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Let us look at the eligibility criteria for CGTMSE scheme for credit providers and credit borrowers.
All scheduled commercial banks and specified regional rural banks including NSIC, NEFDi, and SIDBI can be considered as eligible lending institutions. The institutions that enter into an agreement with CGTMSE are called Member Lending Institutions (MLIs).
All new and existing micro and small enterprises are eligible for this credit guarantee under certain conditions. The conditions are:
Small and micro enterprises owned and/or operated by women are eligible for a guarantee cover of 80% whereas all the credit / loans in the North East Region (NER) for credit facilities are eligible for a guarantee of Rs. 50 lakhs. Retail trade, educational institutions, agriculture, training institutions, and self-help groups (SHGs) are not eligible for guarantee cover under CGTMSE.
CGTMSE also provides rehabilitation assistance to the business units. If a business unit is in a bad condition due to factors that are beyond the control of the management, then CGTMSE covers the loan for rehabilitation extended by the lender within the credit cap of Rs. 100 lakhs (Rs. 1 crore).
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