Top-Up Loan for Immediate Purposes (TULIP) Scheme

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What is the scheme?

Existing MSMEs who has exposure with SIDBI can avail a top-up loan for immediate requirement under TULIP Scheme (Top-Up Loan for Immediate Purposes). The funding is done for the purchase of machinery/equipment, civil construction/ renovation, acquisition of DG set and quick fund required to execute orders from Govt or BBB companies.

No additional security is asked for, and the disbursal is done in a few days of application.

How much funding can a unit expect under the Scheme?
The eligible unit can borrower up to 30% of the existing exposure with SIDBI or 20% of net sales subject to a maximum of ₹ 2 Cr.

Which units are eligible under this scheme?
MSMEs running credit facility with SIDBI for the last 12 months and having cash profit for the previous financial year are eligible under this scheme.

What are the loan tenure options?
Loan Tenure is dependent on Risk Profile and Project Implementation Schedule and cash ow of the unit. SIDBI offers a tenure up to 5 years including moratorium up to 6 months to eligible units.

What kind of collateral and margin is required?
The unit is not required to offer any additional security under this scheme; however, 10% of the loan amount is needed to keep as FD with SIDBI.