SIDBI, Google tie-up for loan programme targeted at micro-enterprises

SIDBI has entered into a collaboration with Google for having a social impact lending programme. The program entails financial assistance up to ₹1 crore at competitive interest rates targeted at micro-enterprises.

The collaboration brings a corpus of $15 million to micro-enterprises. This envisages a loan program targeted at micro-enterprises (having turnover up to ₹5 crores), with loan sizes ranging between ₹25 lakh to ₹1 crore, being implemented by SIDBI.