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TN Credit Guarantee Scheme 2023 for MSMEs: Offering Loans up to Rs 40 lakhs

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Summary: Applicant can apply Online for TN Credit Guarantee Scheme 2023, follow the instruction for Online Registration and complete the TN Credit Guarantee Scheme Application Form to Final Submit. Before applying, you must download the notification PDF and read carefully all Eligibility, Features & Benefits of the scheme. You can also check the name in Beneficiary List, Payment/ Amount Status and application status at the official website i.e. WEBS.

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TN Credit Guarantee Scheme 2023

Tamil Nadu Credit Guarantee Scheme (TNCGS) and Tamil Nadu Trade Receivables Discounting System (TN TReDS) for Micro, Small and Medium Enterprises were introduced by Chief Minister M.K. Stalin (MSMEs).

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With the cooperation of the Union government’s Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE), the TNCGS will provide a 90% guarantee for qualifying loans up to 40 lakh. For loans over $40,000 but under $2,000,000, qualified loans will receive an 80% guarantee.

We will provide complete information about “TN Credit Guarantee Scheme (TN Credit Guarantee Scheme) 2023″ like Scheme benefits, Eligibility Criteria, Key Features of the Scheme, Application Status, Application process and more.

छत्तीसगढ़ संचार क्रांति योजना 2023: Overview

Name of SchemeTN Credit Guarantee Scheme
Launched byTamil Nadu state govt
BeneficiariesCitizens of the Tamilnadu
Scheme BenefitOffering Loans up to Rs 40 lakhs
Scheme underState Government
Name of StateTamilnadu
Post CategoryScheme/ Yojana/ Yojna
Official Website

TN Credit Guarantee Scheme 2023: Online Application Form

The Tamilnadu Credit Guarantee Scheme was established by Tamil Nadu’s Chief Minister, MK Stalin, to provide financial aid to the state’s micro, small, and medium-sized business sector. 100 crores of rupees are set out for this programme.

As part of this programme, ERP systems will be created to help MSMEs address challenges with delayed payments or other interruptions from suppliers. Additionally, three banks can provide the loan to MSMEs quickly under the TN Credit Guarantee Scheme (24 hours).

Additionally, according to the government, they received over 10,555 applications, of which 9212 were accepted. This is a guaranteed loan for micro, small, and medium-sized businesses. Entrepreneurs who wish to invest in their firm but lack the funds to do so may use this programme to apply for a loan.

छत्तीसगढ़ संचार क्रांति योजना Eligibility Criteria

Beneficiary Eligibility Criteria:

  • Citizens of the Tamilnadu
  • Must belong to the MSMEs sector in order to avail benefits of the scheme.
  • Must not be a government employee.

छत्तीसगढ़ संचार क्रांति योजना Objective

The government of Tamil Nadu has introduced this programme, which is intended to give loans and other types of finance to MSMEs (micro, small, and medium-sized businesses). In accordance with this plan, a smaller security deposit would be needed in order to approve loan applications from such enterprises. This programme will support the expansion of micro, small, and medium-sized businesses. With the help of this programme, lenders can rest easy in the event that a micro, small, or medium-sized business is unable to pay back the loan.

Benefits & Key Features of TN Credit Guarantee Scheme

  • Chief Minister M.K Stalin has launched Tamil Nadu Credit Guarantee Scheme 2023 on 25 August 2022.
  • TNCGS Scheme aims to support the MSME sector by providing financial aid to micro, small and medium enterprises.
  • Tamil Nadu Credit Guarantee scheme will reduce the need for collateral to get loans for the MSME sector.
  • The State government has made an allocation of ₹100 crore for this scheme.
  • The scheme facilitates generation of end-to-end credit score, taking into account financial parameters beyond the credit “behaviour-based scores”.
  • To promote the development of the micro, small, and medium industrial sectors by making loans up to Rs. 40 lakh available to small-size businesses with a 90% guarantee. Additionally, for loans worth more than Rs 40 lakh but less than Rs 2 crore, qualified borrowers will be given an 80% guarantee.
  • With the aim of strengthening the MSME sector by offering financial assistance, the programme will let new small business owners launch their enterprises without feeling threatened.

How to Apply for TN Credit Guarantee Scheme

The official website for registering to participate in the TN Credit Guarantee Scheme has not yet been made available. The scheme was just just introduced. As soon as a notice is available, you may rely on us to give it to you.

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