Service
Credit Boost Plan (Credit Guarantee Scheme for Startups)
Government Scheme run by scheduled and non scheduled banks recognized by startup india. Open pan-India.
About this Service
Growthora provides comprehensive solutions for Credit Boost Plan (Credit Guarantee Scheme for Startups). We ensure full compliance and seamless execution so you can focus on growing your business.
Key Benefits
- A. Credit Guarantee Coverage:
- a) Up to 85% of the loan amount for loans up to ₹10 crore.
- b) Up to 75% for loans exceeding ₹10 crore, with a maximum guarantee cover per borrower capped at ₹20 crore.
- B. Annual Guarantee Fee (AGF):
- c) 1% per annum for startups in the 27 Champion Sectors.
- d) 2% per annum for startups in other sectors.
Eligibility Criteria
- A. DPIIT Recognition: The startup should be recognized by the Department for Promotion of Industry and Internal Trade.
- B. The startup must not be in default to any lending/investing institution and should not be classified as a Non-Performing Asset (NPA) as per RBI guidelines.
- C. A stable revenue stream should be demonstrated through audited monthly financial statements over the past 12 months.
- D. Any other eligibility conditions as prescribed under the CGSS guidelines
Documents Required
Basic KYC, business registration certificates, and project reports if applicable.
Frequently Asked Questions
What is the timeline for Credit Boost Plan (Credit Guarantee Scheme for Startups)?
The standard timeline depends on government processing, typically ranging from a few days to a few weeks.
What documents are required?
Standard KYC documents (Aadhaar, PAN, Address Proof) and business entity documents are required.
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Credit Boost Plan (Credit Guarantee Scheme for Startups)
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