Collateral free credit upto 1 crore for MSME (Micro, Small, Medium Enterprises)

[Suresh Sambandam]

Check this out:

http://www.cgtmse.in/

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[Srikanth]

This scheme is fairly easy to get for existing Micro and small businesses if certain conditions are met.

1) Always approach your existing banker. Nationalised banks are quite open for this scheme.
2) If you have an existing loan with good conduct AND without collateral, enhancement can be easily fitted into this scheme. If you have a loan with collateral, enhancement is not normally possible under this scheme. However, if you have a collateralled working capital loan, a new term loan under CGTMSE scheme is possible.
3) Prior conduct of the account - No cheque bouncing, timely submission of Stock statement, QOS and renewal application. This is pretty much non negotiable.
4) In case of start ups, if the business model is time tested, bankers would be willing to fit it under the scheme. Make sure, you have some verifiable firm enquiries, if not commitments.
5) Your proposal should almost always contain the following
a) Have a clear and well defined marketing plan and attach your MarCom materials (If they are not ready, their blue print) along with your loan papers and projection. This is not a requirement and that's precisely why you should do it.
b) Add a relevant case study
c) A sheet of paper titled "Frequently Asked Questions" from the banker's perspective.
d) Always present your projections in CMA format.
e) Include Sensitivity Analysis in projections. Bankers love it.
f) Prepare a well made Project finance document replete with graphs, ratio analysis, working details and a good write up on the business process. Sample project finance document can be downloaded here,
g) Leave some blank sheets in your spiral bound proposals in some strategic places with this header and footer. "Deliberately left blank for taking notes". In my experience, nothing grabs attention more than this.
6) Even before starting to make the documents in 5 above. prepare a honest business plan to see if your idea is going to work. Main reason for start up failure is what I call "Somehow make it work syndrome". If you don't fall a prey to it, half the battle is won.

Best wishes.

Note: If you think this reply is a waste of electrons, blame it on the spammer who brought this topic to my attention!

[LAKSHMANA KUMAR]

Dear Sir,

The undersigned is an Engineer with MBA and worked for a leading companies at Senior Level .

With my 20 + years Experience , I have a proven project which will generate a revenue of 50 Cr in five years and creates an employment opportunity for 1000 and also will become a window for small shops and freelances with very nominal investment .

Project :

Sales and marketing Solar and renewable energy domestic products and other small home appliances through various channels like Direct Marketing and other Channels .

Objective of this project is to create a window for a new entrepreneurs and also create an employment opportunity for 150 during first year of operations .

The project starts operational profits after 120 days and break even after 1 year .

With the proper and timely financial support , this project will touch 100 Cr top line with a decent bottom line in 5 years time and creates employment opportunities for 1000 . Also , this will help to increase daily income of 5000 small shop owners and freelancers.

This project requires an initial investment of Rs 30.00 Lacs max and will starts from 61st day.

I can work for an NGO for the above project or any institution interested to support I would like to start on my own .

I Request you to suggest right investor to move forward. .


With best regards


VTS Lakshmana Kumar
[e-mail]
Mob : 9677009871 / 24797498

[m.muthu irulandi]

banks will be reluctant to lend loan under this scheme.without collateral no chance. i am having good rapport with my bank. i know their procedures, their way of thinking,they will easily dodge you.i want to avail this scheme pls give some tips.

[Srikanth]

I hate to do this. But, I recently got a CGTMSE credit of Rs.75 lacs for a client of mine. Managers don't propagate it for obvious reasons. Based on my experience I have written a blog here. It enlists parameters under which collateral free credit can be obtained. If you think you fall within this, you might want to contact your auditors. Documentation and prior conduct are the keys.

Just to be clear, I don't take up CGTMSE fund raising as a milestone based service. I do it only for my clients. From professional stand point, its safe that way!