SMILE was launched during the FY 2015-16 as an INR 10,000 crore fund by SIDBI, in line with the GoI’s ambitious ‘Make in India’ initiative. The target sectors under SMILE include all the identified 25 Make in India sectors as indicated by the GoI for the Make in India Programme.

Objective: The objective of the scheme is to offer soft loans in the nature of quasi-equity so as to meet the required debt-equity ratio to facilitate the term loan on relatively soft terms for MSME’s. Loans extended under the scheme cannot be used for repayment of earlier loans.

Eligible Enterprises: New / Existing enterprises in the manufacturing as well as service sector undertaking expansion, to take advantage of new emerging opportunities, as also undertaking modernization, technology upgradation or other projects for growing their business will also be covered. The applicant must achieve minimum internal investment grade rating of SIDBI

Minimum Loan Size- Rs. 25 lakh

Rate of Interest: Attractive Interest Rates starting from 8.36%* onwards

Repayment Period: Upto 120 months

*Indicative rate for 5 year term loan for SIDBI’s internal rating grade of C6

Important Links: