Bank Credit Facilitation Scheme to meet the credit requirements of MSME units NSIC has entered into a Memorandum of Understanding with various Nationalized and Private Sector Banks. Through syndication with these banks, NSIC arranges for credit support (fund or non-fund based limits) from banks without any cost to MSMEs.
Furthermore the MSMEs can upgrade their competence in terms of business and technologies by getting rated through independent, renowned and professional rating agencies empanelled with NSIC. The empanelled rating agencies are CRISIL, ONICRA, SMERA-D&B, CARE, India Ratings, BRICKWORK and ICRA. The MSE’s which get rated under NSIC-Performance and Credit Rating Scheme not only has a liberty to get rated from any one of rating agencies of its preference but it also invariably increases their creditability in business and help them in getting timely credit from banks at liberal rates of interest. All documentations pertaining to completion and submission of a credit proposal to banks shall be undertaken by NSIC thereby saving cost and time to MSME.
Eligibility
All Micro, Small and Medium Entrepreneurs registered in India.
Salient features of Bank Credit Facilitation Scheme
- Facilitates credit to MSMEs by having an integrated mix of various public and private sector banks.
- Provides an option for MSMEs to apply for a new bank or switch over of an account to a different bank.
- Helps the MSMEs in completing documentation and thereafter submitting it to the bank.
- Helps the MSMEs in getting liberal rate of interests from the banks after a favorable rating is awarded to unit under Performance and Credit rating scheme of the Ministry.
- To facilitate larger number of MSMEs who are desirous of availing credit.
- To provide handholding support to MSMEs.
How to apply?
Please visit NSIC website to download the loan application forms for Bank Credit Facilitation.
How to avail MSME loans under Bank Credit Facilitation?
The MSME Unit can approach directly to any of our branch offices and submit their request for loan requirement from any of the banks under our tie up agreement. The official sitting at the branch will provide hand holding support to the MSME unit by assisting them in completing all documentation as required for further submission to the bank.
How does this Bank Credit Facilitation Scheme help MSME?
Under Bank Credit Facilitation Scheme, the MSME(s) can get access to finance from banks based upon their lending policy and a focused attention is given to the credit proposals sponsored by NSIC.
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