ENA State 2022-05-20 06:27:06 <p><strong>Chennai, May 20 (KNN)</strong> Tamil Nadus Micro, Small and Medium Enterprises (MSME) department has said that the Rs 100 crore Tamil Nadu Credit Guarantee Scheme (TNCGS) will be rolled out by August-end or September, as per media reports. </p> <p>The scheme was announced during the state budget for the financial 2022-23.</p> <p><strong><a href="https://news.google.com/publications/CAAqBwgKMJSHqwswkZLDAw/sections/CAQifkNCSVNXRG9pWjJGeVlXMXZibVJmY0hWaWJHbHphR1Z5WDNObFkzUnBiMjVmWldScGRHbHZia0lhWjJGeVlXMXZibVJmY0hWaWJHbHphR1Z5WDNObFkzUnBiMjV5RmdvVUNoSkhRVkpCVFU5T1JGOUdWVXhNWDA1QlRVVW9BQSoQCAAqBwgKMJSHqwswkZLDA1AB?ceid=IN:en&amp;oc=3"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a></strong></p> <p>Issues related to credit availability will be alleviated through the credit guarantee scheme which as it will help MSMEs to get loans up to a certain limit without any surety or security.</p> <p>The scheme offers guarantee on loans offered by financial institutions, thereby encouraging them to extend credit. </p> <p>In the event of the borrower being unable to repay, the CGS reimburses the loan amount. It is an insurance not only to the lender but to the borrower also. <em><strong>(KNN Bureau)</strong></em></p> 29225 https://knnindia.co.in/news/newsdetails/state/tamil-nadu-to-roll-out-credit-guarantee-scheme-for-msmes-for-collateral-free-loans 2022-05-20 06:27:06 knnindia.co.in