SMISLFFMSAME

SIDBI Make in India Soft Loan Fund for Micro Small and Medium Enterprises (SMILE)

The SIDBI Make in India Soft Loan Fund for Micro Small and Medium Enterprises (SMILE) provides financial assistance to startups in the manufacturing and service sectors. It offers attractive interest rates, extended loan repayment periods, and a minimum loan amount of Rs. 10 lakh, with a maximum of Rs. 25 lakh for equipment finance, focusing on newly emerged enterprises and those modernizing their technology.

Central

States / UT: All India

Ministry / nodal: Ministry of Finance

Department: SIDBI

Nodal department: SIDBI

Scheme for: Startups

Scheme profile

DBT (direct benefit transfer): No

Target beneficiaries: Startups

Tags: startups, MSME, Loan

Details

Brief

SIDBI Make in India Soft Loan Fund for Micro Small and Medium Enterprises (SMILE) was initiated by the Government of India to make MSMEs take an active part in the ‘Make in India’ campaign. The primary focus is to provide financing to small enterprises within the MSME sector. The term Soft Loan was introduced to offer loans with Soft terms to meet the debt-equity ratio for the establishment of an MSME.

Eligibility

  • Eligibility Criteria for SMILE :
  • The majority emphasis will be on covering newly emerged enterprises in the manufacturing and service sector
  • The primary emphasis will be on financing smaller famous enterprises within the MSME sector
  • All the existing enterprises are undertaking expansion to take advantage of newly emerged opportunities along with modernization of technology up gradation techniques
  • Regarding the SMILE Equipment Finance (SEF), the MSME entities should be in existence for at least 3 years having a satisfactory financial position.

Fund / quantum

  • Min. Loan Amount - Rs.10 lakh for equipment finance.
  • Max. Loan Amount - Rs. 25 lakh

Tenure

  • Active

Benefit tags

  • Loan

Benefits

  • - Key Features & Benefits :
  • Attractive interest rates
  • Comparatively more extended periods of loan repayment
  • Speedy dispensation of financial assistance
  • Efficient funding of partial promoter contribution by methods of soft loans
  • Speedy dispensation of machinery loan through the contactless platform
  • In the case of SMILE equipment finance, there exists a lower amount of promoter contribution
  • Key Features & Benefits :
  • Attractive interest rates
  • Comparatively more extended periods of loan repayment
  • Speedy dispensation of financial assistance
  • Efficient funding of partial promoter contribution by methods of soft loans
  • Speedy dispensation of machinery loan through the contactless platform
  • In the case of SMILE equipment finance, there exists a lower amount of promoter contribution

Eligibility

  • Eligibility Criteria for SMILE :

  • The majority emphasis will be on covering newly emerged enterprises in the manufacturing and service sector

  • The primary emphasis will be on financing smaller famous enterprises within the MSME sector

  • All the existing enterprises are undertaking expansion to take advantage of newly emerged opportunities along with modernization of technology up gradation techniques

  • Regarding the SMILE Equipment Finance (SEF), the MSME entities should be in existence for at least 3 years having a satisfactory financial position.

  • Min. Loan Amount - Rs.10 lakh for equipment finance.

  • Max. Loan Amount - Rs. 25 lakh

  • Active

Application Process

Online / portal

Official application / information link: https://www.paisabazaar.com/business-loan/sidbi-smile-scheme/

Source listing: https://www.startupindia.gov.in/content/sih/en/government-schemes.html

References

Apply

Apply now

Opens the official application or programme portal in a new tab. If in doubt, confirm details on the ministry site.

Documents Required for Government Schemes

Most government schemes require basic documents for verification. While the exact requirements vary, common documents include:

  • Aadhaar Card
  • Income Certificate
  • Caste Certificate (if applicable)
  • Residence Proof
  • Bank Account Details
  • Educational Certificates (for student schemes)

How to Apply for Government Schemes?

The application process for government schemes may be online or offline depending on the scheme. In most cases, you can follow these steps:

  1. Check eligibility criteria
  2. Collect required documents
  3. Fill the application form
  4. Submit the application online or at the relevant office
  5. Track application status