SAFE - Plus Scheme
What is the scheme?
MSMEs having confirmed order from Central/ State Govt. SIDBI financially assists/Govt. Agencies nominated for the purpose of assisting those manufacturing products or providing any services directly related to fighting Corona Virus (Covid-19) under SAFE – Plus Scheme. Rate of interest is at 5% per annum, and SIDBI relaxes the margin requirement under this scheme.
How much funding can a unit expect under the Scheme?
An eligible unit can borrow up to ₹ 100 Lakhs under SAFE – Plus Scheme.
Which units are eligible under this scheme?
Existing MSMEs with preceding year Cash Profit, who are manufacturing any products or providing any services directly related to fighting Corona Virus are eligible under this scheme.
What are the loan tenure options?
Since it is a working capital facility, the tenure offered is 12 months with revolving limit with repayable in 4 months.
What kind of collateral and margin is required?
Collateral and margin requirements are waived off under this scheme.