There was an overwhelming response for a special loan mela organised by the District Industries Centre (DIC) here on Monday for the flood-affected people of Thoothukudi district.
Collector M. Ravikumar, who inaugurated the mela, appealed to the people to avail themselves of the maximum benefits from the mela. A loan target of Rs. 8 crore, with 25 per cent subsidy, was set to benefit 400 entrepreneurs of the district, said General Manager of DIC T. Mayathevar. Applicants for assistance should be in the age group of 18 to 45 years with a pass in eighth standard. The maximum loan of Rs. 5 lakh would be provided through bank for any manufacturing activity involving machinery, Rs. 3 lakh for service industry and Rs. 1 lakh for any business operation.
Most of the applicants wanted to start readymade garment manufacturing units, electrical shops, wood and steel industry, automobile units, photo studio, hotel and beauty parlours.
The applicants, who availed loans from banks in the mela, would be exempted from one-week training in entrepreneur development.
As many as 650 applications were issued at the mela. All the loan applications would be forwarded to banks, which would extend assistance to the applicants, Mr. Mayathevar said.
Project Manager of DIC A. Swarnalatha said 350 applications were issued at a similar mela organised in Srivaikuntam on Friday and 325 applications in Ottapidaram on Saturday.
