The Government of Goa on January 11, 2024, issued the Goa Credit Guarantee Scheme (GCGS)/Mukhyamantri Saral Udyog Sahayya Yojana (MSUSY) to facilitate an increase in credit off-take in the Micro and Small Enterprise (MSE) sector, to reduce risk of lending institutions and encourage providing credit facilities to MSE and also the collateral free credit for MSE will enhance the employment generation in the State.
The following eligibility has been stated:
• Micro and Small Enterprises having their units in Goa have Udyam registration.
• Micro and Small Enterprises operating in the State of Goa and availing collateral free loans from Member Lending Institutions.
• All Lending Institutions (Existing Member Lending Institutions of CGTMSE) will be eligible for coverage under this scheme or lending institution as empanelled by the Government of Goa.
Under the scheme, 75%-85% of the guarantee coverage for a credit facility will be provided by CGTMSE as hitherto depending upon the category of the borrower and the balance 10%-20% coverage shall be provided by the Government of Goa, taking the overall guarantee coverage to 95%.
The applicability of the scheme would be for the fresh and/or existing credit facility sanctioned to MSEs initially not covered under CGTMSE or any other such scheme up to maximum limit of Rs. 500 lakhs.
The government of Goa shall pledge the initial corpus of Rs. 10.00 crores with CGTMSE Trust for implementation of the GCGS-MSUSY scheme in the State of Goa. Further, the Government by notification may extend the validity of the scheme or pledge fresh corpus for continuation of the scheme till the date of validity.
[Notification No. 14/7/2023-IND/03]
