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SIDBI scheme

Subsidy & Non-Subsidy

Subsidy Applicable Scheme


What does it offer ? The customer gets 15% subsidy on the machine price (price including taxes)

Subsidy Applicable Scheme


Who is eligible for Subsidy ? Firm which is registered as a SSI (gross investment in plant & machinery is less than 5 crores) Machine to be financed should be Brand New Machine should be CNC / Microprocessor based. Conventional Machines are not eligible Taking Loan for Minumum 3 years is mandatory

Subsidy Applicable Scheme


Which Machines are eligible for Subsidy ? CNC Lathe Machines Plastic Injection Moulding Machines Wirecut Machines CNC Milling Machines

Subsidy Applicable Scheme


What should be mentioned on Machine Invoice to become eligible for subsidy In case of CNC Turning Center / CNC Lathe wording on Invoice should be CNC Lathe In case of Plastic Injection Moulding Machine wording on invoice should be Microprocessor based Plastic Injection Moulding Machine In case of VMC wording on Invoice should be CNC Milling Machine

Subsidy Applicable Scheme


Who is eligible for Subsidy ? The eligibility depends not only on the type of machine but also on the nature of Business Activity mentioned on SSI / MSME certificate This BUSINESS ACTIVITY should be verified from HO, to confirm whether it is suitable to be eligible for subsidy

Subsidy Applicable Scheme


What is the maximum subsidy amount ? Any firm/company can avail subsidy to the extent of 15 lacs in its entire lifetime ..i.e. upto machine value of 1 crore

Subsidy Applicable Scheme


The SIDBI scheme The scheme is the same SD scheme as of EFL, but . ..2 Agreements are executed :70% Machine Value (between Customer, SIDBI & EFL) 30% Machine Value (between Customer & EFL)

Subsidy Applicable Scheme


Benefits of SIDBI scheme to customer ..thru EFL Loan & 15% subsidy under one roof at EFL If he takes loan from Bank, he has to undergo 2 processes Loan Subsidy application

Subsidy Applicable Scheme


List of Machines where subsidy is applicable & general guidelines related to CLCSS subsidy can be viewed on following website
http://www.msmediagra.gov.in/writereaddata/clcssdetails08.pdf

This is a pdf file which can be saved

Guidelines for cases in SIDBI where subsidy is not applicable will follow now

NON-Subsidy Scheme
SSI / MSME Certificate to be taken - if available OR CAs certificate to be taken confirming the status of the firm as SSI

This can be offered Even when Subsidy is not applicable for that Type of machine

NON-Subsidy Scheme
What cannot be financed under SIDBI scheme - even without subsidy Second Hand Machines Refinance for machines already purchased by Customer from own funds Business Loans Machines with less than 5 lacs of SIDBI Loan value

Common for SUBSIDY & NON-Subsidy Schemes


70:30 Ratio where ever SIDBI Loan Value is upto 50 lacs The ratio will have to be revised in cases where SIDBI loan of 70% becomes more than 50 lacs revised such that the SIDBI amount is not more than 50 lacs. This ratio can be revised upto maximum of 55:45 Loan should be for Minimum 3 years

Common for SUBSIDY & NON-Subsidy Schemes

Loan should be for Minimum 3 years

Common for SUBSIDY & NON-Subsidy Schemes


SIDBI scheme can be given for Imported NEW machines also. In such cases
SIDBI can open LC (LC charges will be 2%) OR SIDBI will directly TT the amount to the foreign supplier and emi schedule of customer will start immediately. For this, Machine Supplier should be Standard & Acceptable to EFL for advance payment

Common for SUBSIDY & NON-Subsidy Schemes


Clarity to be given to Supplier & Customer 30% disbursement will be made by EFL and 70% payment will directly come from SIDBI to Supplier Though EFL will disburse within TWO days after all Customer compliances, it may take 5/6 days for the payment to come from SIDBI

Common for SUBSIDY & NON-Subsidy Schemes


SIDBI being a government organization, will not SANCTION or DISBURSE even if one document / compliance is pending So you have to ensure at Branch that you send everything 100% complete at one go.so that the TAT is reduced

HO Contact for all SIDBI cases


Contact Mr.Dhiraj Bolade for
Whether activity mentioned in SSI certificate is ok to get
subsidy

List of pre-sanction documents Any SIDBI Formats Submission of file to SIDBI for LOI & Disbursement You can also contact
Miss. Manasi Status of LOI Apte for Process Related queries

Disbursement cheque etc.