SIDBI Assistance to Facilitate Emergency Response against Corona Virus (Safe )

SIDBI Assistance to Facilitate Emergency Response against Corona Virus (Safe )

Key Points of scheme
  1. Upto 100% financing for capex / working capital
  2. A quick delivery product – loan with 48 hours
  3. Cost of credit guarantee cover is borne by SIDBI
  4. No processing fees
  5. No prepayment charges
Eligibility Criteria
  • For New to Bank customer – At least two years of cash profits and account not in SMA1/2 category
  • For existing Bank customer – Cash profit in last audited balance sheet and account not in SMA1/2 category
Eligible Expenditure
To finance all existing MSMEs who are manufacturing any products or providing any services directly related to fighting Corona Virus
Quantum of assistance
Max. upto ₹ 50 Lakh
Interest rate
5% p.a. fixed on reducing balance basis..interest rates are subject to change
Tenure and Moratorium
  • Term Loan: Upto 5 years including moratorium
  • WCTL: Upto 18 months including moratorium
Security
  • For Existing customers: Extension of existing securities /any other security to meet asset coverage
  • For New to SIDBI customers: Credit guarantee coverage, or any other security to meet asset coverage norms
  • In case of WCTL to New to SIDBI customers, promoter’s contribution of 25% is converted into cash collateral
FundsTiger can arrange loans from all above mentioned banks you can apply for an attractive offer with best possible Rate of Interest and Terms for Personal Loan, Business Loan, Home Loan and Car Refinance Loan.
FundsTiger is an Online Lending Marketplace where you can avail fast and easy Home, Business and Personal Loans via 30+ Banks and NBFCs at best possible rates. We will also help you to improve your Credit Score. We have dedicated Relationship Managers who assist you at every step of the process. We can also help you in Balance Transfers that will help you reduce your Interest Outgo

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