SDIBI has launched a financial assistance scheme for growing startups to meet their working capital requirement for salaries, vendor financing, supply chain financing, etc. in the wake of COVID-19 pandemic. The scheme’s objective is to provide support to the Govt. of India defined startups whose cash flow and liquidity has been adversely impacted. The loan can be upto INR 2 crore per startup. The scheme also provides insurance coverage for employee’s life and the loan itself which is a great value proposition for the startups. SIDBI aims to support more than 100 startups with the scheme. We congratulate SIDBI(Small Industries Development Bank of India) and SIDBI Venture Capital Ltd.

Avaana Capital was delighted to provide help in conceptualizing the scheme with SIDBI. http://sidbivcf.in/en/csas