Coimbatore District Collector announces loan schemes for young entrepreneurs

Coimbatore: Coimbatore District Collector Sameeran has announced loan schemes to encourage entrepreneurship in youngsters and help them on their path to progress.

The District Industrial Centre helps youth through the Self-Employment Generation scheme. A subsidy of Rs. 185 lakhs is set as target amount for 325 industrial projects under the UYEGP scheme for the financial year 2021-2022. The State Government has announced exemption for entrepreneurs from interviews until September 30, providing time for start-ups due to pandemic.

* Must have passed Class VIII.

* Should have completed 19 years of age.

* Maximum age for the general category -36 and the maximum age for the special category -45

* Continues to live in Coimbatore district for not less than three years.

* Family income should not exceed Rs.5 lakhs per annum.

For the Thangamani Special Category loan scheme, Women, Scheduled Castes, Scheduled Tribes, Most Backward Classes, Ex-Servicemen, Differently-Abled and Transgenders are eligible.

Manufacturing industries can also apply online for starting a business with a maximum investment of Rs. 15 lakhs, and service businesses with a maximum investment of Rs. 5 lakhs. A maximum grant of Rs. 2.50 lakhs will be provided on behalf of the Government of Tamil Nadu. Entrepreneurs can apply through www.msmetamilnadu.tn.gov.in.

Applicants can contact 8925533932/36 for additional guidance.