TARGET CUSTOMERS: This scheme will help the customers who seek finance for the purchase of machinery at an attractive Rate of Interest.

ELIGIBILITY:

• New borrower to SIDBI: up to Rs 1 Crore
• Existing Borrower: up to Rs 2 Crore
• 2 years of cash profits or stable sales
• Note: Greenfield or rural are also allowed with co-borrower

COVERAGE:

• Machines purchased from identified OEMs

RATE OF INTEREST:

• 9.25 to 10% p.a. as per internal ratings
• Repayment period – 2-5 years

KEY ATTRACTIONS:

• 100% finance based on 25% FD
• Direct payment to OEM
• Attractive ROI
• No middlemen required
• Pvt. Lease also covered subject to conditions

QUICK SANCTION & DISBURSEMENT:

• Loan to get sanctioned within 3 days of submitting information Documents
• Disbursement within 4 days of sanction

In May, SIDBI reported a 28.22% increase in its net profit, amounting to Rs 519.36 Crore for the March quarter and stated to target more MSMEs and SMEs for financing.