LGSCATSS - Business
LGSCATSS
WCTL: For augmenting NWC, to meet operating liabilities, and to restart businesses affected due to COVID-19 pandemic.
Term Loan: For purchase of furniture/fixtures/machinery/equipment/Vehicles etc.
Salient features of Loan Guarantee Scheme for Covid Affected Tourism Service Sector (LGSCATSS)
Eligibility:
- Individuals, Business Enterprises/MSMEs engaged in Travel & Tourism viz Tourist Guides, Tour Operators/Travel Agents/Tourist Transport Operators, constituted as Proprietorship, partnership, registered company, trusts and LLPs (limited Liability Partnership) or any other legal entity shall be eligible under the scheme.
- Tourist Guides and Travel and Tourism Stakeholders having borrowing arrangement with the Bank or non-borrowers having SB/CA with the Bank as on 31.03.2021 shall be eligible for assistance under the scheme.
- Tourist guides should be recognized/approved/registered by Ministry of Tourism and State Govts/UT Administrations.
- Travel & Tourism Stakeholders means Tour Operators/Travel Agents/Tourist Transport Operators recognized/ approved/registered by the Ministry of Tourism, Govt. of India.\
- Registration Certificate issued by State Govts/UT Administrations/Ministry of Tourism should be dated prior to 31.03.2021, as the loan is envisaged for business affected due to Covid-19 pandemic.
- If the target beneficiary has already availed benefit under GECL-1.0 or GECL-3.0, he shall have to close/ pay off the dues under GECL, before applying for coverage under LGSCATSS scheme of the M/o Tourism. Likewise, if an eligible borrower has availed assistance under LGSCATSS, he shall have to close/ pay off the dues under LGSCATSS, before applying for coverage under GECL.
Loan Amount:
- Up to Rs. 1.00 lakh each for registered Tourist Guides and
- Up to Rs.10.00 lakh each for registered Travel & Tourism Stakeholders.
Facility:
- WCTL and
- Term Loan facilities
Validity:
- Valid up to 31.03.2023 or till guarantees for an amount of Rs 250 crores are issued under the scheme, whichever is earlier.
Tenor:
- Moratorium period- 12 months
- Repayment period- 48 months
- Total tenor-60 months
Processing fee / Guarantee fee: Nil
Collateral security: NIL
Interest Rate:
- EBLR + 100 bps, present effective rate of 7.65% subject to a maximum interest rate of 7.95% p.a. during the entire tenor.
Last Updated On : Friday, 01-04-2022

Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above
SME Government Schemes
Limited Time Offers - Unlimited Joy

Salient features of Loan Guarantee Scheme for Covid Affected Tourism Service Sector

Criteria
- Features
- Eligibility
- Terms and Conditions

Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above