CREDIT GUARANTEE FUND SCHEME FOR MICRO & SMALL ENTERPRISES (CGMSE)
OF CREDIT GUARANTEE TRUST FOR MICRO & SMALL ENTERPRISES (CGTMSE)
Purpose
CGMSE provides credit guarantee comfort to banks and FIs for the credit
facility extended to the eligible MSE units
Eligibility
Fund based credit facility aggregating to Rs.100 lakhs extended to new or
existing Micro and Small Enterprises units (both manufacturing and
service) units including select projects of Agri Clinic and Agri Business
(ACAB) Centers for which the entrepreneur is not in a position to offer
collateral security and/or third party guarantee
Maximum credit Rs.100 lakhs (Fund Based)
facility
for
guarantee cover
Security
Assets created out of credit facility granted by the Bank including the
fixed assets those associated with the business of the unit
Tenure of the Period of the term credit in case of term loan;
guarantee cover
Period of 5 years in case of working capital facility subject to renewal
thereafter
Guarantee fee
1% of the credit facility upto Rs.5 lakhs & 1.5% of the credit facility
above Rs.5 lacs, to be paid upfront
Annual
service 0.75% of the credit facility extended/sanctioned by the Bank
fee
Special offers, if In case of Artisan Credit Cards, Govt. of India reimburses the guarantee
any
fee.
Conditions apply. The information provided is illustrative and not exhaustive.
For more details, please contact your nearest Canara Bank branch or E-mail to:
hosbu@canarabank.com