Good news for loan having must read here

If you want to start a business, the biggest problem is finance. The first way is to get a loan to start the business, but the question is how will the bank lend it? The biggest problem comes when you know what to keep with the bank as a guarantee. Because of this, many people are not able to proceed with starting a business plan. But there is a scheme of the central government, which guarantees the business of people who want business. Although few people know about this scheme, many small businessmen are taking advantage of this scheme. Today, we will tell you about this scheme in detail so that you can easily take loan from the bank rather than keep your business in mind.

What is this scheme

This scheme is run by the Ministry of Micro, Small and Medium Enterprises (MSME), which takes care of the interests of small and middle class businessmen. The MSME Ministry has formed a Credit Guarantee Fund Trust with Small Industries Development Bank (SIDBI). Earlier, the government had guaranteed loans of upto Rs 1 crore to small businessmen, but now Prime Minister Narendra Modi has announced that the Karbarsi will be given a guarantee of up to Rs 2 crore loan. So this is a great opportunity for you.



How will you get a loan

If you are starting a new business or your business, but if you want to increase it then you can get a loan under the credit guarantee scheme. Although you will take loan from the Ministry authorized banks or landing agency, this list includes 21 National Bank, State Bank, 21 Big Private Bank, Four Foreign Banks and 66 Grameen Bank. This means that almost all the banks are included in this list. Under this scheme, the trust is guaranteed from 75% to 85%.

Which businessmen will not get the advantage

Under this scheme, the government guarantees most of the traders, but retail trade, educational institutes, agriculture, self help groups and training institutes have not been included in this scheme. However, micro and small enterprises of manufacturing or service sector are given the benefit of this scheme.

How can apply

If you want to start a business and want to apply loan from the bank. Also, they want you to do something special if the government guarantees you. The bank from which you want to apply for a loan will have to tell the officer in the same bank that you want to take advantage of the government's credit guarantee scheme. After that the responsibility of the bank is made. In fact every year, the banks apply to the government through the district industry center that they need a guaranteed fund under the credit guarantee scheme, which the bank passes on to you.


If a bank is not prepared for it then you can also contact the District Industry Center, from which you will get the information about which bank has a fund and which loan will you get easily from applying to which bank.
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