Accessing finance can be a significant hurdle for small businesses, especially when they lack the collateral to secure a loan. The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme offers a solution by providing collateral-free loans, backed by government assurance, to empower micro and small enterprises to grow and succeed. BiggPocket is proud to offer CGTMSE loans, enabling businesses to access the funds they need without risking their assets.
CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises)
Purpose
The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme enables credit access for MSEs without the need for collateral or third-party guarantees. BiggPocket facilitates this government-backed initiative to help entrepreneurs secure loans with confidence. The scheme covers working capital and term loans up to a defined limit, empowering businesses to invest in equipment, infrastructure, or expansion plans. Our team guides you through the eligibility and documentation process, ensuring that small businesses can focus on growth while we handle the financing. With CGTMSE, credit risk is minimized for lenders and financial access is maximized for entrepreneurs, making it a win-win for both.
Eligibility
To qualify for a CGTMSE loan through BiggPocket, your business must meet the following criteria:
Business Type: Micro and small enterprises, including new and existing units in the manufacturing, services, and trade sectors.
Business Tenure: Startups and businesses with at least 1 year of operational history are eligible.
Revenue and Creditworthiness: A viable business model and satisfactory creditworthiness are essential for approval.
Loan Purpose: The loan should be used for business-related purposes such as expansion, working capital, or investment in fixed assets.
Limits
CGTMSE loans are available for amounts ranging from INR 1 lakh to INR 2 crores, depending on the business’s financial health and requirements. The scheme provides up to 85% guarantee coverage on the loan amount, reducing the risk for both lenders and borrowers.
How to Apply for a CGTMSE Loan ?
Applying for a CGTMSE loan with BiggPocket is a straightforward process:
Online Application: Begin by filling out our online application form, providing details about your business, financials, and loan requirements.
Document Submission: Submit necessary documents such as business registration, financial statements, and bank account details.
Loan Assessment: Our team will assess your application based on your business’s viability, revenue, and the proposed use of funds.
Approval & Disbursement: Once approved, the loan will be disbursed directly to your business account, allowing you to access the funds quickly and efficiently.
Why Choose BiggPocket for CGTMSE?
No Collateral Required: Secure financing without needing to pledge any assets, making it easier for small businesses to access funds.
Government-Backed Assurance: Benefit from the security of loans backed by the Credit Guarantee Fund Trust, reducing risk for both lenders and borrowers.
Focus on Growth: Use the funds to expand your business, invest in new projects, or enhance operations without the worry of providing collateral.
Tailored for Micro and Small Enterprises: Designed specifically for the unique needs of micro and small enterprises, ensuring accessible and relevant financial support.
Promoting Entrepreneurship: Encourages entrepreneurship by providing a financial safety net, enabling more businesses to thrive and succeed.
Expert Financial Guidance: BiggPocket offers personalized support throughout the loan process, ensuring you understand your options and make informed decisions.
With BiggPocket and CGTMSE, you can access the financial resources you need to grow your business without the burden of collateral, allowing you to focus on what matters most—building and sustaining a successful enterprise.
Business Loans—your path to growth, success, and financial freedom.
