Enterprise Business Plans Financing
The component will facilitate access to finance for business plans of individual and group enterprises through Matching Grant Program (MGP) and other financial services by financial Institutions.
Matching Grant Program
The objective of this component is to bridge the demand supply gap for new enterprises and group enterprises to access finance from formal financial institutions. Matching grants would be intended for first time entrepreneurs, women led businesses, enterprise groups, producer collectives and other types of enterprises perceived as a challenge by the financial sector.
The Matching Grant Program (MGP) is set up to incentivize the repayment of borrowers and generate momentum amongst the financial institutions to lend to the above said enterprises. Matching Grant will be available to the borrowers together with the loans sanctioned by the PFI (Participating Financial Institutions). On prompt repayment of 70% of the loan amount, the borrower is eligible for 30% waiver from the Project.
This component will contribute to the design, promotion and implementation of transformational ideas that use technology, innovation, and partnerships to tackle development challenges in Tamil Nadu and will consist of two major interventions namely:
- i) Tamil Nadu Rural Transformation Market Place (TNRTM) - a platform to identify, showcase and celebrate innovations related to themes that have the potential to impact rural economic growth in Tamil Nadu.
- ii) Thematic Pilot Projects – The project will be piloting three projects that are independent, yet consciously induced by the project and are guided by global and national knowledge, experiences, and best practices.
The Projects are
(a) Creative industries to support rural artisans,
(b) Agri food hub facility to promote the Culinary sector,
(c) Green enterprises such as biodegradable Sanitary Napkins to promote menstrual hygiene among women.