o Partner bank sends nomination to CBSI
o If partner bank is satisfied that applicant is entitled to be guaranteed by the scheme, but lacks the security needed for the loan, the partner bank will apply to the CBSI for the scheme guarantee.
o CBSI assesses nomination and issues guarantee
If CBSI is satisfied, guarantee will be given and partner bank will notify applicant of the outcome.
- Contact the BCD Division for more information
BCD - General Contact
- Contact the CBSI
- Contact the POB
o Further information
o The scheme will guarantee 90% of the unsecured portion of a bank loan. Please contact the partner bank for maximum guarantee amount. For example, if you make a proposal to a partner bank to borrow $50,000 and have asset(s) which the bank accepts as security for $30,000, the unsecured portion of the loan is $20,000. If the partner bank wants the scheme to assist in securing this $20,000, it will apply to CBSI who will guarantee 90% of this amount which is $18,000. The unsecured balance of the loan is 10% or $2,000. This is the risk of the participating partner bank.
§ Download MSME Business Loan Guarantee Scheme