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CGTMSE and Biz2Credit Launch Monthly Newsletter for Small and Medium Businesses in India - CGTMSE rolls out initiative to expand awareness of collateral-free loan options to India’s small and medium enterprise population
CGTMSE and Biz2Credit Launch Monthly Newsletter for Small and Medium Businesses in India

 

NewswireToday - /newswire/ - New Delhi, India, 2009/05/08 - CGTMSE rolls out initiative to expand awareness of collateral-free loan options to India’s small and medium enterprise population.

   
 
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Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) and Biz2credit, a small business loan and resource marketplace, are launching a monthly newsletter to educate business owners throughout India on how to access and use credit to grow their businesses.

The newsletter will be distributed through Biz2Credit’s small business network and published on biz2credit.in, a business portal that connects small business owners to lenders, financial advice and other entrepreneurs. Small business owners can read case studies, expert columns and business-of-the-month articles to learn about the latest industry and economic market trends that may affect their business. The first issue features a Q&A on CGTMSE’s collateral free credit program.

“CGTMSE’s program is such a great resource for entrepreneurs and we’re excited to work with them to get the word out to small and medium businesses in India,” said Rohit Arora, Co-founder and CEO of Biz2Credit “We’ve paired credit education with credit access to extend CGTMSE’s collateral-free financing options to small business owners during this tough economic environment.”

Businesses can receive a copy of the newsletter by registering for free on biz2credit.in. Additionally, entrepreneurs interested in obtaining collateral free small business loans or working capital credit lines from CGTMSE can apply directly through their account on biz2credit.in. The portal connects business owners with loan options from lenders, including public, private and micro and rural financial institutions.

“CGTMSE is excited to be associated with Biz2Credit in this new initiative. This is in line with our focus to guarantee collateral free working capital small business loans to the micro, small and medium enterprise (MSMEs) in the manufacturing and services sector by leveraging technology through our lending partners,” said OS Vinod, CEO of CGTMSE. “CGTMSE guaranteed collateral free working capital lines have become the flagship lending program, and I feel the association with Biz2Credit will help us reach out to a large number of MSMEs across India.”

Biz2Credit and CGTMSE have collaborated to create a system that improves the financial application process for collateral-free small business loans and working capital lines of credit. The average processing time for receiving a loan is around two weeks.

“We’ve created an entire environment that assists the entrepreneur in accessing capital,” said Katie Kapler, Director of Online Strategy. “Proprietary technology matches small business owners with loan options that best suit the business’s needs, but it doesn’t end there. We’ve integrated document sharing and messaging features to help the entrepreneur quickly and easily reach the funding stage.”

About Biz2Credit, LLC

Founded in 2007, Biz2credit (biz2credit.com | biz2credit.in) connects small business owners with service providers and lenders, empowering them to effectively compete with big business, innovate their services and products and grow their enterprise. Biz2Credit’s does this by matching entrepreneurs with loan options based on the strength of their business, venture financing priorities and the creditworthiness of the individual. Built for transactions, Biz2Credit gives small business owners 1GB free storage space to manage and share documents, access to a global small business exchange to market their services and free advice on how to start or grow their enterprise.

About CGTMSE

The Credit Guarantee Fund Trust for Micro and Small Enterprises was set up by Ministry of Micro, Small & Medium Enterprises (MSME), Government of India (GOI) and Small Industries Development Bank of India (SIDBI) in August 2000.The GOI and SIDBI as settlers of the Trust have committed to raise a corpus of Rs.2500 crore (approx. USD 520 million at 1 USD = Rs.48) in the ratio of 4:1 to provide CGTMSE a sound financial base. CGTMSE operates the "Credit Guarantee Scheme" (CGS) which facilitates provision of collateral-free and/or third party guarantee-free credit facilities to units in the micro and small enterprises sector.
CGTMSE has guaranteed over 150,000 loans in last 8 years of its inception and is see a fast growth in the adoption of its products.

 
 
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CGTMSE and Biz2Credit Launch Monthly Newsletter for Small and Medium Businesses in India

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Publisher Contact: Sameer Deshmukh - Biz2Credit.com 
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