India’s first digital platform dedicated to MSMEs  A staggering 95% of the total Industrial Units in India are classified as Micro, Small and Medium Enterprises (MSMEs or Micro and SMEs). India has over 42.50 million MSMEs , registered and unregistered, which employ over 80 million people (close to 7% of the total population and around 40% of the total workforce ). MSMEs in India contribute almost 50% to India’s manufacturing output and around 40% of the country’s total exports. 31.70% of the MSMEs manufacture close to 6,000 different products, while 68.20% are engaged in delivering various services. Yet, this segment has remained largely untouched by the technology advancements in banking.  Sensing an opportunity here, ICICI Bank, one of India’s leading banks, invested its resources and money into research and development for digitalisation of business transactions in order to make life easier for MSMEs and self-employed customers. A few days ago, ICICI Bank la...

ICICI Bank has recently launched a dedicated centre in Bengaluru to provide business solutions exclusively to start-ups and small business owners in order to offer them hassle free services, all under one roof. This centre has been designed to cater to the growing and varied needs of the MSME segment. Funding & Business solutions now available more easily for MSMEs and Start-ups in Bengaluru THE PROBLEM The complex procedures, lack of proper guidance, confusion regarding documentary requirements and cumbersome processes of appraisal and disbursement in traditional banking channels act as a deterrent for MSMEs looking to raise funds for their working capital requirements. THE SOLUTION Mr. Sandeep Batra, Executive Director (Designate), ICICI Bank along with Mr. Viral Rupani, Retail Business Head — South, ICICI Bank inaugurated ICICI Bank’s first centre which is designed to offer solutions to varied needs of the MSME segment. This is a first of its kind initiative by ICICI...

Availing a loan for your business can often be stressful and time consuming. At https://msmemitra.com we believe in empowering potential borrowers by sharing information through our websites https://msmemitra.com and http://loanjugaad.com which we feel will help them make an informed decision about the funding options available to them. With its population in excess of 1.3 Billion and increasing, India has been the centre of world’s attention for its potential. As it happens, India is also the 6th largest and fastest growing trillion dollar economy in the world and is on its way to becoming a hub for innovation and disruptions with a number of untapped segments ready for aggressive growth. SMALL BUSINESSES (MSMEs) — THE BACKBONE OF INDIAN ECONOMY 95% of the total Industrial units in India are classified as Micro, Small and Medium Enterprises (MSMEs or Micro and SMEs). There are over 42.50 Million registered and unregistered MSME businesses in India which employ over 80 M...

An  unsecured business loan  is a short-term funding solution which does not require personal or business assets as security, but is rather based on the financial history and cash-flow of the business, and the credit worthiness of the business and its promoters. As the risk for the lender is higher than in any asset or collateral-backed loans, the Interest rate for an  unsecured business loan  is higher than the interest rate on  SME Loan  which is backed by a primary security (machine, equipment, stock, book debts), and additionally by either collateral security (real estate property) and personal guarantee of promoters & third parties, or guaranteed under a  Credit Guarantee Scheme . In addition to higher interest rates, the loan repayment tenure is also much shorter for an  unsecured business loan  as compared to an  SME Loan  because of the higher risk of default over a longer period of time. IS AN  UNSECU...

MSMEmitra  is utilising the power of technology and digital marketing for making business loans, funding, government promoted SME schemes for MSMEs and Start-up funding more accessible for entrepreneurs across India. India has a population in excess of 1.30 Billion (and growing!!!). The country is the 6th largest and the fastest-growing trillion dollar economy in the world, making India one of the centres for innovation and disruption, with multiple untapped segments ripe for aggressive growth. One such segment is the  FINANCIAL SERVICES  segment. While the market has been disrupted and stagnated over the last decade in the retail financial services (to be more precise, banking services for individuals), financial services for start-ups and small businesses have been deprived the same focus, until now. Providing financial consultancy and business advisory services —  MSMEmitra START-UPS AND MSMEs — THE DRIVING FORCE BEHIND THE INDIAN ECONOMY A staggering 9...