SIDBI: MSME Will Get A Loan Of Upto 1 Crores Without Any Mortgage Or Guarantee In 48 Hours

22
54925

Small Industries Development Bank of India (SIDBI) has decided to lend money to Micro, Small, Medium Enterprises (MSME) which has been involved in producing the essential goods in the corona war. SIDBI is lending loan of 50 lakh to 1 crore rupees at an interest rate of just 5%. There will be no need to give any guarantee or mortgage for the MSME to avail of the loan. SIDBI is not charging any processing fees for this loan and no additional charges will be levied even on pre-payment.

This information was given by senior officials of the SIDBI in the e-pathshala conference organized by CIMSME. This loan is available to all MSMEs providing services connected with the production of essential commodities. These products include such items as masks, sanitizers, gloves, medicines items,  permitted drugs, Ventilators, N95 or higher Masks, Eye protection (visor / goggles), Protective Gowns / Aprons, Shoe covers, IV Fluid – DNS, IV Fluid – Dextrose, IV Sets, IV Cannula, ICU Beds, Cardiac monitors, Syringe pumps, Portable x ray machines, Endotracheal tube, Suction tube, Oxygen cylinders, Rubber Sheets, testing labs, etc. The list is indicative. 

SIDBI General Manager Vivek Kumar Malhotra said that during the fight against Coronavirus, loans are being given to MSMEs under two types of schemes. Loans up to 50 lakh rupees are available under the first scheme called Safe, then under Safe Plus, MSMEs can take loans up to 1 crore.
Only 5 percent interest will have to be paid on the loan taken under both schemes. The loan will have to be applied online and the loan will be approved in just 48 hours. Necessary investigation procedures will also be completed electronically before lending. Funds to the tune of Rs 100 crore have been placed under both schemes.

Anand Prakash Srivastava, the second general manager of SIDBI, who attended the e-school organized by the chamber, said that MSMEs already availing loans can also avail the scheme, which has no connection with SIDBI till now. He said that the only condition for taking a loan under this scheme is to have cash profit in the balance sheet of that MSME. Those who are old customers of SIDBI, their balance sheet should be in the cash profit last year and the two-year cash profit should appear in the balance sheet of MSME, which was first associated with SIDBI. Mukesh Mohan Gupta, President of CIMSME, said that about 200 MSMEs participated in the e-Pathshala organized on Friday and showed keen interest in this scheme of SIDBI.

READ  Why Blissfully decided to go all in on serverless

22 COMMENTS

  1. IT IS VERY SERIOUS PRESENTED IN LAYMAN’S LANGUAGE
    THIS HAS PRESENTED SEVERAL TIMES TO THE GREAT PRIME MINISTER OF DEMOCRATIC COUNTRY AND THE GREAT FINANCE MINISTER OF DEMOCRATIC COUNTRY SINCE LAST FOUR YEARS BUT THEY ARE NOT INTERESTED TO TAKE ANY ACTIONS
    THIS IS ONLY THE LOLLIPOP DECLARED BY THE GREAT PRIME MINISTER OF DEMOCRATIC COUNTRY TO MAKE FOOLISH TO SMALL AND MEDIUM CLASS BUSINESS OWNERS OF DEMOCRATIC COUNTRY

  2. Hi
    Respect Sir

    I wish to share some information about it that what about those persons who have msme certificate but don’t have balance sheet or profit and loss account, I mean you should give loans to them Also, government should assist them also. You know what I mean , please response

    Thanks
    Regards
    Rakesh Sharma

  3. Subject : SIDBI: MSME Will Get A Loan Of Upto 1 Crores Without Any Mortgage Or Guarantee In 48 Hours.

    Dear sir, How can we apply for this type loan? Please advice

  4. SIDBI SAFE loan is applicable for food items manufacture as mentioned in this new. Food items are not mentioned in SAFE Application.

  5. They are talking of only MSME’s. What about small businesses having an annual turnover of Rs. 12 to 15 lakhs. Do they not come on any category even after filing of returns. Why dont they transfer an amount in the bank accounts which are already linked to Aadhar & PAN Card. I dont think it will be difficult for the Central government to do so. By just saying stay at home it is easy. We wont die of Corona Virus but surely of financial tensions.

  6. Respected sir, I wish to share information.style of busnus .varoorvilayil cashew .cashew processing unit (food processing).please send email adress for further discussions.i have need sidbi loan.how to apply this loan.

  7. Hi sir

    I would like to apply for loan please help me get more information about this loan and how can I get the loan.
    And is it possible for me to apply online and how can i do that Waiting for your reply

    Thank you,
    JENNIFER

  8. We are suppleyed in government project for bhel can sidbi support us

  9. Sir,
    I am doing agri business since 33 years and after COVID 19 I lost all stock. I have to restart the business and need some financial assistance. I would like to know whether SIDBI can help me from the present financial crisis. If so whom should I contact. Awaiting for reply. Tks.

  10. Our company manufacturing company is running since 18 years I would like to know SIDBI can help me from the present financial crisis. If so whom should I contact .Awaiting for reply.

  11. Sr I need business loan ror restart business lost my business covid-19 so please help me restart my business I need for business lon

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.