore in the Indian tourism sector and development of tourism infrastructure in the country. In the hotel sector alone, TFCI has so far contributed to the addition of 46588 rooms in the country.
TFCI also provides advisory/consultancy services in the tourism sector to Government agencies, development institutions and public/private companies investing or engaged in hospitality. TFCI’s vast knowledge of the tourism sector alongwith availability of professional manpower and excellent research infrastructure has positioned it as one of the foremost tourism consultants offering the entire gamut of tourism-related advisory services.
We are providing financial assistance for a longer period upto 15 years carrying interest at MCLR 11% p.a. +risk premium for setting up new/expansion/renovation of any project in tourism sector anywhere in India. We understand tourism projects are capital intensive and require time for stabilization of operations in terms of achieving adequate occupancy/ARR levels for enabling them to service debt obligation. As such, we provide moratorium period of 1.5-2 years after completion of the construction/development of the project.
We are capable of refinancing of the outstanding term loans of existing/under-implementation hotels/resorts coupled with additional assistance towards last mile funding and adequate moratorium for repayment of term loans.
We take this opportunity to request you to consider TFCI as a consortium partner for financing of your existing and upcoming tourism projects and also for advisory/consultancy services in the tourism sector.
You are requested to circulate the above facilities being made available by TFCI amongst your members for availing the facilities.
AGM/EA to MD