FAQs
We are here to answer your Questions
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To Avail CGTMSE Loan, is it necessary that the borrower SHOULD NOT OWN ANY PROPERTY?
No, irrespective whether the borrower owns the property or not, CGT Cover can be granted to him.
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Can the new businesses with less than 1 years in business take Loans under Government Guaranteed Schemes?
Yes, we have given funding under various government guaranteed schemes like Mudra, CGTMSE and Stand Up India to start up businesses
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Is Udyam Registration Certificate Compulsory in Government Guaranteed Schemes?
Yes, to prove that the unit is Micro (Up to 10 Crores turnover) or Small (Up to 50 Crores Turnover), it is necessary to have Udyam Registration Certificate.
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If already a loan is going on under CGTMSE scheme, can that be taken over by another bank and enhancement can be given?
Yes, CGTMSE Loans can be taken over by one bank from another.
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If already a loan is going on with Collateral, can that be taken over under CGTMSE Scheme and Collateral be removed?
No, in case of takeover, there can not be any dilution of the collateral. And hence, the existing collateral will be taken over by the new bank, if it is giving the desired loan amount.
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Is CGTMSE more cost effective than taking Unsecured Business Loans?
Yes, Absolutely ! There is a saving of minimum 7-10% per annum by availing CGTMSE Loans.
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Do you have anything for Exporters
Exporters can take EPC (Export Packing Credit) and get 2% Govt Subvention on the Rate of Interest
Exporters can also avail Foreign Bill Discounting without collateral, at very competitive rates. -
Do you have anything special for Agricultural and Food Products?
Government of India is pushing hard to develop Agricultural Infrastructure Segment and hence there are several incentive schemes. There is a 35% Credit Linked Subsidy on the project cost for Cold Storages. There is also a 33% Credit Linked Subsidy on certain Food Processing Units.
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Do you have anything special for Doctors?
Yes, Unsecured Loans to Professionals can be granted at a rate as low as 10.25% and the eligibility is also very high compared to the financials eligibility as per the IT Returns.