Credit Enhancement Guarantee Scheme For The Scheduled Castes
in Nagaland
Last updated:
Key dates and updates (Nagaland)
Nationwide and Nagaland-specific milestones. Verify on the official portal before you apply.
| Milestone | Date |
|---|---|
| Scheme launch |
Credit Enhancement Guarantee Scheme For The Scheduled Castes in Nagaland
Credit Enhancement Guarantee Scheme For The Scheduled Castes is a government scheme available to eligible residents of Nagaland.
Apply for Credit Enhancement Guarantee Scheme For The Scheduled Castes in Nagaland
Scheme Overview
a loan scheme by the Ministry of Social justice and Empowerment for Entrepreneurs of Scheduled Caste Category.
Eligibility Criteria
Enterprises, projects/units being set up, promoted and run by Scheduled castes in primary, manufacturing and services sector ensuring asset creation out of the funds deployed in the unit, under any State/Central Government Subsidy/Grant Scheme shall be considered;
Registered Companies and Societies/Registered Partnership Firms/Sole Proprietorship firms/Individual SC Entrepreneur having more than 51% shareholding by Scheduled Caste entrepreneurs/promoters/members with management control for the past 6 months;
Credit Guarantee would be extended to startup SC Entrepreneur.
Individual SC Entrepreneur would be eligible for a guarantee cover of a loan amount of upto Rs. 1.00 crore.
Documentary proofs of being SC will have to be mandatorily submitted by the entrepreneurs/promoters/partners/society members/sole proprietorship firms/individual SC Entrepreneurat the time of submitting the proposals
The Scheduled Caste promoter(s)/Partners/Society members shall not dilute their stake below 51% in the company/enterprise during the currency of the Loan.
To be eligible for Guarantee Cover under the Scheme, the banks / FIs/ MLI‟s shall submit to IFCI a copy of the valid sanction letters/LoI issued to Scheduled Caste beneficiary/enterprise/company/firm/society/sole proprietorship firms/individuals. In order to save time, the information may also be submitted online on the web portal of CEGSSC. The indicative Appraisal Format and Due Diligence Module are provided in the Scheme as Annexure-III and Annexure-IV in the scheme guidelines respectively for facilitation. However, the MLIs who have already developed their own formats and modules are free to use their own appraisal formats/modules.
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Benefits
Minimum Rs.0.15 crore and maximum Rs.5.00 crore.
Individual SC Entrepreneur would be eligible for a guarantee cover of a loan amount of upto Rs. 1.00 crore.
Maximum 7 years or repayment period whichever is earlier. However, initially the loan shall be guaranteed for 1 year and renewed at yearly intervals subject to payment of annual renewal fee and satisfactory loan conduct and satisfactory loan review certification by MLIs at the time of renewal.
IIn case of satisfactory track record and post liquidation of the First facility under the scheme, the benefits of Guarantee under the scheme may be extended to such SC Entrepreneurs/Enterprises for repeat finance, in order to incentivize and inculcate healthy credit culture amongst the ultimate beneficiaries.
How to Apply in Nagaland
Enter the details of the Enterprise details and other mandatory fields Enter the details of the Borrower details and other mandatory fields. The applicant will fill Loan and Bank details and other mandatory fields. Save and Upload the requested do…
Online — https://www.ifcicegssc.in/InterestedApplications/Create#NoBack Enter the details of the Enterprise details and other mandatory fields Enter the details of the Borrower details and other mandatory fields. The applicant will fill Loan and Bank details and other mandatory fields. Save and Upload the requested documents Submit the document
Common questions in Nagaland
Who can apply for Credit Enhancement Guarantee Scheme For The Scheduled Castes in Nagaland?
Eligible residents of Nagaland who meet the scheme’s overall criteria can apply for Credit Enhancement Guarantee Scheme For The Scheduled Castes. Refer to the eligibility section above for the complete checklist.
What documents are required for Credit Enhancement Guarantee Scheme For The Scheduled Castes in Nagaland?
Applicants in Nagaland typically need identity proof (Aadhaar), state residency proof, bank account details, and any scheme-specific documents listed in the documents section.
What are the important dates for Credit Enhancement Guarantee Scheme For The Scheduled Castes?
Key dates are summarized in the table on this page, from 18 July 2014 through 18 July 2014, based on values DeshSeva currently stores for this item.
Frequently Asked Questions
The borrower engaged in Primary/Manufacturing/Service sector may be considered for financial assistance by MLIs.