The district administration is organising a month-long special loan mela through Tamil Nadu Industries Investment Corporation (TIIC) from June 1 onwards to invigorate existing micro, small and medium enterprises and start new ventures as well.

According to District Collector R. Sukumar, the 77-year-old TIIC finances through the banks for establishing new MSMEs and for expansion of existing units for capacity addition and diversification.

Since the TIIC has proposed to organise month-long special loan disbursal camp from June 1, entrepreneurs and those who intend to start their manufacturing units may visit TIIC at 5C / 5B, Second Floor, Shakuntala Shopping Complex, Thiruvananthapuram High Road, Vannarpet, Tirunelveli, to submit their project proposals, get allied information and clarify their doubts.

The visitors will be explained the financial assistances being extended by the Central and the State Governments carrying investment subsidy up to ₹ 1.50 crore, about NEEDS (New Entrepreneur-cum-Enterprises Development Scheme) etc. Apart from the investment subsidy of ₹1.50 crore, the 3% interest subsidy will also be given under the NEEDS and 5% interest subsidy will be given for modernisation of existing units.

Under the Annal Ambedkar Business Champions Scheme, investment subsidy of 35% will be given and the beneficiaries of this scheme is also eligible for another 6% interest subsidy. Moreover, the applications being submitted during this special loan mela will be given 100% waiver of inspection fee.

For more information, the aspirants may contact 0462 – 2502038, 94443 96830, 94443 96881, 94450 23459, Dr. Sukumar said.