Vettri Scheme Offers Up to ₹5 Crore Loan Support for Women Entrepreneurs

The Tamil Nadu government is implementing the Vettri Magalir Thozhilmunaiyor Mempattu Thittam (Vettri Women Entrepreneurs Development Scheme) to encourage women’s entrepreneurship and provide financial support for starting businesses.

As a special feature of the scheme, 10 women entrepreneurs will be selected from each Assembly constituency across Tamil Nadu. Applications received through the respective constituency MLAs will be reviewed and selected based on eligibility by the Tamil Nadu Industrial Investment Corporation.

The loan assistance can be used for various business-related requirements, including purchasing land, constructing buildings, and buying new machinery and equipment. Under the scheme, eligible women entrepreneurs can obtain loans ranging from ₹10 lakh to ₹5 crore.

The current interest rate under the scheme is 9.95% per annum. First-time entrepreneurs will also receive special industrial training. The maximum repayment period for the loan is 9 years, including a moratorium period of up to 2 years considering the initial challenges faced while starting a business.

The loan must be repaid through monthly instalments. Applicants under the scheme must have an individual CIBIL score above 600.