CGTMSE stands for Credit Guarantee Fund Trust For Micro and Small Enterprises. My Mudra CGTMSE Loans are collateral-free loan facilities designed for Micro and Small Enterprises (MSEs).Apply Now Contact Us
Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) is jointly set up by the Ministry of Micro, Small & Medium Enterprises (MSME), Government of India and Small Industries Development Bank of India (SIDBI). This initiative has been taken to catalyse the flow of institutional credit to Micro & Small Enterprises (MSEs).
In a bid to strengthen the credit delivery system, Credit Guarantee Scheme (CGS) was launched. This facilitates the flow of credit to the MSE sector. The scheme has provided access to finance for unserved, under-served and underprivileged entrepreneurs.
For more than 20 years CGTMSE Loans have been playing an instrumental role in facilitating guarantee cover to collateral and/or third-party guarantee-free credit facilities. These lending facilities are provided by mandated Member Lending Institutions (MLIs) to MSEs.
For better efficiency and improved customer services, CGTMSE has been leveraging technology advancements. At My Mudra, we ensure that your SGTMSE loan is sanctioned without much hassle.
My Mudra CGTMSE Loans: Fulfilling Entrepreneurial Dreams
From setting up a business to scaling it up, every entrepreneur needs financial aid to kick off his operations and sustain the challenges of a cut-throat competitive market. Especially SMEs and MSMEs, which contribute to 10% of the country’s GDP, need collateral-free funds to thrive in the business.
MY Mudra CGTMSE Loans go a long way in helping small enterprises get rid of the hassles and tussles of everyday business which to much extent depend on their financial stability. The creation of a robust credit relief system for small enterprises ensures better credit flow for them.
The most striking features of the scheme are:
· For the defaulted principal loan amount up to Rs.50 lakh, guarantee repayment of 75% or 85% in some cases
· For loan amounts greater than Rs.50 lakh but under Rs.1 crore, the maximum guarantee is 50%
· 85% repayment guarantee for loans up to Rs.5 lakhs to micro-enterprises
· In case the MSME is promoted by a woman or the location of the unit is in the North East Region (NER), the guarantee amount for repayment is 80% of the loan amount
· Business units to be rehabilitated if the failure is beyond the control of the management to the extent of Rs.1 crore as support to the lender for assistance in resuscitating the enterprise
CGTMSE Loans are also provided to rehabilitate business units. For rehabilitation, it is ascertained that the business unit is in a bad condition due to factors that are beyond the control of the management. The loan for rehabilitation extended by the lender is covered within the credit cap of Rs. 1 crore
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Upgrade your home as per your tastes and preferences. A home renovation loan is available to meet the costs.
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