SIDBI recognizes the operational and financial challenges being faced by the start-ups and endeavors during COVID-19 Pandemic to provide financial assistance and stability via its scheme viz. Covid-19 Startup Assistance Scheme (‘CSAS’). Purpose: To provide interim support to startups whose cash flow and liquidity has been adversely impacted by the Covid-19 pandemic. The assistance can be used for various working capital requirements like salaries / wages, rent, administrative expenses, payment to vendors etc.
Eligibility: I. Government defined Start-ups which has received funding through atleast one of the Alternate Investment Funds registered with SEBI.
II. Startups with a minimum employee base of 50 employees. This may also include the foot soldiers. III. Startup should have been incorporated for less than 10 years
VI. Startups should have a positive Net Worth
VII. Startups should have demonstrated innovative measures for ensuring business continuity during the Covid – 19 period.
Funding Grant: Not more than INR 2 Crores per Start-up Upto 36 months including maximum moratorium period of 12 months. Loan to be repaid in max 24 instalments.