Eligibility criteria for project appraisal include a restricted list of preapproved equipment, as well as other standard financial criteria (a minimum end-borrower’s contribution which is different for existing and new units, a maximum debt to equity ratio, minimum asset coverage, etc.). By using simple eligibility criteria the project approval process was streamlined and allowed from loans to be approved and disbursed quickly. As of January 2017, the project was in its third phase, with phase I and II having provided finance to close to 5 000 MSMEs.