Recently Government of India has modified Credit Guarantee Schemes in a very favorable way for the businesses in India. Under the new guidelines which came into effect from 1st April 2023, the businessmen in India can avail the Collateral Free Loans Up to 5 Crores, where in, the Government will give guarantee to cover 75% of loss of Bank, in case for any reason the Loan becomes a Bad Loan or an NPA.
This is a very good move by Government of India. Because of this scheme, lot of businesses in India, who have good knowledge and skills but were not able to get loans from the Banks, will now be able to get the loan, because the bank's risk of recovery of loan in case of default reduces significantly.
Not only that, the Guarantee Premium has also been reduced drastically to make it more viable for the businesses to run the loans.
Additionally, all the three types of industries are included in this scheme, that is : Manufacturing, Service Industry and Trading. Even in Trading business, retailers, wholesellers and distributors all are now covered.
We are a professional CA Firm with in depth knowledge and successful track record of delivering the collateral free loans. Here are our key USPs:
We can get you the funding solution for your business in following 5 ways
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