{"id":4124,"date":"2018-05-18T15:32:07","date_gmt":"2018-05-18T10:02:07","guid":{"rendered":"https:\/\/www.antworksmoney.com\/blog\/?page_id=4124"},"modified":"2019-09-25T12:27:43","modified_gmt":"2019-09-25T06:57:43","slug":"collateral-free-loans","status":"publish","type":"post","link":"https:\/\/www.antworksmoney.com\/blog\/collateral-free-loans\/","title":{"rendered":"Collateral Free Loans"},"content":{"rendered":"<p><strong>Collateral free loans,<\/strong>\u00a0in general, imply any loan that is disbursed without a supporting collateral or security to limit the lender\u2019s exposure to risk. A special type of collateral free loan scheme is available in India under the Credit Guarantee Fund Trust Scheme for Micro &amp; Small Enterprises (CGTMSE). Under this scheme, the micro and small enterprises (MSEs) are eligible for collateral free loans up to Rs.1. crore in value.<\/p>\n<h2>Features of Collateral Free Loans<\/h2>\n<p>These loans are packed with features, such as:<\/p>\n<ul>\n<li>Loans available up to Rs.1. crore for MSEs as per the terms of the MSMED Act, 2006.<\/li>\n<li>Loan can be availed by both existing and new MSEs.<\/li>\n<li>Higher loan amounts are available on a case-to-case basis. Upper amounts generally attract collateral, though at a lower percentage as compared to the general loan products.<\/li>\n<li>Working capital assistance or\u00a0Term Loan\u00a0is available.<\/li>\n<li>Margin of 75%, 80% or 85% as per the category of applicant.<\/li>\n<\/ul>\n<h2>Benefits of Collateral Free Loans<\/h2>\n<div class=\"pull-right top-pad btm-pad tax-img-responsive\"><\/div>\n<p>Collateral free loans are highly beneficial for people who don\u2019t have collaterals to show against a loan. Major benefits include:<\/p>\n<ul>\n<li>No collateral or third party guarantee needed.<\/li>\n<li>Attractive and subsidised rate of interest.<\/li>\n<li>Flexible repayment tenures up to 5 years.<\/li>\n<li>Letter of credit\/bill discounting up to 180 days.<\/li>\n<li>No track record requirement.<\/li>\n<li>Product development funding.<\/li>\n<li>Moratorium period on repayment.<\/li>\n<li>Quick and hassle free processing of applications, largely due to a special cell taking charge of these requests.<\/li>\n<\/ul>\n<h2>Eligibility for availing Collateral Free Loans<\/h2>\n<p>There are few requirements for availing these loans, such as:<\/p>\n<ul>\n<li>Private limited companies with SME\/SSI registration can apply.<\/li>\n<li>Product development expenses, procurement of computers, tools machinery etc.<\/li>\n<li>Share allotment proof.<\/li>\n<li>Share purchase agreement.<\/li>\n<\/ul>\n<h2>Major Banks offering Collateral Free Loans<\/h2>\n<p><u>Collateral free loans<\/u>\u00a0can be availed from major banks in India including but not limited to:<\/p>\n<ul>\n<li>Axis Bank<\/li>\n<li>Bank of Baroda<\/li>\n<li>Fullerton India\u2019<\/li>\n<li>UCO Bank<\/li>\n<li>State Bank of India<\/li>\n<li>State Bank of Hyderabad<\/li>\n<li>ICICI Bank<\/li>\n<li>HDFC Bank<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/www.antworksmoney.com\">antworksmoney<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Collateral free loans,\u00a0in general, imply any loan that is disbursed without a supporting collateral or security to limit the lender\u2019s exposure to risk. A special type of collateral free loan scheme is available in India under the Credit Guarantee Fund Trust Scheme for Micro &amp; Small Enterprises (CGTMSE). Under this scheme, the micro and small &hellip; <a href=\"https:\/\/www.antworksmoney.com\/blog\/collateral-free-loans\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Collateral Free Loans&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-4124","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Collateral Free Loans - Antworks Money<\/title>\r\n<meta name=\"description\" content=\"Collateral free loans,\u00a0in general, imply any loan that is disbursed without a supporting collateral or security to limit the lender\u2019s...\" \/>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.antworksmoney.com\/blog\/collateral-free-loans\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Collateral Free Loans - 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