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Credit Guarantee Scheme for Subordinate Debt (CGSSD)

Personal Loans upto INR 75 Lakh to the promoters of stressed MSMEs

Business Banking

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Scheme to provide personal loan upto INR 75 Lakhs to the promoters of stressed MSMEs for infusion as equity /quasi equity in the business eligible for restructuring.

  • Eligibility :-

    • MSME Customers which are stressed –SMA 2 and NPA accounts on 30th April 20 and commercially viable as per assessment.

    • MSME accounts have to be  standard as on 31st March 2018 and have been regular in operations either as standard or as NPA accounts during FY 2018-2019 and FY 2019-2020

  • Credit limit :- 15% of promoters equity plus debt or INR 75 Lakh whichever is less

  • Tenor:- Loan will be for a period of max 10 years with moratorium of 7 years

  • Security :- Only second charge on existing securities with the Bank

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Documents Required

  • Completely Filled MSME Application Form

  • Last 3 year Financial Statement including latest 2 years Audited Statements along with all schedules

  • Financial Projection for 2 years

  • Income Tax Returns along with computation of Income at least for last 2 years of the Applicant/Co-Applicant/Guarantor

  • GST Returns for Current Financial Year.

  • Statement of Accounts for Last 6 months-for all CC/OD/Current Account.

  • Repayment Track Statement from Starting to Till Date OR First and Latest Sanction Letter with last 6 months Repayment Track Statement

  • Proof of Vintage e.g. Shop establishment , Pollution license, etc

  • KYC documents of Applicant/Co-Applicant/Promoters/Guarantor

  • Property Documents offered as Security

  • Self-Certified/CA certified Net worth statement of the Applicant/Co-Applicant/Promoters/Guarantor

  • Sanction letter of the all Major existing working capital facilities availed by the firm

  • Key group company's latest Audited Financials, along with details of Bank borrowings if any

  • Order in Hand and Important Agreement if any

* All Documents must be self-attested
** These are only indicative and not exhaustive list of Documents.

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