She Innovate Forum

A Project Funded by RUSA 2, T5J Major Project, CUSAT

TULIP Scheme (Top-Up Loan for Immediate Purposes)

Scheme Sponsor: SIDBI
Mode of Assistance: Funding Support/Fund raising Assistance
Target Group: Export oriented MSMEs


About the Scheme:

Under the TULIP Scheme (Top-Up Loan for Immediate Purposes), current MSMEs having
exposure to SIDBI may apply for a top-up loan for their immediate needs. Funding is
provided for the purchase of machinery and equipment, renovations and civil construction,
procurement of DG sets, and emergency funds needed to carry out orders from government
agencies or BBB businesses.
The disbursement occurs within a few days of the application, and no extra security is
requested. The program’s goal is to offer top-up loans for short-term needs (TULIP). This is a
SIDBI program that offers financial support to businesses at a faster approval time of seven
days and without the need for extra collateral security (other from SIDBI FD).


Assistance Pattern:

  • A minimum quantum of assistance should be 30% of existing exposure and 20% of net sales.
  • The maximum amount of Rs. 2 crores can be acquired to fulfill the working capital requirements.

Requirements for Application:

  • Income Tax Returns of promoters with IT assessment order for previous 3 years.
  • List of proposed and existing stakeholders & holding pattern with the name of stakeholders, etc.
  • KYC proof of new directors (for an individual)
  • KYC proof of mortgagors, guarantors.
  • Proof of address if there is any change in the address of registered factories or office.
  • Previous 3 years of annual accounts of the borrower units.
  • Memorandum of Association of the borrower’s company, copy of registration certificate along with the registration of firms, and partnership deed of the borrower (if registered).
  • Annual accounts of the associate concern, corporations giving the guarantee, group companies.
  • Income Tax Return of guarantors with IT assessment order for the last 3 years.
  • Recent electricity bill and power sanction letter of existing units.
  • Articles of Association and Memorandum of Association of corporations giving a guarantee.
  • Duly filled out electronic application form and profitability projections.
  • Copy of approved building plan.
  • Estimation of architects for civil works.
  • Multiple banking arrangements – Annexure
  • Quotations for miscellaneous fixed assets, plant and equipment, and other project heads, etc.

Apply on: https://onlineloanappl.sidbi.in/OnlineApplication/
More Information on: https://www.sidbi.in/