ALEAP Credit Guarantee Association (ACGA)
To help and support the enterpreneurs financially, ALEAP has come up with Aleap Credit Guarantee Association (ACGA). ALEAP is the first organisation, which has taken initiative to implement the scheme in the states of Telangana in Andhra Pradesh.
ACGA is a company incorporated under section 25 of Companies Act. 1956 for the purpose of implementation of Credit Guarantee Initiative. ALEAP Credit Guarantee Scheme was formally launched by Honourable Minister for Major Industries, Govt of A.P. on the occassion of ACGA meet in which ACGA, Andhra Bank & CGTMSME were involved with an objective of mutual benefit. ALEAP has the recognisation of being the first industry Association to implement the MCGS in India.
- To implement Mutual Credit Guarantee Scheme through corpus contributions to be made by its members to the small scale industrial units including service industries.
- To identify genuine entrepreneurs who require credit assistance.
- To enable Entrepreneurs access finance from Banks/financial Institutions without collateral security.
- To promote MSME units by improving Credit flow to Small and tiny sector in a cost effective manner.
- To enhance comfort level of bankers and provision of technical services in choosing entrepreneurs.
- To build a platform for Bankers and Entrepreneurs to solve various issues pertaining to Credit.
MEMBERSHIP at ACGA :
ACGA-ALEAP has seen an increase in its membership with new entrepreneurs joining our Association. Presently total association membership reach to 112. The financial assistance was provided to our new members in getting the loan sanctioned for their initial business.
ACGA is closely associated with Public Sector Banks like Syndicate Bank, Andhra Bank, State Bank of India etc, Govt Organizations such as NSIC, SIDBI, NABARD, DIC etc in facilitating credit facilities to the needy Entreprenuers. ALEAP India is the nodal agency for recent Govt initiatives such as STARTUP INDIA and STANDUP INDIA Schemes.