SWIFT scheme
The SWIFT scheme is a working capital assistance programme offered by SIDBI for Micro, Small & Medium Enterprises . Its purpose is to help MSMEs manage their working capital needs such as raw-material procurement, inventory, receivables through an overdraft facility or similar credit line. Your business can benefit by accessing timely working capital finance under SWIFT, enabling better cash-flow management, meeting orders, scaling operations and improving competitiveness.
Key Features
- Working-capital (overdraft) facility tailored for MSMEs: Under SWIFT, the credit product is designed specifically for working-capital need rather than long-term capex. This helps you as an MSME manage day-to-day operational finance.
- Multiple banking platform choice / streamlined process via SIDBI: The scheme allows you to apply via banks participating with SIDBI; you have choice of platform and process is intended to be more accessible.
- Focus on MSME enterprises (including first-generation, growth-oriented units): The scheme targets MSMEs that have working-capital needs; so if your enterprise is registered as MSME and you need working-capital, you are in scope.
- Support for domestic manufacturing and service sector MSMEs: While manufacturing gets clear focus, service-sector MSMEs may also qualify depending on bank/lender norms under SWIFT. (General MSME finance context)
- Possibility of collateral-light/efficient processing (depending on bank/lender): While not guaranteed for all, the scheme emphasises facilitating working-capital flow; banks may rely on cash-flows, receivables, inventory rather than heavy collateral only.
Financial Assistance
Eligibility Criteria
Who can apply:
- Micro, Small & Medium Enterprises (MSMEs) registered under the MSME classification which require working capital / overdraft support.
- Units with credible business operations, likely with registration (such as Udyam or earlier) and bank linkage; must satisfy creditworthiness checks by SIDBI.
- Likely open to both manufacturing and service MSMEs (as many SIDBI schemes are).
Who cannot apply:
- Enterprises with poor credit history or significantly delayed loan repayments may be disallowed.
- Units outside MSME classification or without requisite registration/documentation may be ineligible.
- Using the overdraft facility for purposes not aligned with scheme intent (e.g., speculative investments) may cause disqualification.
Documents Required
- MSME registration certificate (Udyam or earlier)
- Bank account statements (typically last 6-12 months) showing business operations.
- Credit history / prompt repayment record (if any existing loans).
- Business activity proof (manufacturing or service), business address, GST registration (if applicable).
- Application form to SIDBI for overdraft under SWIFT scheme.
- Any board resolution/partnership deed if applicable; KYC of promoters/directors.
Application Process for the Scheme
Option 1: Apply with Bullit (Recommended)
Click here to start with guided support. Our team verifies eligibility, compiles documents, and handles application & follow-ups on your behalf. You can monitor progress while focusing on operations.
Recommended for: Lean teams. Designed to save you time and effort. Access expert help from start to finish.
Option 2: Government Process via SIDBI
- Approach SIDBI (or their branch/NBFC partner) with intent to apply under SWIFT scheme.
- Prepare required documentation: MSME registration, bank statements, business plan/ cash flow show, etc.
- Submit application: The SIDBI evaluates eligibility, creditworthiness, and risk profile.
- Upon sanction, an overdraft facility is provided; monitor usage and comply with scheme terms.
- Repayment and facility maintenance as per agreed terms with SIDBI.
Option 3: Via Bank/NBFC Referral
Some commercial banks/NBFCs may refer qualified MSMEs to SIDBI’s SWIFT scheme; MSMEs may approach their lender to check eligibility and referral possibility.