The objective of the Scheme

The objective of the SIDBI and Google Partnership for Assistance to Micro Enterprises (SANGAM) is to support new & existing Micro Enterprises for meeting the working capital requirements.

Key Features of the SANGAM Scheme

The key feature of the Sidbi and Google Partnership for Assistance to Micro Enterprises (SANGAM) is as follows:

• It is one of the quick delivery products of SIDBI; a loan under the scheme will sanction within 2 days.
• SIDBI provides Upto 100% finance for existing and new micro-enterprises
• Under this scheme, enterprises will get funding for both Capex and working capital requirements.
• To avail of the loan under the scheme, the borrower does not need to pay any processing fee.
• Another important feature of the scheme is that the borrower can avail of the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) cover

Eligible Enterprises

Enterprises eligible under the SIDBI and Google Partnership For Assistance To Micro Enterprises (SANGAM) are listed below:

• SIDBI offers term loans to micro-enterprises
• Preference will be given to women-run / owned enterprises and entrepreneurs from smaller cities (beyond Metros).

Eligibility Criteria

The eligibility criteria for availing of the loan under the SIDBI and Google Partnership For Assistance To Micro Enterprises (SANGAM) is as follows:

• To avail of the term loan under the SANGAM Scheme, the Microenterprises should have a minimum of 2 years of operations.
• Working Capital Term Loan shall be provided to only those enterprises not availing Western Coalfields Limited (WCL)  / Overdraft account facility from any Banks / financial institution.
• The Micro enterprises should be Operating profit during past 2 years.
• The Micro enterprises should have Cash profit during the past year.
• The Micro enterprises  should not have any default/delinquency to any bank /FI,

Quantum of Assistance

SIDBI is providing upto 100 Lakh, subject to a maximum of 40% of the Net Sales for manufacturing units and 75% of Job work income / gross receipts for job work/service sector enterprises.

Validity of the Scheme

SIDBI announced that the SANGAM scheme is valid Upto March 31, 2022, for sanctions of loan.

Interest Rate

The interest rate for the loan under the SIDBI and Google Partnership For Assistance To Micro Enterprises (SANGAM) is tabulated here.

1.      Women run / owned enterprises Interest Rate is 5.50% per annum

2.     Other Micro Enterprises Interest Rate is 6% per annum

Repayment Period

SIDBI offers a repayment period of Up to 5 and 3 years for a Working Capital Term Loan under the SIDBI and Google Partnership For Assistance To Micro Enterprises (SANGAM).

Documentation for SANGAM Scheme

SIDBI offers a simple one-page application and built-in checklist for SIDBI Assistance To Export Oriented MSMEs Under Ubharte Sitaare Programm). The Standard KYC checks and due diligence are also available for the Ubharte Sitaare Programs.

SANGAM Scheme Application Procedure

The eligible micro-enterprises needs to access the SIDBI’s online application page to apply to the scheme.

The online Registration Login page will display, by clicking on the Registration tab, a new user can register in SIDBI and avail of the loan.