SIDBI - EXPRESS Scheme- Machinery loans made easy for MSME.


SIDBI - EXPRESS Scheme- Machinery loans made easy for MSME.
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Saturday, January 13, 2024
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Dear all,

Your association is forwarding herewith an email received from Shri Jay Kumar Gupta, Deputy General Manager, Small Industries Development Bank of India, Maharashtra regarding SIDBI - EXPRESS Scheme- Machinery loans made easy for MSMEs.

As you are aware SIDBI offers a wide range of finance schemes to the (MSMEs) industry by way of term loan and working capital. These loans are offered at attractive interest rates to provide necessary capital for the growth and expansion of MSMEs. SIDBI also supports national action plans on climate change and has taken initiatives to promote responsible business practices, including sustainable financing, energy efficiency and cleaner production in the MSMEs sector through both financial and non‐financial support.

Recently, SIDBI has launched EXPRESS Scheme for MSMEs for Machinery financing with faster procedure and offering financing at attractive interest rate and reduced processing fee. The Bank has come up with various digital initiatives by leveraging the capabilities of new age Fintechs, Advanced Artificial Intelligence, Machine Leaming [ML] based tools and enriched public databases (GST, ITR, MCA, Bureau etc.) to evolve improved underwriting processes with reduced turnaround time in the entire direct lending operations. The product framework envisages automated evaluation based on Financial Income & Trade (FIT) /C131L MSME Rank (CMR) / JOCATA composite index of the entity and CIBIL credit vision score of promoters. The rating of the proposal shall be system driven based on below mentioned parameters as per rating model.

To get more details about the Scheme, PLEASE CLICK HERE.

To view the step by step procedure to apply for the scheme, Please Click Here.

Thanking you,
With regards,

For Silvassa Industries & Manufacturers Association

Narendra Trivedi
General Secretary


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