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AU Small Finance Bank CGTMSE
The Credit Guarantee Scheme (CGS) was launched to improve the mechanism for delivering credit. The focus of AU Small Finance Bank CGTMSE is to ease the flow of credit to the MSE sector.Powered By
AU Small Finance Bank CGTMSE
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Here are a few factors
| Location | Applicant business should be within 40Km from Lending Branch Jurisdiction |
| CIBIL Score | 650+ |
| Eligible Applicant | Any MSME |
| Loan Amount | Up to 5 Cr |
| Loan Type | Overdraft Limit & Term Loan |
| Loan Tenure | Overdraft Limit-1 Year (renewable after 1 year) & Term Loan-3to 7 year according to project |
| Rate of Interest & Type | 9.50%-12% (Fixed) |
| TAT | 15 days |
| Processing Fees | 0.50% to 1.50% |
| CGTSME Charges | As per Slab |
| Turnover Criteria | 50 Lac-100 Cr |
| Foreclosure Charges | Nil |
| Minimum Business Vintage | 2 year |
| Co-Applicant Required | Yes, where applicant is other than individual |
| Co-Applicant Age | 21 year to 65 year |
| Collateral Required | No |
| Cautious Profile | Person living in dominated area, Applicant doing trade in highly risky profile |
| Negative Profile | 1.Applicant
who is having working capital exposure from any other Bank 2. Real Estate, Share Traders |
| USP | 1.
Up to 2 Cr OD Limit & CC Limit for 5 Cr 2. If applicant is Manufacturer-30% of Turnover, for Traders-25% of turnover & for Service Provider-20% of turnover |
| Additional | 1.
Applicant CMR rating should be< 5 2.Applicant Leverage ration should be less than 5 3. Debt-Equity ratio should be minimum 2:1 4. Applicant financial should be supportive for working capital assessment |
Required Documents
Business Profile of applicant
KYC of applicant & Co-Applicant
Last 3 year ITR with computation of income of applicant & co-applicant
Last 3 year audited balance sheet of applicant
Last 3 year Tax audit report of applicant
Provisional Balance Sheet of applicant if applicable
Projections of Next 3 year
Last 12 month Bank Statement of applicant & co-applicant
Last 3 year Debtors & Creditors on letter head if applicable
List of Directors & Shareholders/Partners on Letter head as the case may be
26AS of last 2 year of applicant & co-applicant
Copy of GST registration
Copy of MSME registration
Copy of Last 12 month GST return
Copy of all Approvals and/or affiliations received if any
Sanction letter of all running loan if any
Existing Debt Sheet if any
Latest utility Bill of residence if owned or rent agreement if rented
Latest utility Bill of Office if owned or rent agreement if rented
2 Reference with contact details
Eligibility Required For Axis Bank SBG Vertical CGTSME Loan
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Any MSME Applicant is eligible
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Minimum Turnover of 50 lacs is Required
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Applicant and co applicant age should be between 21 to 65 years.
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Applicant must have a minimum CIBIL of 720 +
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Minimum 2 years business vintage required
FREQUENTLY ASKED QUESTIONS
Under the CGTMSE, the highest loan amount is Rs. 5 crore.
Although the loans under this program typically don't require collateral, the MLIs may request extra security based on guidelines.
The full name of the Credit Guarantee Fund Trust for Micro and Small Enterprises in Banking is CGTMSE.
The UAN must be provided by the MLIs when submitting the guarantee cover application to the CGTMSE, per the updated criteria.
The bank will apply for guarantee coverage on the CGTMSE site if a sub-debt is approved. After the application is received, the CGTMSE approves the guarantee within a day, and the guarantee becomes active after the relevant guarantee charge is paid.
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