SMILE Equipment Finance
|
| Nature |
Used for investment in plant & machinery |
| Interest Rate |
As per SMILE |
| Min. Loan Amount |
Rs. 10 lakh |
| Max. Loan Amount |
Cap over max. loan amount |
| Repayment period |
Max. 72 months, including moratorium period |
| MSME Existence |
Min. 3 years |
Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank, NBFC and RBI. GST and service tax shall be levied extra on the mentioned charges.
Important initiatives by SIDBI in the past 25 years for promotion of MSMEs
SIDBI is well known for its initiatives for remaining aligned to the critical national goals of employment generation, poverty alleviation, fostering competitiveness and kindling entrepreneurship in the whole of the MSME sector. SIDBI has been dedicated since 1990 for the evolution of a vibrant MSME ecosystem. Some of the highly respected and notable initiatives are given below:
- Provision of cumulative assistance of around Rs. 5.40 lakh crore which is majorly channelized into MSME segment
- Direct impact over 360 lakh enterprises/persons through its extensive branch network of around 80 offices spread across the whole of the country
- Creation of an extensive network of financial institutions/branches having more than 1.25 lakh branch for provision of assistance to MSME sectors
- Extension of loans along with equity and quasi-equity aggregating to the amount of more than Rs. 13,689 crore
- Beneficiary schemes for benefiting 356 lakh disadvantaged people, majority of that being women, through its simplified Micro Finance operations
- Creation of depth in its outreach by nurturing and evolution of more than 100 MFI’s who in the recent times has emerged as robust and viable financial intermediaries serving all the less served sections
- Support to more than 1.16 lakh budding and existing entrepreneurs by infusing required skills and re-skilling of initiatives
- Facilitation of institutions and infrastructure by adopting SIDBI plus approach along with the creation of its subsidiary and associate institutions for the provision of impetus to the growth of MSME ecosystem
- Development of a pool of 1000+ professionals with more than 22% women and 40% belonging to SC/ST and OBC categories
- The bank is highly dedicated to serving the needs of the continually evolving and very dynamic MSME sector
The SIDBI was launched to emerge as an individual single window for satisfying all the necessary developmental and financial requirements of the highly important MSME sector to make it vibrant, globally competitive and robust enough. The vision is to make SIDBI brand as a highly preferred and customer friendly institution to accelerate enhancement of shareholder wealth through modern and advance technology platforms.
