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 1st Organisation, which has taken initiative to implement the scheme in the state of Andhra Pradesh. For this a separate Company was promoted by ALEAP in the name of “ALEAP Credit Guarantee Association.”
ACGA is a company incorporated under section 25 of companies Act. 1956 for the purpose of implementation of Mutual Credit Guarantee Scheme. ALEAP Mutual Credit Guarantee Scheme was formally launched by Honourable Minister for Major Industries, Govt of A.P. on the occasion of ACGA meet between ACGA, Andhra Bank & CGTMSME. ALEAP has the recognisation of being the 1st 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.
- 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.