SIDBI INITIATED SHWAS AND AROG SCHEMES UNDER THIS PANDEMIC TIME

  • SIDBI has launched two loan programs for micro, small, and medium-sized enterprises (MSMEs) to assist them with the required financial support in the battle against the COVID-19 outbreak. Thanks to these two new fast credit distribution schemes, MSMEs will access financing for manufacturing and services related to the procurement of oxygen tanks, oxygen concentrators, oximeters, and critical medicines.
  • SIDBI is implementing these new programs to help MSMEs swiftly developing their facilities, which will help the country tackle the disease.

The two new loan programs:-

  1. AROG:- MSMEs that manufacture pulse oximeters, approved medications, ventilators, and personal protective equipment will be eligible for this funding.
  2. SHWAS:- This program will provide funding to MSMEs that manufacture oxygen cylinders, oxygen generators, oxygen concentrators, and liquid oxygen and offer transportation facilities, storage, and refilling facilities for these products.
  • The programs were developed with the support of the Government of India (GoI), and they make it easier to finance the manufacture and delivery.

Eligibility Criteria for AROG (ASSISTANCE TO MSMES FOR RECOVERY & ORGANIC GROWTH)

  • In the most recent audited financial statements, existing customers – cash benefit (i.e., FY 2020).
  • In the last two years, additional SIDBI customers have resulted in a cash profit.
  • Exceptional Credit history with current bankers and financial institutions (FIs).

Eligibility Criteria for SHWAS (SIDBI ASSISTANCE TO HEALTHCARE SECTOR IN WAR AGAINST the SECOND WAVE)

  • Existing Customers – Benefit in cash in the most recent audit reports financial statements (i.e., FY 2020)
  • In the last two years, SIDBI has added new clients, resulting in a cash profit.
  • It is essential to have a credit record with a present banker / financial firm.

Amount Of Loan And Interest Rate For AROG:-

  • Term loan for the buying of machinery or equipment
  • Capital Expenditure is a term used to describe the amount Purchase of raw resources or fulfillment of verified orders with a term loan
  • A maximum loan of 2 crore
  • Return on investment 5.5% to 6% per annum

Amount of Loan and Interest Rate for SHWAS:-

  • Term loan for the buying of machinery or equipment
  • Working Capital is a term used to describe the amount Buy of raw resources or fulfillment of verified orders with a term loan a maximum loan of 2 crore
  • Return on investment 4.5% to 5% per annum
Some Extra Features:-
  • Time of repayment Term Loans is available for up to 60 months. WCTL – For a period of up to 18 months
  • A twelve-month moratorium is added.
Documents for Both Schemes:-
  • Documentation for an easy loan
  • To acquire supplies, machines, MFAs, and raw materials, the balance is paid directly to the provider.
Application:-
  • The application is just one page long.
  • Proper research and standard KYC scans.
  • After receiving the mandatory details, the sanction is issued within 48 hours.
Attractive Part of AROG Scheme:-
  • Financing is available up to 100%.
  • Choice with very low collateral.
  • There is no payment charge.
  • Desirable interest Rates.
  • Loan Assurance is also a choice (Charges to be borne by SIDBI).
Attractive Part of SHWAS Scheme:-
  • Financing is available up to 100%.
  • There is no payment charge.
  • Desirable interest Rates.
  • Credit Assurance is also a choice (Charges to be borne by SIDBI).

Official Announcement for Schemes:-

“The Endeavour is to provide financial services to respectable MSMEs that have grown to the opportunity in protecting the people in this time of need by holding their operations operational and providing medical care at all stages,” stated SIDBI Chairman and Managing Director on this subject.

Given the ongoing harm caused by a corona virus and the fact that it is a national emergency, SIDBI has developed these schemes to aid medical professionals in their battle against the deadly virus.

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