TIIC sets Rs 200-cr loan disbursal target for Erode

The Tamilnadu Industrial Investment Corporation (TIIC), a unit of the State Industries Department, would provide Rs 200 crore as loan to entrepreneurs in the Erode region during 2012-13, a senior official has said.

During the last fiscal, Rs 115 crore was released as loans in the region comprising Erode, Coimbatore, Tirupur and Nilgiris, the TIIC Regional Manager, Mr S. Gururaj, said at a loan mela here last evening.

He said a Rs 41-crore loan would be disbursed during this fiscal to the entrepreneurs of Erode district alone.

He said TIIC would advance up to Rs 20 crore with 25 per cent capital subsidy from the Government for installing generators up to 300 KVA to industrial units which submit proper project proposals.