Comments on: CGTMSE – Collateral Free Loan Scheme

By: Babu Iyer

Babu Iyer — Mon, 05 Dec 2011 20:15:29 +0000

I read all queries here, I am also applying for cgtmse. First please understand that bank managers are the masters to say no first. We entrepreneurs taking risk by putting our life but bank managers are worried for their pension. We corporates need to pay 33% income tax of our net income, it means we have all the right to ask the money offered by government of india. Those who are applying please please dont ask casually, fill the application and give to bank manager and ask aknowledgement with date and seal. If you are feeling that he wont give acknowledgement send the applciation by registered post then neither he has to accept or reject within specified time. And if that is PSU bank later you can ask the status of application Under RTI act. Dont allow the managers to decide what our future

By: satyanarayana majji

satyanarayana majji — Sun, 04 Dec 2011 13:44:40 +0000

Dear Sir,
Your CGTMSE Service is very Excelently providing to the people who is looking For.
Like that to me Also provide me such schems ThanQ……………..

By: Vishwanath Margale

Vishwanath Margale — Fri, 25 Nov 2011 16:25:19 +0000

We are foundry people having good induction Furnace 500Kg set up in house facility for finish castings. we are with SBI Commercial Br, are facing financial crunch. Due to investment for the modernization of Furnace presently no working capital in hand and in Bank due to over drawings of 15 lacs bank is not helping as the Account renewal in s pending. We are loosing lot of good orders in hand due delay as financial matters. What could be the remedy to overcome this problem.

By: Prayank Raj Sinh

Prayank Raj Sinh — Sat, 19 Nov 2011 18:45:58 +0000

Dear Mr S. Gopalan,

My Query in regards to this context, That what if I require loan upto 5 core’s Is there is any scheme as CGTMSE or It can be covered under CGTMSE Scheme, One More Thing Is Central Govt going to Raise funding amount to the max. 2 Cr., Whats your take on this………..Again Your Article is Really helpful and I hope your advice also come handy to me.

Regards,

Prayank Raj Sinh

By: Srikanth Gopalan

Srikanth Gopalan — Fri, 18 Nov 2011 14:40:29 +0000

@Shabeer M I am afraid it is not practically possible

@Lakshmikanth – CGTMSE is predominantly Manufacturing Industry Driven since they expect real Business Assets as security

@rehan – Lot of factors such as end use of money future cash flow etc come in to play. On enhanced loan you may have to pay an interest and CGTMSE charges of Rs.4.50 lacs This means you should be in a position to establish Rs.8 lacs profit on paper before interest and depreciation. Do that and file an official application. Read this blog entry. It’ll answer your doubts http://smbenablers.com/blog/2011/09/12/how-can-you-get-a-loan-under-cgtmse-scheme/

@Deepak = we had a chat over phone Have we?

By: Shabeer M

Shabeer M — Tue, 15 Nov 2011 12:42:01 +0000

Whether an Industrial Co-operative Society can avail an industrial loan from a nationalised bank under CGTMSE?

By: rehan

rehan — Thu, 10 Nov 2011 20:22:36 +0000

Dear Srikanth,

Greetings,
I like to take your advice in my financial matter. I am an registered SME having a loan 4,50,000 under CGTMSE scheme. I am in need of money round 20,00,000. My Latest I.T.R is 1,80,000. I have everything like SSI registration,Tin No.,Audited Balance sheet, good a/c turnover etc. but inspite of having everything the bank manager neither refusing nor accepting application. he is delaying . my Q is that am I eligible for Rs. 20,00,000 limit and what should I do? Should I complain if yes to whom?

By: lakshmikanth

lakshmikanth — Mon, 31 Oct 2011 08:47:20 +0000

sir, i have medicinal plants nursery in bangalore and i interest in cgtsme loan pls help me sir mobile 906040083

By: rahul agarwal

rahul agarwal — Sun, 23 Oct 2011 05:10:04 +0000

dear sir
i am asking for a loan of 33 lakhs from ubi. the bank is asking the land on which i have to install my machines, which i have taken under lease from my father and then only the bank shall process my loan under cgtmse. is it mandatory for my father to garuantee the land for cgtmse? will it mot be a loan under collateral security? please help.

By: Deepak Kumar

Deepak Kumar — Tue, 27 Sep 2011 19:18:45 +0000

Hi,

My company is a small unit does job work for BHEL running from 1988. we have a cc account of 3lacs. No term loan. I dont need any furthur loan also but can I switch to this CGTMSE scheme so that I will not be asked too much questions frm bank regarding documents …