Assam Credit Guarantee Scheme 2023 is a new scheme launched by the government of stands as a testament to the government’s commitment to fostering financial inclusion, supporting entrepreneurship, and driving economic growth. By acting as a catalyst for credit availability, the scheme empowers individuals and businesses to unleash their potential, create employment opportunities, and contribute to the vibrant economic landscape of Assam.
The Assam Credit Guarantee Scheme covers a wide range of sectors, including agriculture manufacturing services and trade ensuring that diverse business activities can benefit from its provisions. Additionally, the scheme caters to various types of credit facilities, such as term loans, working capital loans, and overdrafts, allowing borrowers to meet their specific financial requirements.
Assam Credit Guarantee Scheme 2023
In an endeavor to promote financial inclusion and foster economic growth, the government of Assam, a vibrant state in northeastern India, has implemented the Assam Credit Guarantee Scheme (ACGS). This innovative scheme aims to provide vital support to entrepreneurs, micro, small, and medium-sized enterprises (MSMEs), and budding startups by mitigating the risks associated with securing credit from financial institutions. Under the Yojana government acts as a guarantor for loans extended by banks and financial institutions to eligible borrowers.
This guarantee mitigates the risk for lenders, encouraging them to extend credit to individuals and businesses that may have previously faced difficulties in securing loans due to various constraints. By providing this necessary financial support, the scheme empowers entrepreneurs and MSMEs to realize their full potential and contribute to the economic prosperity of Assam.
Details of Credit Guarantee Scheme Assam
| Name of the article | Assam Credit Guarantee Scheme |
| State | Assam |
| Beneficiaries | Small and medium-sized enterprises in the state |
| Launched by | Government of Assam |
| Aim | To support the Small and medium-sized enterprises of the state |
Objectives Of Assam Credit Guarantee Scheme
The objective of the Assam Credit Guarantee Scheme is to promote and facilitate access to credit for micro, small, and medium enterprises (MSMEs) The scheme aims to address the challenges faced by these enterprises in obtaining collateral-free loans from financial institutions by providing credit guarantees.
Benefits of Assam Credit Guarantee Scheme 2023
The scheme aims to ensure that MSMEs in Assam have easier access to credit facilities from banks and other financial institutions. By providing credit guarantees, it helps to mitigate the risk associated with lending to MSMEs and encourages lenders to extend loans to these enterprises. The scheme seeks to promote entrepreneurship and support the growth of MSMEs in Assam. By removing the requirement of collateral for obtaining loans, it encourages aspiring entrepreneurs to start new ventures and existing MSMEs to expand their operations.
Eligibilty Criteria
- The applicant must be a resident of the state of Assam.
- All micro and small enterprises located in Assam will be eligible to claim credit guarantee through
Required Documents
- Domicile certificate
- Identity certificate
- Loan documents
- Passport sized photo
- Udyam registration details
- Mobile number
Online Application Procedure For Assam Credit Guarantee Scheme 2023
The official website will be lauched soon. Candidates who are willing to apply for this scheme will need wait till the concered authorities lauch the official website. when the website will launch candidates will be able to apply for Assam Credit Guarantee Scheme 2023.