Exclusive schemes for Tamil Nadu
Women Entrepreneurs India (WEI)
This is an organization started by Mahalakshmi Saravan in the year 2013 with an objective of aiding innovative business ideas with funding, marketing support and connecting them with mentors. The main idea behind setting up this organization was to act like a support system to women who are motivated enough and have innovative business ideas for building their own ventures. Anyone can become a member of WEI through a free of cost registration process. WEI dreams to create a robust eco-system of women entrepreneurs who can connect and exchange ideas.
Tamil Nadu Backward classes Economic Development Corporation LTD (TABCEDCO)
The corporation provides loan to the backward classes through economically and financially viable schemes, trade at a lower rate of interest. The corporation aims for development of backward classes through Sub-Channelizing Agencies. The eligibility criteria for applying for loan is in rural areas the family income should be below Rs 40,000/- and in urban areas the annual family income should be below Rs 55,000/-. The individual applying for loan should be of 18 years or above. The individual or group should be from backward classes.
Micro Credit scheme (Mahila Samridhi Yojana)
Beneficiaries will be given a minimum of Rs 2000 and a maximum of Rs 3000 as loan. They need to repay this amount in minimum 12 months and maximum 3 years. Loan will be given to the members of Self Help Groups and through Self Help Group.
New Swarnima Scheme
A loan up to Rs 100000/- will be sanctioned in which 5% will be TABCEDCO’s share with a rate of interest of 5% and other 95% will be National Corporation share with a rate of interest of 5%.
Loans will be given to Entrepreneurship Development Programme, Trained Women Entrepreneurship Development Programme. Women who are trained will be eligible to get loan up to Rs 10000 through cooperative banks under General Loan Scheme terms and conditions.
Tamilnad Mercantile Bank Ltd
This bank provides the Mahalir Loan that is a loan designed especially for Women Entrepreneurs. This loan provides financial help to women entrepreneurs for succeeding. The loan provides them working capital and other business related funding necessities. It offers loan upto Rs 10 Lakhs with interest on diminishing balance.
The Tamilnadu Industrial Investment Corporation Ltd
There are many incentives for Micro, Small and Medium Enterprise like the scheme provides capital subsidy of 25% on eligible plant and machinery value, subject to maximum of Rs 30 Lakhs. It also provides a additional capital subsidy of 5% to enterprises that are located in backward areas/agro based industries and enterprises set up by women entrepreneurs.
Centre for Entrepreneurship Development (CED)
The non-government organization helps in mass employment generation, women empowerment, textile industry which are sponsored by Government of India and Government of Tamil Nadu. It has trained around 2,400 women in various income generation activities.
Women Entrepreneurs Welfare Association (WEWA)
It has been serving women entrepreneurs for past six years and is still running quite successfully. The main aim of WEWA is to widen the entrepreneurial base and include various strategies to help women with their entrepreneurial ventures. Women are mainly constrained in tiny or micro enterprises, WEWA strives to broaden the scope of women entrepreneurs and help them to expand their businesses. WEWA aims at empowering women through entrepreneurship.