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Objective
- To enhance the credit availabiltiy to MSMEs by providing loans up to a certain limit without any surety or security.
Key Benefits
- An MSME in the manufacturing sector can digitally get a government-guaranteed loan upto INR 2 crores on the state government’s online portal. In the pilot, the loan is restricted to INR 40 lakh.
- They can avail loans from multiple banks which are on the portal, In the pilot, we start with TIIC and TAICO bank.
- The government will cover 90% of the loan if it is upto INR 40 lakh and 80% of the loan, if the loan is upto INR 2 crores.
- Once an MSME gets a loan under TNCGS, it will obtain a credit score which will help it to get loans easily in the future.
Eligibility Criteria
- The applicant should be any manufacturing MSME in the state.
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