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

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

• 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 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

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