Coimbatore

Entrepreneurs submit loan applications for ₹15 crore in Erode

District Collector H. Krishnanunni distributing a loan application to an entrepreneur during the special business boost campaign for MSMEs in Erode on Wednesday.  

Applications seeking various loans to the tune of ₹15 crore were received from entrepreneurs during the inauguration of the special business boost campaign for Micro, Small and Medium Enterprises (MSMEs) here on Wednesday.

The campaign was organised by Tamil Nadu Industrial Investment Corporation (TIIC). Collector H. Krishnanunni inaugurated the campaign by distributing and receiving loan applications from entrepreneurs at a function held at SIDCO Industrial Estate on Chennimalai Road. The Collector said the campaign would be held in TIIC’s branch office at Periyar Nagar till December 15 and entrepreneurs and MSMEs could submit applications seeking various loans. Loans would be provided under various special schemes to set up new factories or expand existing units and for diversification.

The campaign would focus on subsidies provided by both the Central and State governments, grants and also focus on the New Entrepreneurship and Enterprise Development Scheme (NEEDS). He said term loan applications submitted during the campaign would be given a 50% discount on the investigation fees, while applications submitted under NEEDS scheme by the first generation entrepreneurs would be exempted from processing fees.

The campaign will be held at the Erode Branch Office at C.S. Sengottiah Complex, Second Floor, 23, Chidambaram Colony, 80 Feet Road, Periyar Nagar, Erode – 638 001.


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Printable version | Jan 26, 2022 10:48:18 AM | https://www.thehindu.com/news/cities/Coimbatore/entrepreneurs-submit-loan-applications-for-15-crore-in-erode/article37904926.ece

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