SIDBI Assistance to Facilitate Emergency Response against Coronavirus

SIDBI launches SAFE to support MSMEs

Producing Goods and Services to protect India against Coronavirus

To help support the efforts to address the COVID-19 emergency, SIDBI is supporting MSMEs manufacturing products or providing services related to fighting the Coronavirus with the launch of a new scheme, the SIDBI Assistance to Facilitate Emergency (SAFE) response against coronavirus. Under the scheme, loans are being extended at a low rate of interest of 5% within 48 hours.

Who is eligible?

Both, existing SIDBI customers and new to SIDBI customers can avail of this loan up to INR 50 Lakh as either a term loan or a working capital term loan, with no collateral property required and quick release of funds with minimum formalities.

What is covered?

Production or service of permitted drugs, sanitisers, masks, bodysuits, overalls, gloves, shoe covers, ventilators, testing labs (indicative)
The loans can be used to acquire equipment, plant & machinery, or other assets including the purchase of raw material required for production or service or to ramp up supplies of these products to meet additional emergencies.

What is not covered?

Greenfield projects, items not directly related to Covid19, Traders

Key Features & Requisites

Objective	Purpose of loan
To finance MSMEs who are manufacturing any products or providing any services related to fighting Corona Virus, such as hand sanitizers, masks, bodysuits, ventilators, testing labs, clinics, etc.	To purchase any equipment/assets for manufacturing/service To purchase raw material/consumables for production
Target Customers	Max Loan Amount and Loan Instrument
All existing MSMEs – whether SIDBI’s existing customers or new to SIDBI customers	INR 50 lakhs The loan can be availed in any of the two forms Term Loan Ad-hoc Working Capital Limit
Eligibility criteria	Key Features
New customers Two years of cash profits Account not in SMA1/2/NPA category Existing customers Cash profit in last year’s balance sheet Account not in SMA1/2/NPA category	A quick delivery product – sanction of loan within 48 hours Up to 100% finance available subject to Asset Coverage No processing fee No prepayment charges Cost of credit guarantee cover is borne by SIDBI
Security and documentation	Interest Rate
Simple one-page online application + built-in checklist Standard KYC checks and due diligence For Existing customers: extension of existing securities For New customers: credit guarantee cover is offered at no cost to the customer, or any security offered by borrower to meet asset coverage norms	5% p.a. fixed on reducing balance basis
	Repayment
Handholding support to fill up the form online.	Term Loan: 5 years including up to 1year moratorium Ad-hoc limit: Progressive reduction in DP over 12 months and adjusted against the normal limit

Link to Online Form
Download Application Form
List of Branches
Helpline Email: ccg@sidbi.in
Helpline Numbers: 8080345526, 9899994956, 9560579925