Hi Rodinhoods,
We are planning to raise funds for our startup UserExperior technologies. When doing so, someone told us about CGTMSE scheme by the Govt of India. When I checked on the website it was very confusing to understand on how it works. Hence i thought to check with you all to see if any one has applied for this scheme and would like to know the following
1. Is this scheme better than applying for angel funding?
2. What are the benefits of this scheme for startups?
3. What is the interest rate do they apply?
4. They mentioned on website that the scheme is collateral free and no guarantee is required, so incase where a default happens how does the institution recover their money?
5. If the scheme is really good, then can you recommend someone who can help in understanding in more detail and also help in the entire application process.
Please also share any more thoughts about this scheme which the above questions do not cover. It will be really helpful.
Thank you
Vimlesh Gautam
@userexperior1