The Tamil Nadu Industrial Investment Corporation (TIIC)
has fixed a target of Rs. 36 crore to be distributed as industrial loan
in the district during the current financial year as against its last
year disposal of Rs. 31 crore, said Collector C.N. Maheshwaran here on
Wednesday.
Inaugurating a special loan mela organised
by the TIIC in Hosur, Mr. Maheshwaran said that the TIIC was
established with the view to boosting industrialisation in the State.
It
had so far extended loans to over 1 lakh tiny, small and medium scale
industries to the tune of Rs. 9,413 crore. Of this, 40 per cent of the
loan was given to first generation entrepreneurs, he added.
Following
an appeal from the Hosur Small and Tiny Industries Association
(HOSTIA), the TIIC had announced a special scheme to extend loan for
purchase of power generators. Under this scheme, the entrepreneur’s
margin of the investment would be only 20 per cent, Mr. Maheshwaran
said.
