Tamil Nadu - Coimbatore   

Applications for back-ended subsidy

Staff Reporter

COIMBATORE: The District Administration has called for applications from eligible small-scale units for the Back Ended Interest Subsidy scheme of the State Government for term loans taken by the units.

According to a release, loans obtained for technology upgradation and modernisation or obtained under the NEF Schemes, NSIC-SIDCO Consortium loan, composite term loan, loans availed of by tiny industries under the Credit Guarantee Fund Trust Scheme and loans taken for ISO certification, research and development for registration of patent and intellectual property rights can benefit from this scheme.

The release said the subsidy was available to the extent of the difference between Prime Lending Rate and actual lending rate of the bank, subject to a maximum of two per cent if the lending rate was above PLR for loans sanctioned on or after April 1, 2003 and three per cent if the lending rate was below PLR for loans sanctioned on or after November 14, 2005.

Eligible units should apply to the General Manager, District Industries Centre (DIC), No.2, Raja Street, Coimbatore - 641001 in the format available with the DIC.

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