SIDBI SMILE — Make in India Soft Loan Fund for MSMEs — Frequently Asked Questions

SIDBI SMILE is a soft-loan program for MSMEs run by the Small Industries Development Bank of India (SIDBI). It provides below-market-rate debt to manufacturing and select service sector enterprises.

Loans start from ₹10 lakh. There is no stated upper limit, so the amount depends on the project's viability and SIDBI's appraisal.

The program has a rolling application process and is always open. There is no fixed deadline.

New and existing MSMEs registered under Udyam in manufacturing or select service sectors are eligible. Priority is given to Make in India focus sectors and to enterprises that lack a formal bank credit track record.

It is a soft loan, not a grant or equity. The loan must be repaid, but at below-market interest rates. SIDBI does not take any equity stake.

You will need your Udyam Registration certificate, a project or business plan, and financial statements. Additional documents may be requested during appraisal.

Applications are submitted online through SIDBI's official portal at www.sidbi.in or by visiting a SIDBI branch office. The process involves submitting the required documents, after which SIDBI appraises the application.

Udyam registration (MSME) is required. DPIIT registration is not specifically mentioned as a requirement.

Apply directly through the official application link on this page. Review the eligibility criteria and prepare your startup documents before you begin.