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SIDBI Unveils New Term Loan Scheme for MSMEs hit by COVID-19

By Rahul Kamat,

Added 01 July 2021

India’s principal financial institution for MSMEs - Small Industries Development Bank of India (SIDBI) has unveiled a revamped version of its liquidity scheme.

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India’s principal financial institution for MSMEs - Small Industries Development Bank of India (SIDBI) has unveiled a revamped version of its liquidity scheme. SIDBI will work to provide liquidity support by urgent infusion of funds through its new Direct Finance Window (LIQUID) 2.0. For its existing customers, SIDBI has brought in LIQUID 2.0 under which it will be providing term loans for the purpose of executing new orders, purchase of raw materials, equipment, clearing unpaid creditors etc. The bank added that MSMEs will also get the assistance of up to 20 per cent of their highest outstanding in the previous 12 months subject to a maximum of Rs 1.5 crore and aggregate exposure of Rs 2.5 crore under the first and second versions of the new liquidity scheme. The unique features of LIQUID 2.0 are zero contribution from the promoters of the enterprise, Subsidised interest rate, low processing fee, no prepayment charges, simplified process, quick sanction and faster disbursement.

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