SIDBI’S TERM LOAN TO ENHANCE PRODUCTION OF MSMES (STEP) SCHEME GUIDELINES
Objectives
- To provide medium/short term financial assistance to eligible MSMEs for augmenting NWC and / or to execute urgent confirmed orders.
- Incremental working capital requirement may also be funded after satisfying about non enhancement of regular WC limit from existing lenders.
Key Features
- Both in rupee and foreign currency.
- Generally, upto 3 years (including moratorium upto 6 months).
- Availability of CGTMSE cover
- Simplified documentation
- Quick sanction and disbursement
Eligibility
- Existing MSMEs as per MSMED Act
- Minimum 3 years operations of the unit required. (2 years for Existing customer of SIDBI)
- WCTL shall be provided to only those enterprises not availing WCL / OD facility from any Banks / FIs.
- Operating profit during past 2 years ( 1 year for Existing Customers).
- Standard Scheme Norms apply (CIBIL / CMR, due diligence checks etc.)
- should not be in default to any bank/FI.
Target Group
Micro, Small and Medium Enterprises
Loan Amount
- Upto Rs 300 lakh for existing customers
- Upto Rs 200 lakh for New Customers
Interest Rate
MCLR based ROI as per internal rating.
Details : Click here
