Credit Guarantee Scheme for Subordinate Debt (CGSSD)
Personal Loans upto INR 75 Lakh to the promoters of stressed MSMEs
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.
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
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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