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Special loan mela for MSMEs in Erode

The Tamil Nadu Industrial Investment Corporation Limited (TIIC) is conducting a special loan mela for micro, small and medium enterprises (MSMEs) at its branch office at Periyar Nagar till August 27.

A release from District Collector H. Krishnanunni said that currently a special loan mela is being organised at its branch office at C.S. Sengotiah Complex, Second Floor, 23, Chidambaram Colony, 80 Feet Road, Periyar Nagar, Erode, till August 27.

During the mela, detailed presentations on various schemes of the TIIC for capital investment subsidy and interest subvention subsidy, schemes of Central and State governments, subsidy and details of new entrepreneur-cum-enterprise development Scheme (NEEDS) scheme, are made. Loan applications submitted during the mela would be given 50% discount on investigation fee while applications under the NEEDS would be given 100% exemption from the fee, the release added.

Hence, existing and new entrepreneurs are encouraged to take advantage of the opportunity and approach with business plans to avail loan and investment subsidies.