CGTMSE 2011 Recruitment Credit Guarantee Fund Trust for Micro and Small Enterprises
CGTMSE 2011 Recruitment Credit Guarantee Fund Trust for Micro and Small Enterprises
The main Aim is that the lender should give importance to project viability and secure the credit facility purely on the primary protection of the assets financed. Availability of bank credit without the hassles of collaterals / third party guarantees would be a major source of defend to the first generation entrepreneurs to realise their dream of setting up a unit of their own Micro and Small Enterprise (MSE).
CGTMSE Credit Guarantee
The assure cover available under the strategy is to the extent of 75% / 80% of the approved amount of the credit facility, with a maximum guarantee cap of prescribe amount The extent of guarantee cover is 85% for micro enterprises for credit up to Rs.5 lakh.
Note : These vacancies may by old / filled, for latest vacancies check the official web site of the company / department
Credit Guarantee Fund Scheme
The Board of Trustees of Credit Guarantee Fund Trust for Small Industries, having decided to frame a Scheme for the purpose of providing guarantees to a substantial extent in respect of credit facilities to borrowers in Micro and Small Enterprises.
Eligibility Criteria
Eligible Lending Institutions
All scheduled commercial banks and specified Regional Rural Banks, NSIC, NEDFi, SIDBI, which have entered into an agreement with the Trust for the purpose.
Maximum Risk Cover
Of the credit facilities covered by MLIs, Trust shall guarantee, in case of default by the borrower, up to 75 per cent. Other charges such as penal interest, allegiance charge, service charge, or any other levies/ expenses shall not characterize for the guarantee cover.
Non-Eligibility
The Trust also reserves the right to reject any application for the guarantee cover, if it deems requirement. Any facility given on the basis of collateral protection or third party guarantee shall be indisposed for coverage under the scheme.
Guarantee fee In Approx
The GF will have to be paid within 30 days from the date of first disbursement of credit facility by the MLI to a borrower. For credit facility upto Rs.5 lakh, an upfront Guarantee Fee (GF) of 1% of the amount sanctioned will have to be paid to the Trust by the MLI. For amounts sanctioned beyond Rs.5 lakh and upto Rs.100 lakh, the GF is 1.5%, while for credit facility upto Rs. 50 lakh for units in the North Eastern Region including Sikkim , the GF is 0.75% .
Address
Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE)
7th floor, SME Development Centre,
C-11, G- Block, Bandra-Kurla Complex,
Bandra (East) , Mumbai – 400 051
Contact No.: 2654 1803, 6753 1218
October 13th, 2010 at 11:16 am
Respected sir, I want to start a honey production unit. But the banks of my area offered max Rs-300000/- only on the other hand the required input is Rs-500000/-. So how can I get the fund? What process should I use? Where I can summit application?
Thanks.