SIDBI Thematic Assistance for Purchase of Capital Assets in New Enterprises (STHAPAN)

SIDBI Thematic Assistance for Purchase of Capital Assets in New Enterprises (STHAPAN) 

SIDBI has launched the "STHAPAN SCHEME" to support new entrepreneurs and greenfield projects. The reason for launching this scheme is to facilitate easier access to credit for all new projects and greenfield projects. Under this scheme, SIDBI provides financial assistance to all its borrowers to help them develop their units by purchasing land or equipment. 

Objective

The objective of SIDBI's STHAPAN Scheme is to support new and existing MSMEs for purchasing growth opportunities. 

Key Features

• The STHAPAN scheme offers an attractive return on investment (ROI),
• Also the loan sanction process is quick

Eligible Enterprises

• Micro, Small & Medium Enterprises (MSME)
• The high growth/sunrise sector and other important sectors are eligible.

Eligibility Criteria 

• New Enterprises and Greenfield Units are eligible for this scheme.
• MSME units should have been in operation for at least 5 years and should have stable sales and cash profit.
• To qualify for financial assistance under the STHAPAN scheme, the promoters must contribute a minimum of 25% of their own funds.
• Standard norms will apply to all units in this scheme. Like CIBIL/CMR, due diligence will be conducted to check everything.

Quantum of Assistance 

Under SIDBI's STHAPAN Scheme, a loan of up to Rs. 2000 lakh will be provided to the borrower, but only a maximum of 75% of the project cost will be covered. The financial assistance will be provided in the form of a term loan. 

Interest Rate 

The interest rate for STHAPAN loans will range from 6.00% to 7.30% per annum. 

Repayment Period 

SIDBI's STHAPAN Scheme offers a 7-year repayment period, including a 2-year moratorium period. 

Documents Required 

• Machinery (quotation)
• KYC documents
• Statements of immovable properties owned by promoters and directors
• Copy of Memorandum of Association/Partnership Deed/Trust Deed
• Copy of consent to establish from PCB
• Documents showing existing power load
• If there is any application file for additional power load then copy it.
• Copy of rent and lease agreement
• Details if any loan is taken from any other bank and details of outstanding loan amount
• Copy of Udyog Aadhaar Memorandum
• Copy of GST Registration Certificate
• Identity proof documents
• Address proof documents

Application Procedure 

• To eligible MSME enterprises should approach the concerned branch for the loan.
• The applicant has to apply along with the KYC Application Form and the entire set of supporting documents.
• After details are verified, SIDBI will approve the loan, and the loan amount will be credited into the beneficiary's account.