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Small Industries Development Bank of India, more popularly known as SIDBI is a pioneer development bank of the country established with the purpose of sole focus on the MSME sector. It is a wholly owned subsidiary of IDBI (Industrial Development Bank of India) and has come into existence via a special Act in the year 1988 and operational since the year 1990.
SIDBI was formed with the aim to provide a central unit for financing, promotion as well as development of the MSME units.
It provides a huge source of finance for the development, promotion, marketing and commercializing of the MSME Sector. SIDBI has tailored made loan products and financial services that can be availed by the small businesses to satisfy their financial needs.
About Small Industries Development Bank of India
The major objectives of SIDBI can be categorized under four aspects namely,
Some of the key objectives of SIDBI pertaining to the above four are mentioned below.
Some of the key functions of SIDBI are highlighted below.
There are various benefits of procuring a loan for MSME sector through SIDBI. Some of such benefits are listed below.
One of the primary functions being financing the MSME sectors, the financing options available to the eligible borrowers from SIDBI are mentioned below.
SIDBI offers many direct financing options among others to the small businesses for their multifaceted needs like working capital requirements, term loans, combination of both, energy saving schemes, etc.
Some of the schemes under the direct financing mode of SIDBI are mentioned below,
SMILE (SIDBI Make in India Soft Loan Fund For Micro Small and Medium Enterprises)
The loan amount under this scheme is From Rs 10,00,000 Rs. to Rs. 25,00,000 primarily for financing the small and medium enterprises engaged in manufacturing or service sector for expansion/modernization/technological upgradation, etc. for a period up to 10 years including the moratorium of 36 months.
SMILE Equipment Finance (SEF)
Minimum Loans of Rs. 10,00,000 for a maximum period of 6 years for investment in Plant and Machinery/MFAs/Need Based Civil Construction for MSMEs that have been in existence for a minimum period of 3 years.
Loans under Partnership With OEM
Loans up to a maximum of Rs. 1,00,00,000 to MSMEs (that have been in existence for a minimum period of 3 years) given for investment in Plant and Machinery purchased from respective OEMs for a maximum period of 5 years.
Working Capital (Cash Credit)
Working Capital loans in the form of cash credit to the MSME units that fulfill the prescribed eligibility and financial parameters set by SIDBI in this regard.
SIDBI Trader Finance Scheme (STFS)
Eligible MSME retailers or wholesalers in existence for a minimum period of 3 years and having a maximum 10% drop in Sales in last 2 years can get loans under this scheme from Rs. 10,00,000 to Rs. 1,00,00,000 for maximum period of 5 years.
SIDBI – Loan for Purchase of Equipment Development (SPEED)
Eligible Borrowers can get 100% of the cost of machinery (up to Rs. 1,00,00,000 for new customers and Up to Rs. 2,00,00,000 for existing customers) as finance on immediate basis for eligible expenditure under the scheme for a period of 2-5 years at a rate of 9.25% to 10% per annum.
Under this type of financing, SIDBI provides refinance to the institutional lenders that are responsible to provide finance to the MSME sector. The purpose of such financing is to ensure a steady flow of credit availability to the MSME sector and thereby empowering them.
The micro finance option is to provide micro financial services to the economically weaker section as well as women entrepreneurs. It also provides assistance for the entrepreneurs to grow from micro financing needs to higher needs at reasonable rates and comfortable repayment tenures.
The loan application process under SIDBI is mentioned below.
The contact information of SIDBI for any queries related to its products offered or eligibility there under or for any other information as required by the potential borrowers is mentioned below.
Toll Free Number – 1800 226753
Postal Address (Head Office) – SIDBI Tower, 15, Ashok Nagar, Lucknow-226001 Uttar Pradesh
Phone Number – 0522-2288546/47/48/49/0522-4259700
1. What is the full form of SIDBI?
The full form of SIDBI is Small Industries Development Bank of India.
2. What is the focus or primary objective of SIDBI?
The primary objective of SIDBI is to provide financial assistance to the MSME sector along with providing developmental and promotional services to the small businesses.
3. When was SIDBI established?
SIDBI was established in the year 1988 under a special Act by Parliament and came into operation in the year 1990.
4. Which is the penultimate body for financing to the MSME sector?
SIDBI is the primary financial institution or the penultimate body to provide or look after the financing needs of the MSME sector.
5. Can SIDBI be considered as a statutory body?
Yes, as SIDBI is formed/established under a special Act by parliament, it can be considered as a statutory body.
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