हायलाइट्स
- Under the Credit Guarantee scheme for Startups, the beneficiary may avail the following benefits.
- You will get credit guarantee against your loan from Member of Institutions.
- Avail of a collateral free credit or loan.
- Maximum guarantee cover under the scheme is 10 Cr or your outstanding credit amount, whichever is lower.
संकेतस्थळ
Customer Care
- Credit Guarantee Scheme for Startups Helpline: 1-800-115-565
- Credit Guarantee Scheme for Startups Helpdesk: startup@ncgtc.in
Overview of the Scheme
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|
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Name of the Scheme | Credit Guarantee Scheme for Startups |
Launch Year | 2022 |
Benefits | Hassle and Collateral Free Credit or Loans |
Beneficiary | DPIIT Register Startups |
Nodal Department | Ministry of Commerce and Industry |
Subscription | Subscribe here to get Update Regarding Scheme |
Mode of Apply |
Applicants may register for DIPP Recognition Online Application process for Start-up Credit Guarantee Scheme is offline |
Introduction
- After US and China, India stands as the third largest hub for startup globally.
- According to the DPIIT, there are currently 123,073 DPIIT recognised startup operational in India.
- Remarkably, around 48% of these startups are from Tier 2 and Tier 3 cities.
- However, despite the burgeoning startups ecosystem, many start-ups failed to sustained because of the financial crunch.
- Recognising this issue, the government has taken some proactive steps to support the startup body.
- In view to, the government announced the Credit Guarantee Scheme for Startups in 2022.
- Under this scheme, the beneficiary will get a credit guarantee up to specified limit against the loan issued by the Scheduled Banks, NBFCs etc.
- Along with this, they will get a collateral free credit or loan from the institutions.
- For individuals, the maximum guarantee is capped at 10 Cr or the actual credit amount, whichever is less.
- The guarantee offering under the scheme would be transaction based and umbrella based.
- On a single borrower basis, the Transaction Based Guarantee is provided to Member of Institution (As of 2024, there are 31 registered MIs).
- Whereas, Umbrella Based Guarantee offers guarantee to Venture Based Funds (VDF) registered under the AIF Regulation of SEBI.
Benefits of Scheme
- The foremost benefit of the Credit Guarantee Scheme for Startups (CGSS) is they are offering Credit guarantee against your loan.
- Secondly, beneficiary will get a collateral free credit or loan from the MIs.
- Individual will receive a maximum credit guarantee of Rs 10 Cr or their actual outstanding credit amount, whichever is lower.
- Guarantee offers under the CGSS is transaction based or Umbrella Based.
Scheme Type | Default Cover Offered |
Transaction Based Guarantee |
80% if Loan amount is 3 Cr. 75% if the loan amount is above 3 Cr. 65% if the loan amount is above 5 Cr (up to 10 Cr). |
Umbrella Based Guarantee | Actual loss or 5% of the pooled investment, whichever is lower (maximum 10 Cr per borrower). |
Eligibility Criteria
- To borrow Credit Guarantee under the CGSS have some specific criteria for startups, that are as follows:
- Startups must be registered and recognised by the DPIIT.
- For this, the company age or its operation should not exceed 10 years.
- Company must be incorporated as a Private limited or Registered partnership firm or Limited Liability Partnership.
- Since Inception, the Annual turnover of the company should not exceed Rs 100 Cr.
- Innovation and scalability are two prime aspects of the company which may generate wealth and employment.
- Ensure the company should not have any connection to splitting or reconstruction of any existing business.
- As per the RBI Guidelines, Startups must not be defaulted by any institution and labelled as Non Performing Asset.
- The Member of Institution certifies the eligibility for guarantee cover of the startup.
- Must have generated a stable revenue over the last 12 months.
- Scheduled bank and NBFCs must have a rating of BBB and above.
- Startups must be registered and recognised by the DPIIT.
Documents Required
- Applicants must submit the documents in support of their Credit Guarantee Scheme for Startups application as required by the Member of Institution.
- PAN Card
- Company Registration Certificate
- Revenue Details
- Voter ID
- Aadhaar Card
- Passport Size Photograph
- Residence Proof
- Company Address Proof
- DIPP Recognition Certificate
- As required by the Member of Institution.
How to apply
- As the Guarantee is offered by the Registered MIs to eligible startups that are recognised by the DIPP.
- If your startup is not DIPP recognised then you have to recognised it first.
- For that, you have to create an investor account, if you don't have already.
- You can create your investor account by visiting the National Single Window System Website.
- Post Registration, login to the portal with the generated details.
- Thereafter, you can fill the 'Registration as a Startup' Application form with the required details.
- Once your startup get recognition on DIPP, then you can apply for a credit or loan offline from the Member of Institution that are on the NCGTC panel.
- As of 16 Feb, 2024, there are 31 MIs registered whose details are given as
Institutions Type | Name of the institution |
Public Sector Bank |
Bank of Baroda Bank of India Bank of Maharashtra Canara Bank Central Bank of India Indian Bank Punjab & Sind Bank Punjab National Bank State Bank of India UCO Bank Union Bank of India |
Private Banks |
Axis Bank HDFC Bank IDFC First Bank IDBI Bank Karnataka Bank Tamiland Mercantile Bank Karur Vysya Bank Yes Bank |
Foreign Bank | Standard Chartered Bank |
Small Finance Bank | AU Small Finance Bank Limited |
AIFs | RevX Capital Fund-I |
Financial Institutions |
SIDBI EXIM Bank |
NBFCs |
Caspian Impact Investments Private Limited Incred Financial Services Limited Samunnati Financial Intermediations & Services Private Limited |
Important Link
- Startups India Website
- Credit Guarantee Scheme for Startups Investor Registration
- Credit Guarantee Scheme for Startups Investor Login
- Credit Guarantee Scheme for Startups DIPP Recognition Certificate
Contact Details
- Credit Guarantee Scheme for Startups Helpline: 1-800-115-565
- Credit Guarantee Scheme for Startups Helpdesk: startup@ncgtc.in
- INVEST INDIA, 110, Vigyan Bhavan Annexe, 001, Maulana Azad Road, New Delhi 110 001
Ministry
Scheme Forum
Person Type | योजना प्रकार | Govt |
---|---|---|
क्षेत्रासाठी जुळणाऱ्या योजना: व्यवसाय
Sno | CM | Scheme | Govt |
---|---|---|---|
1 | Prime Minister's Employment Generation Programme | केंद्र सरकार |
क्षेत्रासाठी जुळणाऱ्या योजना: कर्ज
Sno | CM | Scheme | Govt |
---|---|---|---|
1 | Pradhan Mantri Mudra Yojana (PMMY) | केंद्र सरकार | |
2 | Divyangjan Swavalamban Scheme | केंद्र सरकार | |
3 | JanSamarth Portal National Portal for Credit Linked Government Scheme | केंद्र सरकार | |
4 | PM SVANidhi Scheme | केंद्र सरकार | |
5 | पीएम विश्वकर्मा योजना | केंद्र सरकार | |
6 | PM Vidyalaxmi Scheme | केंद्र सरकार |
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Comments
Start-up yojana Labh
Meri corona me business kharaab ho gaya hai kripya dubara start karna chahta hu help me
नवी प्रतिक्रिया द्या