The Kerala State Industrial Development Corporation (KSIDC) has come up with a scheme to provide loans of up to Rs 5 crores for buying tourist caravans and setting up caravan parks. Under the scheme, an enterprise is entitled to get a loan of up to Rs. 1 crore per caravan, or 70% of the cost, for buying up to five vehicles.
The loan amount ranges from Rs. 50 lakhs to Rs. 1 crore per caravan vehicle. Resorts/resort groups (firms, LLP and Limited Companies), fleet owners, tour operators and returnee migrants are eligible for the scheme.
Good Response to Caravan Policy
The caravan tourism policy, announced by Kerala in September, has generated a tremendous response from the industry.
The Tourism Minister Mr. P.A. Mohamed Riyas said the online registration for operating tourist caravans and developing caravan parks has witnessed a tremendous response from the industry within a short span of the launch of the project. “So far, we have received 198 applications for operating caravans and around 54 applications for setting up caravan parks. Since the Kerala State Industrial Development Corporation Ltd (KSIDC) has come up with a scheme to provide loans of up to Rs 5 crores, the project is sure to attract more entrepreneurs and groups,” Mr. Riyas said.
To know more about the funding, visit https://www.keralatourism.org/keravan-kerala/tourist-caravan#ksidc-caravan-loan