+91 888 480 0789
info@FundsTiger.com
Partners Login/Register
Login/Register
Facebook
Twitter
LinkedIn
YouTube
Instagram
Pinterest
FundsTiger - Fast Loans for IndiaFundsTiger - Fast Loans for India
  • BUSINESS
    • Apply Business Loan
    • How it Works – Business Loans
    • Eligibility and Docs for Business Loans
    • Loan Types
    • FAQs for Business Loans
  • PERSONAL
    • Apply Personal Loan
    • How it Works – Personal Loans
    • Eligibility and Docs for Personal Loans
    • Loan Types
    • FAQs for Personal Loans
    • Champion Registration
    • Credit Score Booster Consulting
    • Loan Balance Transfer Counselling
    • Financial Health Checkup and Booster
  • HOME
    • Apply Home Loan
    • Home Loan Guide
    • Eligibility and Docs for Home Loans
    • Loan Types
    • FAQs for Home Loans
    • Pradhan Mantri Awas Yojana (PMAY)
    • FAQs on PMAY
  • KNOWLEDGE CENTER
    • Calculators
    • Credit & Cibil Score

For security reasons, your session has been timed out. To continue, Please login.

SIDBI Make in India Soft Loan Fund for Micro, Small and Medium Enterprises (SMILE)

January 16, 2019Govt MSME Schemes, MSME Loans, SIDBISuganya Arumugam

SIDBI Make in India Loan for Enterprises (SMILE) was also launched by Jaitley. The Scheme is intended to take forward Government of India’s ‘Make in India’ campaign and help MSMEs take part in the campaign.

The focus will be on identified 25 sectors under ‘Make in India’ programme’ with emphasis on financing smaller enterprises within the MSME sector. The scheme is expected to benefit approximately 13,000 enterprises, with employment for nearly 2 lakh persons.

Objective

The objective of the Scheme is to provide soft loan, in the nature of quasi-equity and term loan on relatively soft terms to MSMEs to meet the required debt-equity ratio for establishment of an MSME as also for pursuing opportunities for growth for existing MSMEs.

Eligibility

  • All MSMEs as per MSMED Act 2006.
  • Emphasis on financing smaller enterprises within MSMEs and also new enterprises in manufacturing as well as service sectors
  • Existing enterprises undertaking expansion / modernization / technology up-gradation / other projects for growing their business
  • Loans extended under the scheme cannot be used for repayment of earlier loans.
  • Focus on all the identified 25 sectors. In addition, to help MSMEs across other sectors, deserving proposals from any other sector can also be assisted on merits.

How to Apply:

For enquiries, please contact the nearest SIDBI office or tell us briefly about your business & requirements at www.sidbi.in (online enquiry)

Types of Assistance

Soft Loan – In the Nature of Quasi – Equity

Amount

  • 10% of the project cost subject to maximum Rs.20 lakh
  • 15% of the project cost subject to maximum Rs.30 lakh for enterprises promoted by SC / ST / Persons with disability / Women (controlling stake of at least 51%)
  • Term Loan – On Relatively Soft Terms

Upfront Fee

0.50% of the loan amount

Rate of Interest

  • First 3 years: 9.15% to 9.35% p.a. (fixed)
  • From 4th year onwards: 11.70% – 12.70% p.a.  – Based on Bank’s PLR / Internal Rating (rate can be both fixed and floating)

Repayment Period

Up-to 10 years inclusive of moratorium up-to 3 years.

Term Loan – On Relatively Soft Terms

Amount

  • Minimum Rs.50 lakh for new enterprises
  • Minimum Rs.25 lakh for existing enterprises

Rate of Interest

  • First 3 years: 9.45% to 9.95% p.a. (fixed) – Based on Rating
  • From 4th year onwards: 11.70% – 12.70% p.a. – Based on Bank’s PLR / Internal Rating

Term Loan

  • 75% of Project Cost up-to Rs.100 lakh, and
  • 2/3rd for the rest subject to promoters contribution and DER norms.

Security

  • First charge over all assets created under the project
  • Personal guarantee of the Promoter(s)
  • Fixed Asset Coverage of at least 1.40 times including collateral security

Repayment Period

Up-to 10 years inclusive of moratorium up-to 3 years.

Fiscal Incentives

  • For the general category, 10% of the project cost, subject to a maximum of INR 20 Lakh is provided as the loan amount
  • 15% for the enterprises promoted by Scheduled Caste (SC) /Scheduled Tribe (ST) / Persons with Disabilities (PwD), and women, subject to a maximum of INR 30 Lakh
  • Persons belonging to these categories must own a controlling stake (ie 51% or higher)

FundsTiger is an Online Lending Marketplace where you can search for and avail Fast and Easy loans from almost all the leading Banks and NBFCs. You can Apply for Loans with Best possible Rates of Interest and terms for Personal Loan, Business Loan , Home Loan and Car Refinance Loan.  

SIDBI – Sustainable Finance Scheme (SFS)
Stand-Up India Scheme for MSME
SIDBI Make in India Soft Loan Fund for Micro, Small and Medium Enterprises (SMILE)
Coir Udyami Yojana – MSME
Credit Guarantee Scheme for Startups
NSIC – MSME Credit Facilitation Scheme
SIDBI 4E Scheme – MSME Loans
Previous post Tips to increase your Home Loan eligibility Next post ITR Filing process in just one day




Recent Posts

  • 5 Best Banks for Education Loan in India 2021
  • How to Handle Income Tax Notices?
  • MSME Global Mart
  • 5 Best Share Market Sites for Analysis
  • 5 Tips to manage your Home Loan EMIs
  • Personal Loans
    • Apply Personal Loan
    • How it Works
    • Eligibiity and Docs Required
    • Types of Personal Loans
    • FAQs
  • Home Loans
    • Apply Home Loan
    • Eligibiity and Docs Required
    • Home Loan Guide
    • Types of Home Loan
    • FAQs
  • DigiLocker
  • Income Tax
    • ITR Forms
    • IT Returns
  • Credit Cards
  • Interest Rates
    • Personal Loan Rates
    • Business Loan Rates
    • Home Loan Rates
    • Fixed Deposit Interest Rates
  • Lowest Interest Rates
    • Lowest Personal Loan Rates
    • Lowest Business Loan Rates
    • Lowest Home Loan Rates
    • Lowest Loan Against Property Rates
  • Budget 2019
    • Budget 2019 – Tax breaks
    • Budget Impact on Business and MSME
    • Highlights of Interim Budget 2019-20
  • User Guides
  • Business Loans
    • Apply Business Loan
    • How it Works
    • Eligibiity and Docs Required
    • TypeS of Business Loans
    • FAQs
    • CGTMSE-Loans
    • Mudra Loan(PMMY)
  • PMAY
    • Pradhan Mantri Awas Yojana
    • FAQs On PMAY
  • Credit Score
    • Know your Credit Score
    • Improve your Credit Score
    • Good Cibil Score
    • CIBIL Score Facts
  • Tools
    • Best Personal Loan
    • Best Business Loan
    • Best LAP
  • Investments
    • Top 7 Investment mistakes
    • Top 5 Things before investing
    • 8 Best Investment options
    • Fixed Deposit is a better Investment option
    • Why you should invest in ELSS?
  • Lenders
    • Our Lenders
    • How it Works
    • FT Credit Analyzer
  • Partners
    • Why Partner With Us
    • Register as a Partner?
    • Affiliate Program
  • Resources
    • IFSC Codes
    • MICR Codes
    • Small Business Mentors
  • Car Refinance
  • Poplular Blogs
    • NPS
    • LAP
    • Tax Benefits
    • CIBIL
    • Mutual Funds
  • Others
    • Careers
    • Contact Us
    • Terms of Service
    • Privacy Policy
  • FundsTiger TV
  • Credit Score Booster Consulting
  • Loan Balance Transfer Counselling
  • Financial Health Checkup and Booster
  • Subscribe to FundsTiger
  • Loan Calculators & Guides
    • Home Loan Eligibility Calculator
    • Business Loan Eligibility Calculator
    • Personal Loan Eligibility Calculator
    • Home Loan EMI Calculator
    • Business Loan EMI Calculator
    • Personal Loan EMI Calculator
    • Car Loan EMI Calculator
    • Reduced vs Flat Rate Calculator
    • Fixed Deposit (FD) Calculator
    • Working Capital Calculator
  • Saving Schemes
    • Post Office Saving
    • Atal Pension Yojana
    • Sukanya Samriddhi
    • Kisan Vikas Patra
    • Senior Citizen Saving
    • PPF
    • EPF
    • VPF
  • Year 2019
    • Investment Lessons 2019
    • Financial Resolutions 2019
    • Saving Tips 2019
    • Financial Deadlines 2019
  • About Us
    • Overview
    • Mission and Values
    • Why FundsTiger
    • Our Team
    • Our Investors
  • Refer & Win
  • Popular Playlists
  • HOME
  • ABOUT US
  • BUSINESS LOANS
  • PERSONAL LOANS
  • HOME LOANS
  • CONTACT US
  • ToS
© 2020 All rights reserved. FundsTiger