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The Chamber of Indian MSMEs to launch platform to connect Banks with MSMEs
May 18, 2023
The Chamber of Indian Micro, Small and Medium Enterprises has launched a new portal MSME Loans, which serves as the “match-maker” between the loan-seeking MSMEs and the lenders.
According to Mukesh Mohan Gupta, the President of the MSME association, the rationale behind launching msmeloans.co.in is to assist MSMEs in the loan application process while aiding banks in identifying creditworthy borrowers.
Gupta further added, “Many entrepreneurs seek loans, but they face difficulty in identifying the right bank or the branch that is enthusiastic about providing them with loans. Similarly, there are banks interested in financing MSMEs but struggle to find the ideal enterprise. The MSME Loans platform will help both entities find the right match, just like matrimonial sites.”
To leverage the platform, MSMEs are required to upload their loan requirement, along with financial statements and other supporting documents such as ITR and GST return amongst others on the MSME Loans portal. The details will then be shared with all the lenders on the marketplace who will evaluate the financial documents and assess the potential profitability of the MSME account. Interested banks will directly contact the MSME owners with the loan offer, helping them access capital at competitive rates.
Important Links:
- 4-IN-1 Professional Diploma in Banking, Financial Services & Insurance (PDBFSI): https://tscfm.org/courses/4-in-1-professional-diploma-in-banking-financial-services-insurance-pdbfsi/