A digital offering of SIDBI

With a view to enlarge its foot print in delivery of products and services in MSME eco-system, a series of digital delight initiatives involving various portals such as sidbi.in, smallb.in, sidbistartupmitra.in, standupmitra.in has been launched by SIDBI in the recent past. SIDBI Udyamimitra [www.udaymimitra.in], happens to be a new addition as another interactive portal. It is an enabling platform which leverages IT architecture of Stand-Up Mitra portal and aims at instilling ease of access to MSMEs financial and non-financial service needs.
Gains
  • Any type of enterprise loans – MUDRA ( upto 10 lakh) Stand-Up India Scheme for SC/ST and Women- 10 lakh to 100 lakh, SME loans ( presently upto 2 crore)
  • Business ideas and knowledge pool from smallB.in
  • Credible Connect- Access to 1.25 lakh bank branches and 17000+ handholding agencies ( for application filing, financial training, skill training, access to margin money/subsidy and so on) .
  • Decide – Chose the preferred banks in your area.
  • Enablers-
  • Market place offering wider access- One application is available for all participating banks.
  • Online application – Access enabled to apply any time & from anywhere - Standardised application forms acceptable across the country, available freely.
  • Track your proposal- responsiveness is assured.
Key Features
The Portal, as a virtual market place endeavors to provide 'End to End' solutions not only for credit delivery but also for the host of Credit-plus services by way of hand holding support, application tracking, multiple interface with stakeholders (i.e. banks, service providers, applicants). The important features include

II. Matchmaking platform- It provides a unique match making platform to MSME loan seekers, lenders as also handholding agencies. The portal has designed capability to accept varied MSME loan applications. Presently loans upto 2 crore can be accessed. The portal aims to be a crucial interface layer to create a support system involving varied stakeholder

III. Inclusive Access to all - It provides access to both financial ( 1.25 lakh bank branches) and non financial services (17000+ handholding agencies) with three distinct features viz. (i) Seek Handholding support; (ii) select and apply for loans to preferred banks; (iii) enable faster loan processing.

On entering Portal, the user is guided for registration and login. Based on information furnished by a prospective entrepreneur the system categorizes the applicants into ‘trainee’ (those needing training or other help before they are ready for entrepreneurship) and ‘ready’ borrowers (borrower feels he/she is ready to approach lenders for loan). It then guides them to access handholding support or direct loan application module as per their requirement.

Ready Borrower can submit its loan application online with instant acknowledgement through SMS/email. The submitted application flows to the preferred bank as selected by the loan applicant with online notification to the Nodal Officer of the bank as also Lead District Managers. It facilitates