SMILE---The interest-free seed fund from SBI
February 16, 2010 | COMMENTS ( 8 )
The State Bank of India’s new scheme SMILE might bring a smile to the face of entrepreneurs. Under the scheme the bank will provide interest-free seed capital of about Rs 10 lakh to aspiring entrepreneurs.
The scheme aims to benefit the small and medium enterprises (SMEs) of the nation, especially when the sector has not been able to raise enough funds during the financial crisis.
Presently, the loan amount given by the banks comprises 70-80 per cent of the project cost and is given only when the entrepreneur has enough capital to invest. But with the new scheme SBI will provide seed capital. There will not be any changes in loan terms and interest rates. Though there will be no interest charged on the seed capital and the amount can be repaid after repaying the loan.
Other NEWS
Delhi based startup i2e1 raises $5,...
December 10, 2015Delhi-based i2e1, a smart network player platform which aims to provide low-cost and free internet to consumers and actionable ana....
Cab aggregators collaborate with st...
November 06, 2015Ola and Uber, cab aggregators have signed agreements with Rajasthan government for skill development and creation of entrepreneuri....
Phase II of startup incubator T-Hub...
November 04, 2015Telangana government is planning to expand T-Hub, its ambitious incubator programme, in its second phase with about Rs 150 crore i....
Sabse Technologies receives investm...
November 04, 2015Global telecom carrier, Sabse Technologies Inc, started by Hotmail Founder Sabeer Bhatia today announced that Tata Sons' Chairman ....
Mobile startup BlackNGreen seeks in...
November 02, 2015Buoyed by a strong demand for value added services, mobile startup BlackNGreen is eyeing revenue of Rs 350 crore in the next one y....
Startups seek better future under H...
October 30, 2015Global management consultancy, Hay Group will help 100 selected entrepreneurs transform their startups into successful companies o....
Quintype raises USD 3.25 million fo...
October 27, 2015Quintype, a data-driven publishing company raised USD 3.25 million to enhance product and business development. ....
Hospitality aggregator startup Qik ...
October 27, 2015Delhi-based Qik Stay, a hotel branding and aggregator startup, has raised $250K in seed round of funding from venture capital firm....
Milk Mantra targets a turnover of R...
October 26, 2015Odisha-based startup dairy firm, Milk Mantra is targeting a turnover of Rs 150 crore this fiscal.....
Vista Rooms creates app on Instagra...
October 23, 2015Mumbai-based online budget accommodation aggregator, Vista Rooms has created an app-like experience on Instagram where travellers ....
Jiyo Natural receives funding from ...
October 23, 2015Indian Angel Network (IAN) has invested an undisclosed amount in Bengaluru-based consumer health food startup, Jiyo Natural.....
Vodoo raises USD 1 mi...
October 15, 2015Deals and price comparison application, Vodoo has raised USD 1 million (around Rs 65 lakh) from SAIF Partners in a seed funding ro....
IBM launches public data centre in ...
October 15, 2015Technology giant, IBM today launched public data centre in Chennai to tap into growing demand from financial services and governme....
For Nasscom, PPP will boost startup...
October 14, 2015In the wake of some reservations over the central government creating startup funds, Nasscom's "10,000 startups" Vice President, R....
WalmartLabs to seek partnership wit...
October 14, 2015WalmartLabs, the digital arm of US-based retailing major Walmart Stores, is scouting for startups in India for partnership and wor....
Please add your comment
shyam bindal
May 08, 2013 at 10:07 pmi want to grow my busienss and how i cna opne franchies
Reply |
SATISH CHANDRA
February 08, 2011 at 8:53 amPLEASE GIVE DETAILs SBI FRANCHISEE & CUSTOMER SERVICE POINT VILL & POST-BUDHIPUR DISTT-BALRAMPUR [U.P.] PIN-271306 M.N. 9838436564
Reply |
shailendra kumar singh
November 22, 2010 at 6:36 amwho will get it and what is the process to get this loan contact member@franchiseindia.com
Reply |
puneet kr. mishra
June 21, 2010 at 11:40 amplz tell me smile scheme in detail. thanxxxxxxxxx
Reply |
sujatha rani b c
June 09, 2010 at 8:10 ama smile to women entrepreneurs.
Reply |
Jeevan Patil
June 08, 2010 at 12:32 pmvery nice 1
Reply |
vinod kumar
May 24, 2010 at 3:30 ami would like to know about the 'SBIsmile'. Please inform to get a LOAN from your side. THANKING YOU VINOD KUMAR [9717781092] 169,TEKHAND OKHLA PH- 1 NEW DELHI-20.
Reply |
Binod Kumar Homagai
March 30, 2010 at 7:52 amThis is wat I need to grow my business.
Reply |
