SME - IT Loan Scheme

Organisation

Small Industries Development Bank of India (SIDBI)

Objective

SIDBI finances the creation or up-gradation of IT infrastructure of your company. It provides finance for numerous applications viz. hardware installation, implementation of legal software and other related softwares, network setup etc. Making the process of creation or up-gradation of an IT infrastructure for businesses now, a lot simpler.

Eligibility

Business enterprises and service sector entities recording profit in the previous 2 years are eligible for finance from SIDBI. They should not have defaulted to any financial institutions. Computers for business and commercial purposes are only eligible for this scheme.

Brief

SIDBI assists in Term Loans. You can get an assistance of amount ranging between RS.5 lakhs to RS.25 lakhs. You can repay the loan in EMIs at very low interest rate, spread over a maximum period of 36 months. As the up-front fee, 1% of the amount sanctioned needs to be paid. As security, hypothecation of assets, personal guarantee of Promoters / Directors, Postdated cheques and CGTSI cover must be provided.