( Assam Credit Guarantee Scheme Apply Online 2023 | Eligibility Criteria | What is | How to Apply for ACGS | Benefits and Features | Documents | Objective | Official Website | Helpline Number )
What is Assam Credit Guarantee Scheme 2023: For Boosting in the MSME Sector, State Government launched recently a new scheme called Assam Credit Guarantee Scheme. Which will provide 100% Credit Guarantee for the The Micro and Small Enterprises (MSEs). If you also want to get a loan on behalf of the state government than you can use the ACGS Scheme. Today through analyzing this article you will get a proper information about the scheme.
(ACGS) Assam Credit Guarantee Scheme Details 2023
Friends, Recently CM Himanta Biswa Sarma shared the information of the Assam Credit Guarantee Scheme on their Twitter account and said that this ACGS Scheme effective from the 1st, April, 2023. If any MLIs (Member Lending Institutions) want to get a loan for their business than Both Assam state government and CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises) will provide them a credit guarantee of 100%.
Friends, CGTMSE provides you up to 75-85% of credit guarantee while remaining 25-15% Credit Guarantee will be given by the Assam State Government. State Government said that this is dependent on the category of the borrowers. In total through using Assam Credit Guarantee Scheme borrowers can avail Credit Guarantee up to 100%.
Quick Look – ACGS Scheme 2023
| 🟠 Scheme Name | 🟢 Assam Credit Guarantee Scheme |
| 🟠 Launched By | 🟢 CGTMSE and Assam State Government |
| 🟠 Launched On | 🟢 10th June, 2023 |
| 🟠 Effective From | 🟢 1st April, 2023 |
| 🟠 Beneficiaries | 🟢 MSEs |
| 🟠 Credit Guarantee Provided | 🟢 100% |
| 🟠 Share of CGTMSE | 🟢 75-85% |
| 🟠 Share of State Govt | 🟢 15-25% |
| 🟠 Official Website | 🟢 – |
| 🟠 To join our Telegram Channel | 🟢 Click Here |
Assam Credit Guarantee Scheme Objective
One of the main objective to Starting ACGS is to provide credit guarantee to the Micro and Small Enterprises of the state. That’s why they can help to boost economy of the state. Through availing this Credit Guarantee Scheme borrowers can apply for the Bank Loan on the Credit Guarantee of State government and CGTMSE both. They will provide 100% guarantee to the applicant.
Assam Govt and @CGTMSEOfficial have launched the Assam Credit Guarantee Scheme that will securitise lending for medium and small businesses in the State.
— Chief Minister Assam (@CMOfficeAssam) June 9, 2023
We hope this initiative will inject capital and nurture our entrepreneurs.@MeNarayanRane @minmsme @sidbiofficial pic.twitter.com/0ko1edQuk4
Benefits and Features of Credit Guarantee Scheme in Assam (ACGS)
- Assam Credit Guarantee Scheme will provide benefits to the Micro and Small Enterprises of the Assam State.
- This scheme will be beneficial in terms of providing credit guarantee.
- Through getting the benefits of the scheme borrowers can apply for the loan on the guarantee of CGTMSE and Assam Government.
- Both provide you 100% Credit Guarantee it will contribute as follows.
- 75-85% of CGTMSE
- 15-25% of Assam State Govt.
- Member lending institutions will be settled claims maximum up to 10% NPA Level of the crystallized portfolio.
- Whenever NPA Level will be exceed to 10% CGTMSE will provide you 75-85% of credit guarantee.
- Assam Credit Guarantee Scheme (ACGS) is the way to meet financial need for the Micro and Small Enterprises.
ACGS Scheme Eligibility & Documents
- Only Resident of Assam will be eligible for this scheme.
- All Micro and Small Enterprises located in Assam will be eligible to claim Credit Guarantee through ACGS Scheme.
- Credit Guarantee Scheme – I and II rules also be applied.
- Assam State government notify that their share of Guarantee (15-25%) is dependent on category of the borrowers.
- Domicile Certificate
- Identity Proof
- Loan Documents
- Passport Size Photograph of the Owners
- Mobile Number
- Enterprise Registration Details
How to Apply for Assam Credit Guarantee Scheme (Apply Online)
Those who want to avail the benefits of Credit Guarantee will have to wait a little bit. Because state government launched this Scheme recently. Whenever state government release any notification regarding how to can avail the benefits of the Credit Guarantee Scheme than we will update this article for you. For getting fast update you can join our Telegram Channel.
What is Assam Credit Guarantee Scheme?
Thia scheme will be notified by the CGTMSE and Assam State Government. Under this scheme both are providing financial credit guarantees to the Micro and Small Enterprises (MSEs). That’s why they can invest more in their business and earn more. Because state government very much know that when small businesses will grow high than and than state economy will boost.
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- Mukhyamantri Swa Niyojan Mission
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FAQs: ACGS – Assam Credit Guarantee Scheme
Que: Who launched Assam Credit Guarantee Scheme?
Ans: CM Himanta Biswa Sarma
Que: When ACGS has been effective in the Assam?
Ans: From 1st April, 2023.
Que: How much credit guarantee you will get through Assam Credit Guarantee Scheme?
Ans: 100% (75-85% from CGTMSE and remaining from the Assam State Government).