Summary:
Thiruvananthapuram, Dec 1 (PTI): In a major boost to Kerala"s stakeholder-friendly Caravan Tourism project "Keravan Kerala", the state"s investment promotion agency Kerala State Industrial Development Corporation (KSIDC) has come out with an attractive scheme to provide loans up to Rs five crore to purchase tourist caravans and set up caravan parks.
Under the scheme, an enterprise is entitled to get a loan of up to Rs one crore per caravan, or 70 per cent of the cost, for buying up to five vehicles.
The range of the loan is from Rs 50 lakh to Rs one crore per vehicle and the loans will be available only to buy new vehicles, an official statement said here.
The interest is pegged at 8.75 per cent (floating) with a 0.5 per cent rebate for prompt repayment.
The loan should be repaid in 84 months after a twelve-month moratorium period.
The enterprises eligible for the loan are existing resorts or resort groups (firms, LLP and Limited Companies), fleet owners and tour operators and repatriates, it said.