SIDBI Assistance to Facilitate Emergency Response against Corona Virus (Safe )
SIDBI Assistance to Facilitate Emergency Response against Corona Virus (Safe ) Key Points of scheme Upto 100% financing for capex / working capital A quick delivery product – loan with 48 hours Cost of credit guarantee cover is borne by SIDBI No processing fees 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 customer...