What are the features of Chaitanya Godavari Grameena Bank MSME Loans?

Chaitanya Godavari Grameena Bank offers MSME loans to small businesses, small road and water transport operators, retail traders, and professional as well as self-employed individuals. The objective of these loans is to offer advances to MSMEs to help them in expanding, acquiring assets, meeting working capital requirements, etc.

Eligibility criteria for availing MSME Sector Loan

Chaitanya Godavari Grameena Bank offers MSME Sector loans to:

• Small business
• Micro enterprises
• Self-employed individuals
• Consumer co-operative stores
• Road transport operators
• Partnership firms
• Partnership firms providing services other than professional services such as hotels, cycle and taxis, tea stalls, PCO, pickle making, saloons, kite making, etc.
• Professionals such as doctors, lawyers, engineers, architects, Chartered Accountants, tax consultants, researchers, etc.

Documents required for Chaitanya Godavari Grameena Bank MSME Sector Loan

Here are the documents to be submitted while applying for the MSME Sector Loan from Chaitanya Godavari Grameena Bank:

• Pan Card
• Identity Proof
• Residence Proof
• Proof of business existence
• Previous 2 years Income Tax Returns
• Past 1 year Bank statement, including current and savings account.
• 2 passport sized photographs
• Other documents as expressed under the scheme

Chaitanya Godavari Grameena Bank offers financial services to the rural population through a range of products specially designed for the MSME sector. The bank was a result of a union between Chaitanya Grameena Bank and Godavari Grameena Bank, sponsored by Andhra Bank. The head office of the bank is in Guntur, Andhra Pradesh. The government of India is 50% shareholder of the bank while the sponsor bank has 35% shares and the Government of Andhra Pradesh retains 15% share.