News

Coimbatore Corporation Commissioner Announces Loan Camp for Street Vendors

SimpliCity News Team · 04 Sept 2024

Coimbatore: In a significant move to support the local economy, Coimbatore Corporation Commissioner M. Sivaguru Prabakaran IAS has announced a daily loan camp for street vendors in the city. The initiative, aimed at providing financial assistance through banks, will be held at the Coimbatore Corporation's main office on all working days from 10:30 AM to 5:00 PM.

The loan camp is open to various categories of street vendors, including those who have previously applied for bank loans but were unsuccessful, and those who have diligently repaid their first and second installments of earlier loans. This inclusive approach ensures that a wide range of vendors can benefit from the financial support.

To participate in the camp and avail themselves of the loan facility, street vendors are required to bring essential documents. These include their street vendor identity card, Aadhaar card, and bank passbook. The Corporation Commissioner emphasized that all eligible street vendors should take advantage of this opportunity to strengthen their businesses.

This initiative is part of the Corporation's efforts to boost the informal sector and provide much-needed financial support to street vendors who play a crucial role in the city's economy. By facilitating easy access to bank loans, the Corporation aims to help these small-scale entrepreneurs expand their businesses and improve their livelihoods.

The daily nature of the camp ensures that vendors can choose a convenient time to visit and apply for loans without disrupting their daily business activities. This flexible approach is expected to encourage maximum participation from the street vendor community in Coimbatore.

street vendors bank loans financial assistance Coimbatore Corporation economic support

Coimbatore Corporation Commissioner Announces Loan Camp for Street Vendors

Related stories