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Procedure for Credit Guarantee Fund Scheme
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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. |