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Google and SIDBI launch $15 Mn worth loan program for MSMEs in India

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Google announced $15 million debt capital to support Indian MSMEs in partnership with SIDBI. The program will target microenterprises having turnover up to Rs 5 crore to provide loan sizes ranging between Rs 25 lakh to Rs 1 crore.

Eligible firms can use the loan to finance purchases of new equipment and machinery, scaling their production infrastructure and fulfilling their working capital needs.

The program will prioritize women-owned businesses and those that are engaged in production of equipment for the country’s fight against the pandemic.

The multinational tech company had already committed to invest $10 billion in India over the course of five to seven years.

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Google and SIDBI launch $15 Mn worth loan program for MSMEs in India

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Below is the bank details:

 
Amount: INR 3,00,000 + GST (TDS to be deducted 2%)
Bank Name: ICICI Bank
Account Type: Current
Account Name: Bareback Media Private Limited
Account Number: 002105023595
IFSC Code: ICIC0000021
 
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