Sidbi Provides Full Financing for MSME Green Initiatives

Sidbi, the national development bank specializing in refinancing loans for small businesses, has introduced a new credit scheme in collaboration with Tata Power to boost energy-efficient and eco-friendly business practices. Under this scheme, Sidbi is offering eligible MSMEs (Micro, Small, and Medium Enterprises) loans of up to Rs 7.5 crore without imposing processing fees. Instead, they require a 25 percent margin money as security.

Sidbi is actively encouraging MSMEs to leverage their financial schemes to implement solar energy solutions and adopt energy-efficient machinery and processes. They are willing to provide 100 percent financing for rooftop and ground-mounted solar power projects, offering attractive interest rates as low as 7-8 percent, depending on the applicant's credit rating.

This initiative is aimed at promoting environmentally friendly and sustainable business operations to safeguard the environment, as highlighted by Jay Kumar Gupta, Deputy General Manager of Sidbi, during an MSME financing event hosted by the World Trade Centre and the All India Association of Industries.