SIDBI AND GOOGLE PARTNERSHIP FOR ASSISTANCE TO MICRO ENTERPRISES (SANGAM)
Objective :
Financial assistance shall be provided in the form of term loans to micro enterprises for Capex or meeting working capital requirement.
Key Features :
- Up to 100% finance
- Funding of both Capex and working capital requirement.
- Nil processing fee.
- Interest rate of 6% p.a. (5.50% p.a. for women run / owned enterprises).
- Repayment upto 5 years (3 years for WCTL).
- Availability of CGTMSE cover.
Eligibility
- Term loans to Micro enterprises.
- Minimum 2 years operations of the unit required.
- WCTL shall be provided to only those enterprises not availing WCL / OD facility from any Banks / FIs.
- Operating profit during past 2 years.
- Cash profit during past one year.
- No default / delinquency to any bank /FI, etc., during past 24 months.
- Standard Norms apply (CIBIL / CMR, due diligence checks etc.)
Target Group
Preference to women run / owned enterprises and entrepreneurs from smaller cities (beyond Metros).
Loan Amount
- TL upto 100 Lakh, subject to maximum 40% of the Net Sales for manufacturing units and 75% of Job work income / gross receipts for job work / service sector enterprises.
- Upto March 31, 2022 for sanctions.
Interest Rate
Interest Rate- Interest rate of 6% p.a. (5.50% p.a. for women run / owned enterprises).
Details : https://www.sidbi.in/en/products#section19
