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Axis Bank CGTSME
The program's objective is to give credit guarantees for term loans without collateral to eligible MSME units. This scheme is solely focused on providing them with financial support. The CGTMSE's assistance makes it easier for MSME units to get financial support from lenders.Powered By
Axis Bank CGTSME
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Here are a few factors
| Location | Applicant buisnes should be within 40Km from Lending Branch Jurisdiction |
| CIBIL Score | 720+ |
| Eligible Applicant | Any MSME |
| Loan Amount | Upto 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%-11% (Fixed) |
| TAT | 15 days |
| Processing Fees | 0.50% to 1.50% |
| CGTSME Charges | As per Slab |
| Turnover Criteria | 50 Lac-20Cr |
| 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 , Bullion Traders, School |
| USP | 1.
Upto 2 Cr OD Limit & CC Limit for 5 Cr 2. If OD Product-25% of Turnover, For CC Product-20% of turnover |
| Additional | 1.
Applicant CMR rating should be< 5 2.Applicant Leverage ration should be less than 5 3. Applicant financial should be supportive for working capital assessment 4. Applicant TOL/TNW>2.5 times |
Required Documents
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CGTMSE loan application completed accurately including passport-sized photos
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Certificate of Company Registration or Business Incorporation
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Business Project Report
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CGTMSE Loan Coverage Letter
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Copy of loan approval
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Any other documentation the bank asks for.
Eligibility Criteria
All Micro and Small Enterprises (MSEs), both New and Existing.
About Axis Bank CGTSMEy
The CGTMSE scheme was introduced in 2000 and provides credit guarantees to firms offering credit facilities up to Rs. 2 crore. This amount is currently up to Rs. 5 crore. The CGTMSE scheme provides MSEs all over India with credit guarantees ranging from 75% to 85%.
FREQUENTLY ASKED QUESTIONS
Co-financing with Member Lending Institutions (MLIs) is permitted under the scheme, provided that the maximum cover permitted for each beneficiary stays within the allowable level.
Up to 80% of the credit facility they have obtained, capped at a maximum of Rs. 40,00,000, is covered by the guarantee cover for female entrepreneurs.
Under the plan, Axis Bank offers an interest rate of 9–11%.
Although the loans under this program typically don't require collateral, the MLIs may request extra security based on guidelines.
The UAN must be provided by the MLIs when submitting the guarantee cover application to the CGTMSE, per the updated criteria.
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