Business Loan
Personal Loan
Home Loan
Education Loan
Car Loan
Credit Card
Loan Against Security
Loan Against Property
| Loan Amount | ₹100,000 |
| Interest % | 8 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 8,699 |
| Total Interest | ₹ 4,386 |
| Loan Amount + Interest | ₹ 104,386 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 65,779 | ₹ 3,813 | ₹ 69,592 | ₹ 34,221 | 65.78 % | |||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||
| ₹ 34,223 | ₹ 573 | ₹ 34,796 | ₹ 0 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||
Explore Your Options
CGTMSE or Credit Guarantee Fund Trust for Micro and Small Enterprises loan facilitates easy, simple and quick credit appraisal as it provides credit guarantee for banks for lending to MSMEs. CGTMSE is a collateral-free loan that does not require any security or collateral from the borrower. The Banker needs to just do the underwriting, which takes less time and effort.
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
One of the most important steps. Now you will have to submit all the required documents digitally.
Once your application is approved based on your eligibility, the amount will be disbursed to your account shortly.
CGTMSE stands for Credit Guarantee Fund Trust for Micro and Small Enterprises. It is a government-backed loan guarantee scheme that was launched to provide collateral-free loans to micro and small enterprises (MSEs) in India. The scheme is managed by the Small Industries Development Bank of India (SIDBI) in collaboration with the Ministry of Micro, Small and Medium Enterprises (MSME) and the Government of India.
Under the CGTMSE scheme, lenders such as banks and financial institutions can provide loans to MSEs without the need for any collateral or third-party guarantee. The scheme covers both term loans and working capital loans, and the maximum loan amount is Rs. 2 crore. The guarantee cover under the scheme is up to 75% of the loan amount.
The CGTMSE scheme is intended to encourage entrepreneurship and promote the growth of micro and small enterprises in India. It also aims to reduce the risk of default for the lenders and promote access to credit for small businesses. The scheme is available to MSEs engaged in manufacturing or service activities, except for certain sectors such as agriculture, educational institutions, and self-help groups.
To be eligible for the CGTMSE scheme, the MSE must have a valid Udyog Aadhaar Number (UAN) and comply with the definition of an MSE as per the MSMED Act, 2006. The scheme is open to both new and existing MSEs, and the interest rates and other terms and conditions may vary depending on the lender.
It is important to note that the CGTMSE scheme is a guarantee scheme and not a loan scheme. The borrower must still apply for a loan from a lender and meet their eligibility criteria and loan requirements. The CGTMSE scheme provides a guarantee to the lender in case of default by the borrower, which reduces the lender's risk and encourages them to provide loans to MSEs.
Note: It is important to note that the exact documents required may vary depending on the lender's policies and the loan amount. MSEs should check with their lender for the specific requirements and eligibility criteria for a CGTMSE loan.
A CGTMSE loan is a government-backed loan guarantee scheme that provides collateral-free loans to Micro and Small Enterprises (MSEs) in India.
To be eligible for a CGTMSE loan, the MSE must be engaged in manufacturing or service activities, have a maximum investment in plant and machinery or equipment within the specified limit, and have a turnover within the specified limit.
The maximum loan amount under the CGTMSE scheme is Rs. 2 crore.
The guarantee cover under the CGTMSE scheme is up to 75% of the loan amount.
The documents required for a CGTMSE loan include Udyog Aadhaar Memorandum (UAM), business plan, identity proof, address proof, financial documents, and loan application form.
Consultant
Copyright 2023 © Referloan.in.
