| PDF Name | Credit Guarantee Scheme for Startups (CGSS) 2024 Guidelines PDF |
|---|---|
| Last Updated | September 5, 2023 |
| No. of Pages | 24 |
| PDF Size | 1.28 MB |
| Language | Hindi |
| Category | Government Schemes, Forms, Policies & Guidelines PDF |
| Topic / Tag | Govt Scheme Guidelines |
| Source(s) / Credits | Sarkari Yojana |
Credit Guarantee Scheme for Startups (CGSS) guidelines available in PDF format at www.ncgtc.in. The broad objective of CGSS is to provide guarantee upto a specified limit against credit instruments extended by Member Institutions (MIs) to finance eligible Startups.
Credit Guarantee Scheme for Startups 2024
Credit Guarantee Scheme for Startups would help provide the much needed collateral free debt funding to Startups. Check who are the eligible borrower and eligible lending / investing institutions under CGSS.
Eligible Borrower under CGSS
The eligibility criteria for an entity to borrow under the Credit Guarantee Scheme for Startups shall be as follows, wherein an entity should be:-
- Startup as recognized by DPIIT as per Gazette Notifications issued from time to time, and
- Startups that have reached stage of stable revenue stream, as assessed from audited monthly statements over a 12 month period, amenable to debt financing, and
- Startup not in default to any lending/investing institution and not classified as Non-Performing Asset as per RBI guidelines, and
- Startup whose eligibility is certified by the member institution for the purpose of guarantee cover.
Eligible Lending / Investing Institutions
The eligibility criteria for the lending/investing institutions under the Credit Guarantee Scheme for Startups shall be as follows:
- Scheduled Commercial Banks and Financial Institutions,
- RBI registered Non-Banking Financial Companies (NBFCs) having a rating of BBB and above as rated by external credit rating agencies accredited by RBI and having minimum networth of Rs. 100 crore. However, it may be noted that in case an NBFC subsequently becomes ineligible, due to a downgrade in the credit rating below BBB, the NBFC shall not be eligible for further guarantee cover till upgradation again to eligible category.
- SEBI registered Alternative Investment Funds (AIFs).