Union Bank Of India CGTMSE

Hello sir will you please provide me detail about the Scheme of Credit guarantee Fund Trust for Micro & Small Enterprises (CGTMSE) of Union Bank Of India?

The Union Bank of India is provides a union cyber loan scheme. According to this service you can avail loan for setting up internet/cyber cafe for purchase of Computers/PCO Equipments, furniture etc. at rural, semi urban and urban centers.

The loan is to be covered under Credit Guarantee Scheme of CGTMSE

All the eligible collateral free loans extended to Micro & Small Enterprises borrowers are covered under Credit Guarantee Scheme of Credit guarantee Fund Trust for Micro & Small Enterprises (CGTMSE)

Eligibility:
Customers Minimum Qualification– Minimum S.S.C. passed

Age:
Age between 18 to 30 years, should possess a certificate having completed a basic computer knowledge course

Women entrepreneurs are given preference

Quantum Of Loan:
Maximum Rs. 3 lac

Margin, I.E. Share:-
20% of Term Loan

At union bank of India CGTMSE cover is not available such as retail trade, educational institutions, SHG/JLGs, collateral security to the extent of min.60% of total credit facility by way of securities like term deposit, NSC, assignment of life policies, mortgage of properties shall be obtained.

In the union bank of India if CGTMSE cover is available, no third party guarantee shall be taken.

__________________
Answered By StudyChaCha Member