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Oct 2, 2009

TIIC loan mela pulled 500 participents !


Tamil Nadu Industrial Investment Corporation (TIIC) received applications for loans worth Rs. 5 crore from 17 entrepreneurs at a loan mela held here on Thursday.According to Jayanathi Rajendran, branch manager of the TIIC, the mela was organised mainly for the micro, small and medium enterprises. During the last one year, the industry faced a slump and there were signs of revival now. Hence, it was decided to organise a loan mela to encourage the units to invest now.

Over 500 participants attended the camp on Thursday and applications were given away for loans to the tune of Rs. 10 crore.Most of these were for greenfield projects. The TIIC offered concession in processing charges for the applications received at the camp on Thursday.Ms. Rajendran said the TIIC sanctioned loans worth Rs. 75 crore in 2008-2009 here and the target for this year was Rs. 144 crore.

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