What is the scheme?
In the recent break out of Covid19 breakout, SIDBI has launched SAFE (SIDBI Assistance to Facilitate Emergency response against coronavirus) scheme to help finance existing MSMEs who are manufacturing products or providing any services directly related to fighting Corona Virus. It comes with zero processing fee and no pre-payment fee and cost of Credit Guarantee also borne by the SIDBI. The rate of interest is offered at 5% per annum.
How much funding can a unit expect under the Scheme?
The eligible unit can borrower up to ₹ 50 Lakhs under this 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 ghting Corona Virus are eligible under this scheme.
What are the loan tenure options?
Loan Tenure is dependent on Risk Profile and Project Implementation Schedule and cash flow of the unit. SIDBI offers a tenure up to 5 years including moratorium up to 18 months to eligible units.
What kind of collateral and margin is required?
25% of the financial assistance is needed to be provided as FD for this facility.