Sidbi Offers 100% Funding For MSME Green Projects
SIDBI lends up to Rs 7.5 crore to eligible MSMEs without charging processing fees by taking 25% margin money as security to promote energy efficient and green business operations to protect the environment
Sidbi, the national development bank focused on refinancing loans to small businesses, on Monday said it will offer 100% financing to MSMEs' green energy and other clean projects.
"We want MSMEs to avail of our various financial schemes for installing solar energy and adopting energy-efficient machinery and business processes. We are ready to extend 100% loan at an interest rate as low as 7-8% (depending on their credit ratings) to install rooftop and ground-mounted solar rooftop power projects," Jay Kumar Gupta, a deputy general manager of the lender said at an MSME financing event on Monday.
Sidbi lends up to Rs 7.5 crore to eligible MSMEs without charging processing fees by taking 25% margin money as security under our new credit scheme in partnership with Tata Power to promote energy efficient and green business operations to protect the environment, Gupta said at the event organised by World Trade Centre and All India Association of Industries.
