The Managing Director/CEO/Director/Partner/General Manager
All FHRAI Members of Uttar Pradesh
CC: All Members of the Executive Committee
All Regional Associations
President FHRAI
SUB:- SIDBI FINANCE SCHEMES SPECIALLY DESIGNED FOR HOTELS AND RESTAURANTS
Dear Member,
We are pleased to inform you about the financial assistance opportunities available through the Small Industries Development Bank of India (SIDBI) to support the growth and modernization of Micro, Small, and Medium Enterprises (MSMEs). These schemes offer attractive interest rates and flexible repayment terms to help your business to develop.
The key highlights of these schemes are bulleted as under :
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Assistance for Modernisation & Renovations of Hotels, Restaurants and other Enterprises in MSME Sector
(MORE) Scheme
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Assistance for Purchase of DG Set for Cleaner Environment
(EDGE) Scheme
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1. Basic Eligibility Criteria : Existing MSME unit with at least 3 years operations and recorded cash profit during last 3 FY with Net Profit in the immediate past FY.
2. Comprehensive Support : Financing for tangible assets like interiors, equipment, furniture, and civil renovations.
3. Financing Options : Term loans upto Rs.5 crore, covering upto 80% of capital expenditure.
4. Swift Sanction : Online application with Swift sanctions and disbursement.
5. Supportive Terms : Flexible repayment upto 8 years, including a 12 month moratorium
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- Basic Eligibility Criteria : Existing MSME unit with at least 2 years operations and recorded cash profit and Net Profit in immediate past FY.
- Comprehensive Support : Financing for purchase of DG Set.
- Financing Options : Term loans upto Rs.3 crore. Dual financing model:- 1. 100% financing with nil contribution under CGTMSE or with 10% FDR. 2. Promotor contribution model with upto 90% finance.
- Swift Sanction : Online application with Swift sanctions and disbursement.
- Supportive Terms : For DG sets purchase by exchange of older DG sets, promotor contribution to be reduced to the extent of exchange.
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We encourage you to explore these schemes and take advantage of the financial support available.
For more details and to initiate the application process, please contact the nearest SIDBI Branch Office in Uttar Pradesh (List Enclosed)
With best regards,
Jaison Chacko
Secretary General
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The Federation of Hotel & Restaurant Associations of India
Regd. Off.: B-82, 8th Floor, Himalaya House, 23 K.G. Marg, New Delhi - 110 001
Tel.: 011-40780780, Email: fhrai@fhrai.com, Website: www.fhrai.com