Hi Friends,
This is our second letter sharing the journey of Rebits — from our first step until where we stand today.
After finalizing our machines, the next challenge was finding a location for our recycling plant.
Since recycling comes under the orange category industry classification, we could not establish the plant just anywhere.
We needed a government-designated industrial zone where such industries were permitted and where all environmental approvals could be obtained legally and properly.
After several days of research and visits, we identified the Sarigam Industrial Area, particularly the plastic zone where recycling industries were allowed.
Luckily, within just 3–4 days of searching, we found a rented premises that matched almost all our requirements.
Without wasting a single moment, we finalized the property and paid the advance immediately.
At that stage, every rupee mattered. We requested the owner to support us with some rental concession for the first six months until production started.
Thankfully, he understood our situation and helped us generously. At that moment, we felt we had crossed one major hurdle.
But honestly, that was only the beginning.
To start operations, we first needed approvals from the Pollution Control Department and had to fulfill multiple compliance requirements.
Documentation, inspections, permissions, technical clarifications — everything moved slowly.
It took almost two months, but fortunately we finally received our CTE (Consent to Establish).
Now came the next phase — bank funding.
We genuinely believed this would be the easier part. The Government of India actively promotes startup support schemes, collateral-free opportunities, and innovation-based financing.
In our case, we were even taking the loan against machinery hypothecation, so we thought the process would be straightforward.
Reality was completely different.
We first approached private banks where we already had accounts and strong financial credibility. But the answer was immediate: “Minimum 3 years balance sheet required.”
We explained repeatedly: “We are a startup. If every startup already had a 3-year balance sheet, then who would need startup support?”
Still, our application was rejected due to “company policy.”
We approached another major private bank with hope. After several meetings and days of waiting, the same requirement came again: “3 years balance sheet.”
Again rejected.
For almost two months, we kept running from one bank to another. Nobody was ready to support a new manufacturing startup despite all the national-level discussions around innovation and entrepreneurship.
When we questioned this contradiction, one officer finally advised us:
“Try government banks or SIDBI. They handle startup projects.”
So we did.
We submitted every document they requested. Initially they said:
- 7 days
- then 15 days
- then 30 days
Meanwhile, our machinery supplier kept following up aggressively. The machines were ready, payments were pending, and there was a risk the equipment would be sold elsewhere.
We kept requesting updates from the bank, but responses never changed.
After nearly 60 days, our patience started breaking.
We escalated the matter to senior officials. During one discussion, we were finally told something that completely changed our understanding of the system.
“Because we were a completely new manufacturing setup without an existing 3-year financial history, our case was categorized as a: Greenfield Project.”
And according to them, such projects required:
- Additional approvals
- Detailed reports
- Extensive internal processing
One officer even openly admitted that due to staff limitations, they internally preferred not to process greenfield startup projects.
At that moment, we were shocked.
We were ready to mortgage machinery, accept terms, invest our savings, build manufacturing infrastructure, generate employment, and contribute to the economy — yet the system designed to support startups was itself struggling to trust startups.
Finally, after almost three exhausting months, the loan was approved.
But by then:
- We had already paid months of rent without production
- Paid penalties to machinery suppliers
- Faced continuous uncertainty and financial pressure
- Delayed our operational timeline significantly
That period taught us something very important:
Starting a business and dreaming big for your country is not easy.
People often see startups only after success. They see branding, products, and achievements.
But behind every startup are sleepless nights, endless rejections, delayed approvals, financial stress, and moments where dreams slowly start getting replaced by paperwork and loan follow-ups.
There comes a point where innovation temporarily stops — and survival becomes the priority.
But perhaps that is also what entrepreneurship truly means:
“Continuing to move forward even when the system tests your patience at every step.”
And despite everything, we still believe it is worth it.
Because every meaningful change begins with someone willing to take the difficult road.
With determination,
Co-Founders
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