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SIDBI has launched a COVID-19 start-up assistance scheme
April 07, 2020
Small Industries Development Bank of India has started a coronavirus assistance scheme under which start-ups will get loans at the growth stage.
Under this scheme, start-ups that are facing a cash crunch due to the coronavirus outbreak will get investment investments from financial institutions.
Start-ups will get loans of ₹ 2 crores per start-up and the moratorium period will be of 12 months. Loans can be used for the payment of vendors, salaries of employees, rent and administrative expenses.
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