SIDBI SMILE & MSME Term Loans
Offered by SIDBI (Direct Lending)
Overview
SMILE (SIDBI Make in India Soft Loan Fund for Enterprises) is a scheme run by SIDBI (Small Industries Development Bank of India) to encourage MSMEs to actively participate in the Make in India campaign. SIDBI also offers general MSME term loans and other direct-lending products through its website and the SIDBI 4U digital lending portal, with sanctions advertised as quick as 48 hours in a largely paperless process.
Eligibility
- Enterprise must fall under the MSME Act, 2006, in the manufacturing or service sector, including new enterprises
- Emphasis on enterprises operating in the 25 sectors identified under the Make in India initiative
- Must hold a valid Udyam Registration and, where applicable, GST registration
Funding Purpose
SMILE loans provide quasi-equity and term loan assistance so MSMEs can meet the required debt-equity ratio for setting up new enterprises or for expansion, and general SIDBI MSME term loans fund machinery purchase, project costs, and working capital needs.
Application Process
Applicants apply through SIDBI's Online Loan Application portal (onlineloanappl.sidbi.in) or directly with SIDBI branches. Loan amounts under SMILE are a minimum of 50 lakh rupees for new enterprises and 25 lakh rupees for existing enterprises. Interest rates run 9.15% to 9.35% per annum for the first three years and 11.70% to 12.70% per annum from the fourth year, with repayment up to 10 years including a 36-month moratorium.
How to Apply
- 1Click "Apply Now" above and submit your application directly on the official page.
- 2The offering organisation screens applications against its own eligibility criteria.
- 3Shortlisted applicants may be invited to a pitch or interview round.
- 4The final decision rests solely with the offering organisation.
- 5There is no guarantee of funding at any stage.
Before You Apply
- ZeedFund is an independent tracker, not the offering organisation or a funding body.
- Verify current eligibility, funding amount, and deadline on the official page before applying. Details can change after we last verified them.
- Once you apply, all follow-up (screening updates, interview or pitch invites, and the final decision) comes directly from the facilitator, incubator, or investor, never from ZeedFund. Check their application portal or email yourself for status updates; we won't have visibility into it.