TIIC targets first generation entrepreneurs in loan mela

The Tamil Nadu Industrial Investment Corporation will focus on the first generation entrepreneurs while sanctioning loans under the micro, small and medium enterprises, said G. Srinivasan, its Deputy General Manager.

Speaking at a loan mela at the TIIC here on Monday, he said the competitive rate of interest fixed by the TIIC had been encouraging the entrepreneurs. The TIIC extended assistance for expansion or modernisation or diversification of existing trade and industries across the State. It had planned to cover at least 40 per cent of entrepreneurs under the first generation entrepreneurs. He said priority would be attached to fishing net manufacturing industries for which there was a good scope and prospects in this part of the State.

Mr. Srinivasan said it had been planned to sanction loans of Rs. 78 crore in Thanjavur district during the current financial year for setting up about 1,100 units. During the current loan mela, there was a good response and 25 entrepreneurs submitted their projects. Of them, after thorough scrutiny and ascertaining viability, the TIIC had approved five projects for a loan of Rs. 8 crore.

D. Santhanam, Junior Officer, TIIC, said the industries pertained to starting of holiday resorts, colour laboratories, milk chilling plant, and modern rice mills.

V. Mathialagan, Regional Manager, said special loan melas were being organised at different parts of the State from June 15 to 26 to motivate the young entrepreneurs.

[“source – thehindu.com”]