TIIC Announces Special Loan Camp For MSMEs In Tamil Nadu

Chennai, Aug 21 (KNN) The Tamil Nadu Industry Investment Corporation (TIIC) has launched a special loan camp for Micro, Small and Medium Enterprises (MSMEs), scheduled to run until September 6. This initiative aims to support new ventures, expansion of existing units, and diversification efforts.

According to District Collector T. Christuraj, interested applicants can visit the TIIC Office located near the Fire Station on Avinashi Road in Tiruppur to explore these business loan opportunities.

The office will provide detailed information on various schemes and grants available from both Central and State Governments.

Of particular note is the New Entrepreneurship-cum-Enterprise Development Scheme (NEEDS), which targets first-generation graduates. The loan camp will offer guidance on this program and other relevant initiatives.

The loan schemes include several attractive features for MSMEs. Applicants can benefit from a subsidy of 25 per cent on investment, with a maximum ceiling of Rs 1.5 crore.

Units seeking to expand their capacities through the purchase of modern machinery are eligible for an additional 5 per cent subsidy. Furthermore, TIIC is offering a 50 per cent concession on application processing fees.

This loan camp represents a significant opportunity for MSMEs in the region to access financial support and expert guidance for their business endeavours.

Interested parties are encouraged to contact the TIIC Office for more information on eligibility criteria and application procedures.

(KNN Bureau)