Youth can apply for loans to start own business
Posted on: 15/Jun/2017 4:17:25 PM
The Chennai District Collector V. Anbuselvan has announced that the educated youth in Chennai district, interested in starting their own business, can apply for loans.
The youth in Tamil Nadu, who have completed ITI certificate courses or graduation, or even higher studies and interested in starting their own business can apply for loans under the new state government scheme called NEEDS - The New Entrepreneur-cum-Enterprises Development scheme.
A committee headed by the district collector will scutinise the applications and select candidates who would be trained for a month and a 25% of the total estimated cost for starting the business (up to a maximum of Rs. 25 Lakhs) will be given as capital investment subsidy and 5% interest subsidy will be arranged through the Commercial Banks, TAICO - Tamil Nadu Industrial Investment Corporation.
For starting a manufacturing concern or service-oriented concern, loans from a minimum of Rs. 5 Lakhs to a maximum of Rs. 1 Crore will be offered as a loan.
Further details of this scheme can be obtained from the Office of the Joint Director, Guindy Thiru Vi Ka Estate, Chennai either by visiting in person or by contacting over the telephone – 044 22501620, 21, or 22.
Application for loans can be made online: www.msmeonline.tn.gov.in
