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7/27/2019 Credit Guranatee Fund Trust Scheme for Micro
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CREDIT GURANATEE FUND TRUST SCHEME FOR MICRO & SMALL
ENTERPRISES (CGTMSE)
SALIENT FEATURES:
CGTMSE was set up jointly by GOI and SIDBI
The scheme is extended to all New and Existing units of Micro
and Small Enterprises
The scheme is available both under Manufacturing Sector and
Service Sector
Eligible loan limit is up to Rs. 100.00 lakhs
No collaterals including the third party guarantee
The loans to Micro enterprises up to Rs.5.00 lacs the max
guarantee cover will be 85% of amount in default/Max
4.25 lakh and loans to MSE for credit facility upto Rs.50 lakh
operated by women entrepreneurs are covered up
to 80% of amount in default/max Rs.40 lakh
The Maximum guarantee cover where credit facility above Rs.5
lakh upto Rs.50 lakh is 75% of amount in
default/max Rs.37.50 lakh
Above Rs.50 lakh upto Rs.100 lakh Rs.37.50 lakh plus 50% of
amount in default above Rs.50 lakh/max 62.50 lakh
One Time upfront guarantee fee has to be paid within one month
from date of first disbursement/demand advice
date whichever is later and Annual Service fee at specified rate
on the credit facility has to be paid to the Trust
before 31st of May every year
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Loans to Micro & Small Enterprises (MSEs)
EligibilityAny individual / partnership firm / Public or Private
Ltd. Companies desirous of promoting MSEs (Manufacturing
sector) with investment in Plant & Machinery not exceeding
Rs. 5 crore and Medium Enterprises with investment
in plant & Machinery is above Rs. 5 Crore and upto Rs. 10
crores.
Extent of Finance
Need based (both fund based and non-fund based)
Margin
Working Capital/ Medium Term Loan
a) No margin up to Rs.25000/-
b) Credit limit over Rs.25000/-
Flexible approach:15% - 25% depending on the merits of each
case
Security
Primary:
i) Assets created out of Bank finance
Collateral:
Obtention of collateral Security exempted
Up to Rs. 5 lacs
Over Rs. 5 lacs and up to Rs. 25 lacs, based on good track
record and satisfactory financial position
Over Rs.25 lacs at the discretion of the Bank
Interest
As per prevailing rates from time to time
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Export Finance
Establishment of Letter of Credit
Pre-shipment finance
Post-shipment finance
Assistance against Duty draw back
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Small Business Finance
Retail Trade- Advances to Retail Traders (Other than Fertilizers
& Mineral Oils)
Eligibility
All types of Retail Traders are eligible. Persons who propose to
start retail trade business, fair price shop,
consumer co-operative stores are also eligible for finance
Extent of Finance
Credit limits up to Rs.20 lacs
Rate of Interest
As per prevailing rates from time to time
Margin
No margin up to Rs.25000/-
15 to 25 percent, for credit limits exceeding Rs. 25000/-
Security
Assets created out of Banks finance
Collateral security as per Banks norm
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Small Business Enterprises
Eligibility
Individuals and firms managing a business enterprise established
mainly for the purpose of prov iding any service
other than professional services.
Extent of Finance
Individual limits for working capital will be fixed depending
upon the requirement of activities pursued. Advances
for acquisition, construction, renovation of House Boats and
other tourist accommodation will be financed.
Advances for distribution of mineral oils will also be
considered under this category
Rate of Interest
As per prevailing rates from time to time
Margin
No margin up to Rs.25000/-
15 to 25 percent for credit limits exceeding Rs.25000/-
Security
Assets created out of Banks finance
Collateral security as per Banks discretion
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Professionals & Self-Employed persons
Eligibility
Medical practitioners including Dentists, Chartered Accountants,
Cost Accountants, practicing Company
Secretary, Lawyers or Solicitors, Engineers, Architects,
Surveyors., Construction Contractors or Management
consultantsExtent of Finance
Professional and self employed persons are eligible for
assistance up to Rs.10 lacs of which not more than Rs.2
lacs should be for working capital requirements. However, in
case of professionally qualified medical
practitioners, financial assistance will be up to Rs.15 lacs for
working capital limits for setting up practice in semi-
urban and rural areas
Rate of Interest
As per prevailing rates from time to time
Margin
No margin up to Rs.25000/-
15 to 25 percent for credit limits exceeding Rs.25000/-
Security
Assets created out of Banks finance
Collateral security as per Banks norms
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Transport Operators
Eligibility
Advances to Small Road and Water Transport operators.
Extent of Finance
Not exceeding Rs 200 lakhs
Rate of Interest
As per prevailing rates from time to time
Margins
No margin up to Rs.25000/-
15 to 25 percent for credit limits exceeding Rs.25000/-
Security
Assets created out of Banks finance
Collateral security as per Banks norm
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Laghu Udyami Credit Card Scheme
Eligibility
Small businessmen, retail traders, artisans, Small industrial
units including those in Tiny sector, Professionals
and self employed persons, enjoying working capital up to a
limit of Rs 10 lacs.
Limit
Fixed at 20% of annual sales turnover declared in Income
Tax/Sales Tax returns
Professionals and Self- employed persons are eligible for credit
limits up to 50% of their gross annual income, as
declared in their income- tax return
(The assessment norms in vogue is as per the Nayak Committee
recommendations)
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For units above Rs. 2 lacs and up to Rs. 10 lacs, scoring model
method will be followed.Those who score more
than 60% would qualify for coverage under the scheme
Primary security
Hypothecation of stock in trade, receivables, machinery, office
equipment etc.,
Collateral Security
As decided by the Bank
Margin
25%
Validity
Valid for 3 years. Half-yearly review will be done on the basis
of last 12 months turnover in the account
Interest
As per prevailing rates from time to time
Insurance
Insurance cover is waived for limits up to Rs.25000/-.
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RICE MILL PLUS
We have introduced a New product named as RICE MILL PLUS with a
liberalized approach viz lower margins,
lower rate of interest linked to extent of collaterals made
available.
The scheme envisages coverage of all existing units with proven
track record and take over of units subject to
compliance with takeover norms. The new units can also be
accommodated on case to case basis.
We have adopted simplified scoring model. The limit upto and
inclusive of Rs.5.00 lakhs should be collateral free
and covered under CGTMSE. The rate of interest is 9% p.a for
such advances
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CONTRACTOR PLUS
CONTRACTOR PLUS has been introduced under SME segment to fund
the work bills of BBMP, all Municipal
Corporations, Zilla Parishats, BWSSB and other Statutory Bodies
all over Karnataka state provided they are
agreeable for the tripartite agreement. Instead of LCs, Bills
are backed by tripartite agreement.
Contact your nearestBranch of State Bank of Mysore or
Chief Manager
State Bank of MysoreSmall and Medium Enterprises Department
H .O.: K.G.Road, Bangalore - 560009, INDIA
Phone: 91 80 22353901 to 22353909 ; 22353473.extn.377
Fax: 91 80 22353458
Email:[email protected]
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