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Business Loan:-

Business loans are unsecured financial assistance provided by banks and NBFCs in India. The primary aim of these is to support the urgent needs of your growing business. Most financial institutions offer term loans and flexi loans to cater to the business needs of a company. Business loans are also called commercial loans. All types of businesses such as a sole proprietorship, privately held company, partnership firms, self-employed individuals and retailers can avail these loans. .

With a view of promoting young entrepreneurs and their vision of starting their own business, the Government of India through Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) provides young entrepreneurs the facility of obtaining a bank loan without putting any collateral as security with the bank..

Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE)
Government Of India along with the Ministry of Small and Medium Enterprises launched a Credit Guarantee Scheme(CGS) for first-time entrepreneur. To ensure easy credit to the first time entrepreneurs, the Government of India along with SIDBI set up the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). .

 

Loans Approved under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) Scheme
Micro and Small Enterprises whether new or old, which are engaged in manufacturing or service activity are covered under CGTMSE Scheme and are eligible to obtain credit from CGTMSE Member Lending Institutions without any collateral security or guarantee. .

However, MSE engaged in 'Retail Trade' is excluded from obtaining credit from this scheme. .

A loan of up to 50 lakhs can be given by Regional Rural Bank/Financial Institution to an eligible borrower in the MSE sector. Commercial Banks and financial institutions can extend loans up to Rs. 100 lakhs under the scheme..

Connect Soul can help you obtain a loan under the CGTMSE Scheme by making sure that you abide by all the eligibility requirements for obtaining a credit facility under this scheme..
 
     
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