SIDBI Make in India Soft Loan (SMILE)
About This Scheme
SIDBI's SMILE (Make in India Soft Loan for MSMEs) scheme provides soft loans to MSMEs at concessional interest rates for expanding manufacturing and service operations. The scheme directly supports the Make in India initiative by providing affordable finance for technology upgradation, new equipment purchase, capacity expansion, and working capital for micro and small enterprises. SMILE loans come with repayment periods up to 10 years and favourable margin requirements compared to commercial bank loans. The scheme is particularly useful for growing MSMEs that need patient capital for capacity investments with longer payback periods than standard working capital financing provides.
Ministry: Small Industries Development Bank of India (SIDBI)
Maximum Funding
₹25 Lakh
Eligibility
Existing micro and small enterprises with a satisfactory track record; enterprises seeking technology upgradation or capacity expansion; both manufacturing and service sector MSMEs.
Key Benefits
- Soft loans at concessional interest rates (below market rate)
- Loan amount up to ₹25 lakh for micro enterprises
- Minimal collateral requirements
- Quick processing through SIDBI branch network
- Supports technology upgradation and capacity expansion
Application Process
- 1Approach SIDBI branch or visit sidbi.in
- 2Submit application with project report and business plan
- 3SIDBI evaluates the proposal and credit profile
- 4Loan sanctioned and disbursed in stages
Documents Required
- Udyam Registration certificate
- Last 2 years financial statements
- Project report for expansion/upgradation
- KYC documents of promoters
- Bank statements (12 months)
Official Links
Related Schemes
Disclaimer
This information is sourced from publicly available government portals and official scheme documents. EduMetrics is not a government body and does not guarantee the accuracy or current availability of any scheme. Please verify eligibility and details on the official portal before applying.