Secured Term Loan Against Collateral

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Product Description

A Credit Guarantee Scheme (CGS) loan is a financial support program designed to help small and medium enterprises (SMEs) access credit without needing to provide extensive collateral. Under this scheme, the government or a designated institution provides a guarantee to the lender, covering a significant portion of the loan in case of default. This reduces the risk for banks and financial institutions, encouraging them to lend to businesses that may not have sufficient assets. The scheme aims to promote entrepreneurship and economic growth by making credit more accessible to underserved sectors.