Tamil Nadu govt offers small business loans up to Rs 15 Lakh – Check eligibility!

Backward and Most Backward Classes can avail loans up to Rs. 15 lakh to start businesses. Individuals belonging to BC, MBC, and Denotified Communities can get loans at low interest rates. The Tamil Nadu Backward Classes Economic Development Corporation provides this financial aid.

Loan Share:

National Backward Classes Finance & Development Corporation - 85%
Tamil Nadu Backward Classes Development Corporation - 10%
Beneficiary's Share - 5%

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Up to Rs. 1.25 lakh - 7%
Rs. 1.25 lakh to Rs. 5 lakh - 8%
Rs. 5 lakh to Rs. 15 lakh - 8%
Repayment Period: 3 to 5 years

Eligibility:

The applicant must belong to MBC/DNC as per the State/Central list.
Annual family income should not exceed Rs. 3 lakh.
Age should be between 18 and 60 years.
Only one member per family is eligible.

Application forms can be obtained from:

Head Office of Tamil Nadu Backward Classes Economic Development Corporation in Chennai
District Backward Classes and Minorities Welfare Officer and Zonal Manager, Tamil Nadu Backward Classes Economic Development Corporation
Joint Registrar of Cooperative Societies Offices.

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Caste, Income, and Nativity Certificate
Quotation from a leading company
Project Report
Ration Card
Driving License
Documents for financial assistance
Aadhaar Card

Applicants must submit completed applications along with these documents to the Backward Classes and Minorities Welfare Officer, Joint Registrar of Cooperative Societies, or Cooperative Societies.