Odjectives
MSME units with at least 5 years operations with stable
sales and cash profits in immediate past 3 years
Minimum net sales of Rs.5 crore and no operating loss in immediate past two
years
Eligibility Criteria
The
eligibility criteria for availing the loan under the SIDBI Speed plus Scheme are listed as
follows:
- To
avail the loan, the MSME units should have at least five years of
operations with stable sales and cash profits in immediate past 3 years
- The
MSME should have minimum net sales of 5 crores and no operating loss in
immediate past two years
Eligible Expenditure
The
eligible expenditure for getting the SIDBI Speed plus Scheme loan is explained
in detail below:
- Machinery
purchased from identified Original equipment manufacturer (OEM)
manufacturing high-end machines or authorized dealers, Indian subsidiaries
of such foreign OEMs, which have the strong brand reputation and with whom
SIDBI has entered into an MoU
- Proposed
machinery should relate to the same line of business
- Second
hand or refurbished machines are not eligible
Quantum of Assistance
- Under
the SIDBI Speed plus Scheme, Up to 100% of the machinery cost subject to a
maximum of 2 crores is provided for New SIDBI customers (based on 20% –
30% FD)
- Under
the SIDBI Speed plus Scheme, up to 3 crores are provided for existing
customers of SIDBI (based on 15% – 30% FD)
Interest Rate
The
interest rate for the loan under the SIDBI Speed plus Scheme is 8.80% to 10.50%
per annum.
Tenure details
The tenure
for SIDBI Speed plus Scheme loan is 2 to 5 years including moratorium of 3 to 6
months
Documents Required
The
documents required for SIDBI Speed plus Scheme is explained in detail below:
- Proforma
Invoice of the Machinery (quotation)
- KYC
documents (as per Bank’s guidelines)
- Past
three years audited financial statements
- In
case the application is lodged between April-October, CA certified
provisional B/s for previous FY
- Statement
of immovable properties of promoter/directors
- Copy
of MoA/
Partnership deed/Trust Deed - Copy
of consent to establish from PCB
- Document
showing Existing Power load
- Application
filed for additional power load required
- Copy
of rent/lease agreement
- Details
of Loans taken from other banks/FIs/NBFCs which are currently outstanding
- Copy
of Udyog Aadhar Memorandum (UAM)
- Copy
of GST Registration Certificate (for
GST registered units)
- Copy
of sanction letters of other lenders for existing banking arrangement
- Proof
of Identity document
- Proof
of Address document