Google ties up with SIDBI to launch $15-M loan program for MSMEs

Google has announced a USD 15 million debt capital to support Indian MSMEs in partnership with Small Industries Development Bank of India (SIDBI). The program will target microenterprises having a turnover of up to INR 5 crore to provide loan sizes ranging between INR 25 lakh to 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 fight against the pandemic.