Loan up to `5 crore from Industries Department for purchase of tourist caravans and setting up of parks

Department of Industries with support for the Caravan Tourism Project implemented by the Department of Tourism. Kerala State Industrial Development Corporation (KSIDC) has decided to provide loans for caravan parks and vehicles.

KSIDC has decided to provide loans up to a maximum of Rs 5 crore for the purchase of tourist caravans and the setting up of parks. A loan of more than Rs 1 crore will be sanctioned for the purchase of more than one caravan.

If more than five vehicles are purchased, KSIDC will provide 70% of the cost as a loan. Loans ranging from Rs 50 lakh to Rs 1 crore per vehicle. KSIDC will allot a maximum of `5 crore for the purchase of such caravans and the setting up of a park.

The interest rate has been fixed at 8.75 percent (floating) with a 0.5 per cent discount on quick payments. The loan has to be repaid within 84 months after the six-month moratorium period. The first 100 caravans will get a subsidy of Rs 7.50 lakh or 15 percent of the cost.

The next 100 vehicles will get Rs 5 lakh or 10 per cent of the cost. From 201 to 300 it will be Rs 2.50 lakh or five percent of the cost. Five caravans will be subsidized by an individual investor or group for three years.

For more information on loans Phone: 0471 2318922, 0484 2323010