Annal Ambedkar Business Champions Scheme (AABCS)

• “Annal Ambedkar Business Champions Scheme (AABCS)” was launched by Government of Tamil Nadu. In order to promote the economic development of SC/ST entrepreneurs, this scheme has been launched. 

• Under this scheme, State Government will provide a 35% capital subsidy and 6% interest subvention for loans to procure equipment and machinery.

•  Applicant should be a resident of the State of Tamil Nadu 

• Minimum age limit is 18, Maximum age limit is 55yrs.

• The scheme can support both new enterprises and expansion of existing enterprises.

             (Note: Age criteria is not applicable to the existing entrepreneurs)

• The scheme shall be 100% owned by persons belonging to SC/ST.

(Note: Proprietor, Partnership, Firms, Private Limited Companies are eligible. All shareholders should be belonging to SC/ST communities only))

•   No minimum educational qualification prescribed, No ceiling on annual income.

•  There is no upper ceiling on the cost of project  

•   35% subsidy, 65% term loan

• No mandated to bring any margin money, Repayment period not exceeding 10 years   

• Capital subsidy @35% of the project cost subject to a maximum of Rs 1.50 crores

• 6% Interest subvention for entire repayment period of term loan and first 2 years for cash credit / overdraft. Both capital subsidy and interest subvention are given upfront

• The State Government will provide a 35% capital subsidy on the Eligible Project Cost, not exceeding Rs1.5 Crore. 

• Identity Proof

• Passport size Photo

• Project Report

• Proof of age

• Caste/ Community Certificate.

• Residence Proof.