Government of Tamil Nadu had launched the entrepreneur development scheme to encourage those people who are socially and economically disadvantaged background. Through this scheme people can promote their enterprise. It helps not only individual but also a group of people. Through this scheme a group of people can start their business together with the help of government loan like self help group. The loan starts from Rs 50,000 to Rs 5.00 lakhs. The loan can be back through EMI or monthly interest basis. It is the easy process TIIC.
- Encourage entrepreneurship among those people who comes from socially and economically poor background.
- To promote enterprise of their own to lead a dignified life.
- To help the small businessman to increase income and make them economically capable.
- To provide group loans this can help them to spread their business.
- Provide institutional or professional training etc.
- People should have clear knowledge about the scheme.
- In the case of transport loan, the driver should have a valid license as well as the vehicle should be registered.
- The scheme targets basically those people who engage in their small business.
- The promoter’s contribution shall be a minimum of 10% of the project cost.
- Small businessman.
- Third party guarantee is necessary (within 2 lakhs one person and if the loan is more than 2 lakhs then two people).
- The guarantors should be employee of central government/Sate government/public sector banks or any other organization.
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