BankSIDBI (Bank) Verified 2026-07-05

SIDBI Loan for Purchase of Equipment for Enterprise's Development (SPEED)

Term loan to finance purchase of equipment/machinery, with up to 100% financing. Up to Rs 1 crore for new-to-bank borrowers and up to Rs 2 crore for existing SIDBI borrowers, with direct payment to OEM.

Maximum benefit value

₹2 Cr

Eligibility

  • Existing MSME units with minimum 3 years of operation
  • Net profit and satisfactory sales & cash profit in the last two years
  • New-to-bank: machinery from OEMs with whom SIDBI has an MoU; existing customers: any OEM
  • Second-hand/refurbished machines not eligible

How to apply

Apply through SIDBI's online loan application portal or branch; direct payment made to OEM. Fast-track sanction/disbursement.

Required documents

  • Udyam registration
  • Financial statements (last 3 years)
  • Equipment quotation / OEM details
  • KYC of promoters

Official sources

Verification notes

SPEED verified as a SIDBI machinery-loan product on sidbi.in/machinery-loan. Loan amounts (up to Rs 1 cr NTB / Rs 2 cr existing) and OEM-linked terms per SIDBI-published/press material; maxValueInINR set to the Rs 2 crore existing-borrower ceiling. [AI-gathered from official sources on 2026-07-05; needs team review]