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Saturday, 20 August 2016

Loan mela for micro and small enterprises under way in Salem - TAMIL NADU

The Tamil Nadu Industrial Investment Corporation Limited (TIIC) on Wednesday launched a one-week long special industrial loan mela to help micro, small and medium enterprises in the district.

Vice-president of Tamil Nadu Small and Tiny Industries Association (TANSTIA) K Mariappan inaugurated the event at TIIC office by lighting the kuthu vilakku, while assistant general manager of TIIC R Kishore Kumar presided over the function. Salem regional manager of TIIC, U Ramasamy, distributed loan application forms to the emerging entrepreneurs.

"The TIIC will provide financial assistance to MSME units in commercial, industrial, hospital and hospitality sectors at 3% interest subvention," said Kishore Kumar. Apart from open term loan, he said, TIIC will also sanction loans under general, equipment finance, single window and working capital schemes and term loans for manufacturing industries and rice-mills.

The loan mela will provide an easy platform to avail funds for the establishment of new hotels and also to renovate existing hotels, nursing homes, warehouse stores, community halls and commercial complexes across the state.

TIIC provides 25% subsidy to MSME players in 251 backward panchayat unions. An additional 5% subsidy subject to a limitation of Rs2 lakh is granted to women, SC/ST, physically-challenged and transgender MSME players.

"For installing pollution control equipment to provide environmental-friendly technologies, we provide 25% subsidy. For buying generators up to 320 KWA capacity, we give 25% subsidy subject to a limitation of Rs5 lakh," said a source with TIIC.

This industrial loan mela will conclude on August 24. At the fair, people can enjoy 50% discount on processing fee.

Source : TOI , 18th Aug 2016

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