A step towards big enterprise.
Are you a start up founder and looking for loans ?
Do you know, you will be getting loans without any collateral or 3rd party.
Yes you can get loans up to 5 crore to 10 crore.
Old or New Business still can get loans.
The government of India initiated CGTMSE to give loans to new startups and businesses to enhance growth. The business which are under the category of Micro, who's turn over is 10 crore, small upto 100 crore and medium which is around 500 crore. The loans would be given to certain sections were agriculture and self help groups are not involved.
Who will get loans
-New and old businesses owners
- -Manufacturing
- -Service sectors
- -Retail and trading
- -Startups which are recongnised by The Department for Promotion of Industry and Internal Trade (DPIIT)
- -Women entrepreneurs
- -SC and ST entrepreneurs
Documents required for loans
New business
KYC
- GST( If sale is Exceeds 40 lakhs )
- Udyam certificate
- Machine Quotation
- Projected Balance sheet/CMA data
- Saving account statements of 6 months
- Business plan
Old Business
-KYC proof
- -GST certificate/ Udyam certificate
- -2 years balance sheet
- -6 months business account statement
- -Machine quotation
- -2 years ITR with computation
- -6 months saving statements
To Apply
-Jan Samarth portal
- -Standup India portal
- -MSME Loan
- -Public and Private
The loans would have upto 5 to 7 years time frame and some banks give 10 years also. These loans do not need collateral and 3rd party interference. In case if the loan is not given you can complain to the MSME ministry portal. The defaulters of loans would be guaranteed upto 75 to 85 percent from the government CGTMSE.
