The Small Industries Development Bank of India - SIDBI announced that the SIDBI Assistance to Facilitate Emergency response against Corona virus (SAFE PLUS) will be offered collateral free and disbursed within 48 hours.
The loans will be offered at an interest rate of five per cent. the limit of SAFE loans has been enhanced from 50 lakh rupees to two crore rupees.
The scheme was launched to provide financial assistance to MSMEs engaged in manufacturing of hand sanitizers, masks, gloves, head gear, bodysuits, shoe-covers, ventilators and goggles used in dealing with COVID-19.
Important Info :
Small Industries Development Bank of India (SIDBI) set up in 1990 under an Act of Indian Parliament, acts as the Principal Financial Institution for Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector.
It is Headquartered in Lucknow, Uttar Pradesh.
Source : All India Radio