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[BUSINESS] · India · 4 sources

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Tamil Nadu launches loan scheme for women entrepreneurs

women entrepreneurs Tamil Nadu business loans Vetri Magalir Thozhilmunaivor Membattu Thittam institutional finance

The Tamil Nadu government has introduced a new scheme, Vetri Magalir Thozhilmunaivor Membattu Thittam, designed to support women entrepreneurs in starting or expanding their businesses. The initiative aims to improve access to institutional finance for women across the state, including those in rural areas outside major industrial centers.

Under the program, eligible women can apply for loans ranging from Rs 10 lakh to Rs 5 crore. These loans will be administered through the Tamil Nadu Industrial Investment Corporation (TIIC) and feature an annual interest rate of 9.95 per cent, calculated on a diminishing balance. Borrowers are permitted a repayment period of up to nine years.

To identify candidates, Members of the Legislative Assembly (MLAs) have been requested to nominate 10 prospective women entrepreneurs from each of the state’s 234 Assembly constituencies. This process is expected to create an initial pool of 2,340 applicants. Following nomination, the industries department will scrutinize profiles to assess eligibility and shortlist candidates. Industries and Investment Promotion Minister S. Keerthana noted that the scheme seeks to remove capital barriers and create economic pathways for women to become employers and contributors to the state's growth.

Entities

S. Keerthana · Tamil Nadu · Tamil Nadu Government · Tamil Nadu Industrial Investment Corporation

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Sources

TN to launch renewable energy project portal on October 1 [bhaskarlive.in]
TN govt to help aspiring women entrepreneurs with new loan scheme [www.socialnews.xyz]
TN Govt Scouts for 10 Women Entrepreneurs From 234 Constituencies [www.deccanchronicle.com]
2,340 Tamil Nadu women entrepreneurs to get Rs 10L to Rs 5 crore loan under new scheme [www.newindianexpress.com]