SIDBI Make in India Soft Loan Fund for MSMEs (SMILE)
Soft loan in the nature of quasi-equity and term loan on soft terms to meet the required debt-equity ratio for setting up new MSMEs as well as for expansion, modernisation and technology upgradation of existing units. Aligned with the Government of India 'Make in India' initiative.
Maximum benefit value
₹1 Cr
Eligibility
- New enterprises in manufacturing as well as services sector
- Existing enterprises undertaking expansion, modernisation or technology upgradation
- Covers all 25 Make in India identified sectors
How to apply
Apply online through SIDBI's online loan application portal (onlineloanappl.sidbi.in) or via the Udyamimitra portal, or approach a SIDBI branch.
Required documents
- Business/enterprise registration (Udyam)
- Project report / DPR
- KYC documents of promoters
- Financial statements
Official sources
Verification notes
Verified on SIDBI official site. SMILE launched FY2015-16 as an INR 10,000 crore fund aligned to Make in India; soft loan/quasi-equity to meet debt-equity ratio; loan quantum generally up to Rs 100 lakh. Exact per-borrower cap can vary per bank guidelines; maxValueInINR reflects the commonly stated Rs 100 lakh ceiling. [AI-gathered from official sources on 2026-07-05; needs team review]