FAQ’S

A CGTMSE loan is a collateral-free loan offered to Micro and Small Enterprises (MSEs) under the Credit Guarantee Scheme (CGS) of the Government of India. It provides a guarantee cover to banks and financial institutions, allowing them to lend to MSEs without requiring any security or third-party guarantee.

We offer competitive interest rates for our loan facilities. The interest for each loan is
determined based on assessment of your business profile, past track record, financial
records, loan amount required and tenure of loan.

Jessicafincorp, under the CGTMSE scheme, offers loans up to:

• ₹5 crore as a collateral-free loan for eligible MSEs.

No, the CGTMSE scheme is designed to provide collateral-free loans, meaning the borrower does not need to pledge any personal or business assets to secure the loan.

The tenure for CGTMSE loans generally ranges from:

• 12 months to 5 years, depending on the nature of the business and the loan amount.

Interest rates for CGTMSE loans through Jessicafincorp depend on:

• The business’s credit profile, loan amount, and the industry sector. Typically, interest rates range from 9.25% to 12% annually.

• No collateral required: MSEs can access loans without needing to pledge personal or business assets.
• Government guarantee: The loan is backed by a government guarantee, making it easier for small businesses to secure funds.
• Support for startups: CGTMSE loans are ideal for startups and businesses without a significant financial history.
• Simple repayment terms: Flexible repayment options allow businesses to choose a tenure that aligns with their cash flow.

Yes, startups that fall under the definition of Micro and Small Enterprises are eligible to apply for CGTMSE loans, as long as they meet the eligibility criteria.

To apply for a CGTMSE loan with Jessicafincorp, the following documents are typically required:

1. KYC Documents: Identity proof (PAN, Aadhaar, etc.) and address proof.
2. Business Proof: Business registration documents, GST registration, or Udyam registration.
3. Financial Documents: Last 2-3 years of income tax returns (ITR), balance sheet, and profit and loss statements.
4. Project Report/Business Plan: A detailed business plan, especially for new enterprises.
5. Bank Statements: Last 6-12 months of bank statements.

The CGTMSE scheme is open to a wide variety of sectors, including:

• Manufacturing, WholeSalers, and trade sectors.
• However, some sectors like agriculture, self-help groups, and retail trade are excluded from the scheme.