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2014-06-09

SIDBI offers collateral-free loans to supports MSMEs

SIDBI has covered over 14 lakh units under the credit guarantee fund scheme for MSMEs, according to N.K. Maini, Deputy Managing Director, SIDBI.

Small Industries Development Bank of India (SIDBI) has covered over 14 lakh units under the credit guarantee fund scheme for MSMEs, according to N.K. Maini, Deputy Managing Director, SIDBI.

 

During the inauguration of INTEC 2014, he said that through the credit guarantee fund trust SIDBI has tried to create a culture of lending to MSMEs based on the strength of their project and not on the strength of the collateral.

 

It disbursed Rs 52,000 crore loans to over 12 lakh MSMEs last financial year which included direct finance, refinance and micro finance. It has also sanctioned loan for an industrial estate that Coimbatore District Small Industries’ Association (CODISSIA) plans to set up here on about 500 acres.

 

SIDBI is focusing on receivable financing and has covered over 10,000 units last financial year under receivable finance. The other areas of focus are risk capital, service sector, micro financing, and sustainable development of MSMEs.

 

P.N. Balasubramanian, Chairman, INTEC 2014, said that industries are positive of growth with a new Government at the Centre.

 

R. Ramachandran, President, CODISSIA, said that trade fairs and expos help improve the economy and enable units to upgrade technology.

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