CHENNAI: State Minister of Cooperation KR Periyakaruppan on Thursday announced that the government has introduced a "Special Small Business Loan Scheme" to support small vendors severely affected by Cyclone Fengal.
According to Periyakaruppan, the scheme aims to provide financial assistance to small vendors, shop owners, and street vendors who have suffered losses due to the cyclone.
The cyclone, which hit the northern districts of Tamil Nadu on November 30, caused widespread destruction and disruption of business entities in the districts of Villupuram, Kallakurichi, Tiruvannamalai, Cuddalore, Dharmapuri, and Krishnagiri.
Small vendors in these districts have been severely affected, with many losing their livelihoods and facing financial difficulties.
"Small vendors will benefit under the "Special Small Business Loan Scheme" with loans ranging from Rs 10,000 to Rs 1 lakh. Eligible small vendors will get loans for low interest rates.
The loans will be disbursed through special camps organised by the Cuddalore and Villupuram District Central Cooperative banks," Periyakaruppan said in a statement.
The special camps will be held in the affected districts from December 6 to 12.
Small vendors affected by the cyclone can apply for loans under this scheme by attending these camps with the required documents.
Further, the minister appealed to the small vendors to take advantage of this scheme and benefit from it.