SIDBI Assistance to Re-Energize Capital Investments by SMEs (ARISE)
ARISE Scheme was launched to facilitate the flow of credit to small and medium-sized enterprises (SMEs) to develop their existing units. The purpose of this program is to offer financial assistance to borrowers for the purchase of equipment or land to expand their enterprises.
The Objective of ARISE Scheme
The maximum loan available in this scheme is up to Rs 50 crore, subject to a maximum of 80% of the project cost.
The interest rate for this scheme starts at 7.25% per annum.
SIDBI offers a repayment period of up to 7 years, including a moratorium period of up to 2 years.
Note: Borrowers who have taken a loan from another bank can still apply for this scheme. If their project is feasible.
Eligible MSMEs can visit the SIDBI website and proceed to the online application page to apply for the scheme.
The Online Registration Login page tab will appear. The applicant will click on it to register as a new user. Applicants must provide the enterprise name, phone number, email, and proposed total loan requirement. After successful registration, a username and password will be provided.
After logging into the portal, the applicant must complete the one-page application and built-in checklist, and upload all the required documents.
Borrowers can contact SIDBI by visiting the nearest branch. Sidbi will approve the loan application after conducting official due diligence.