• Small Farmers’ Agri-Business Consortium


    "Society promoted by Department of Agriculture, Cooperation and Farmers Welfare, Ministry of
    Agriculture and Farmers Welfare, Govt. of India"

Home   Procedure for Credit Guarantee Fund Scheme

Procedure for Credit Guarantee Fund Scheme

Eligibility

S.No Eligibility
1 It is a duly registered FPC under Part IX of Company’s Act, 1956
2 It has raised equity from its Members as laid down in its Articles of Association/ Bye Laws.
3 The number of its individual shareholders is not lower than 500.
4 Minimum 33% of its shareholders are small marginal and landless tenant farmers.
5 Maximum shareholding by any one member other than an institutional member is not more that 5% of total equity of the FPC.
6 It has a duly elected Board of Directors (BoD) with a minimum of five members and having adequate representation from farmers and minimum one woman member.
7 It has a duly constituted Management Committee responsible for the business of the FPC.
8 It has a business plan for next 18 months.
9 The Bank ELI has extended/ sanctioned within six months of the date of application or the Guarantee or/ in principle agreed in writing/ has expressed willingness in writing to sanction Term Loan/ Working Capital/ Composite Credit Facility without any collateral security or third party guarantee including personal guarantee of Board Members.
Online Application Form

Checklist

S.No Checklist
1 Application is as per the prescribed format and bear signature with seal of bank.
2 Recommendations with amount of CGC sought on Bank’s letter head with date and dispatch number duly signed by the Branch Manager on each page
3 Sanction letter of Sanctioning authority addressed to the recommending branch.
4 Bank’s approved appraisal/process note bearing signature of sanctioning authority.
5 Potential impact –Social, Environmental, risk analysis report.
6 Promoter’s request letter addressed to the Bank Manager on original letter head of FPC.
7 Implementation schedule confirmed by the Bank.
8 Up to date statement of a/c of TL/CC if already sanctioned.
9 Equity/CA Certificate./ RCS Certificate
10 Form-2, Form-5 and Form-23 filed with RoC for Company / RCS
11 Affidavit of promoters that they have not availed CGC from any other institution for sanctioned Credit Facility.
12 Field inspection report of Bank Official as on recent date.