Sidbi had offered to create a venture capital fund to offer fast financing for the small and medium enterprises and the first such offer has been made to the Association of Industries of Madhya Pradesh (AIMP), which will decide on the proposal in its managing committee meeting. A Sidbi delegation had met the office bearers of AIMP and had executed an MoU for providing fast and easy financing to SMEs. According to AIMP, the officers of SIDBI alone have been carrying out the entire financing process, but after the creation of the joint venture capital fund, two representatives of the AIMP will also assist in funding the SMEs. The AIMP representatives will help in processing of the loan and in lieu of that Sidbi will give 50% of its loan processing fee to AIMP.
