What is the CGTMSE Scheme?
The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) is a flagship scheme of the Government of India, launched to provide access to collateral-free credit for Micro and Small Enterprises (MSEs). The trust provides a guarantee to lending institutions, encouraging them to extend credit to new and existing MSEs without the need for third-party guarantees or collateral.
This scheme plays a pivotal role in fostering entrepreneurship by mitigating the risk for lenders. It makes it easier for first-generation entrepreneurs and small businesses to secure the necessary funds for their ventures, thereby boosting economic growth and employment generation.
Features & Benefits of CGTMSE
The CGTMSE scheme offers several advantages to empower Micro and Small Enterprises.
Access to bank credit without the need for any collateral or third-party guarantee.
The scheme covers term loans and/or working capital loan facilities up to a certain limit.
Both new and existing micro and small enterprises are eligible to be covered under the scheme.
CGTMSE provides a guarantee cover ranging from 75% to 85% of the credit facility.
Encourages aspiring entrepreneurs to start their own businesses without the burden of collateral.
Credit facilities extended by various lending institutions are covered under this scheme.
CGTMSE Eligibility Criteria
To avail the benefits of the CGTMSE scheme, businesses must meet the following criteria.
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