15 lakh business loan with Tamil Nadu government subsidy.

Under the Job Creation Scheme for unemployed youth, the loan ceiling for starting a business has been increased from Rs 5 lakh to Rs 15 lakh.

Business loan

Loan assistance with government subsidy for small, micro, business in Tamil Nadu?

In this regard, the Department of Small, Small and Medium Enterprises has directed the authorities to create awareness and take steps to provide more credit. The Tamil Nadu Government's Commerce and Industry Commission is implementing an employment generation program for unemployed youth.

Under this scheme, educated unemployed youth are assisted through financial institutions to get loans up to 15 lakh rupees with subsidy to start a new manufacturing business.

Business oriented businesses like textile shop, supermarket, etc., are helped to provide loans up to 5 lakh rupees.

In this regard, an official of the Small Industries Department said:

Under the Employment Generation Scheme, the loan ceiling for business-related industries was raised from Rs 5 lakh to Rs 15 lakh in May this year. The subsidy for the same has been increased from 1.25 lakh rupees to 3.75 lakh rupees. 

There were reports that loans were being given under the old ceiling. Therefore, to the district authorities to create awareness among the youth and provide more loans through the district vocational centers regarding the new upper limit