It was launched by SIDBI to provide easy access to credit and hand-holding services for micro small medium enterprises (MSME). Its enable access to contact less loans, convergence with different agencies (including state/central subsidy agencies), co-lending, wholesale capital access to lenders from SIDBI as well as MUDRA. Now new age FinTechs, non-banking finance companies and small finance banks are being on-boarded on the platform for enhancing flow of credit to MSMEs.
The portal provides access to both financial (1.25 lakh lender branches) and non financial services (17000+ handholding agencies) with three distinct features viz.
- seek hand-holding support;
- select and apply for loans to preferred banks;
- enable faster loan processing.
Further, New age lenders viz. Fintechs, NBFCs, Small Finance Banks, MFIs are being on-boarded on the platform for enhancing the flow of credit to MSMEs. Apart from linking prospective borrowers to lenders for loans, the web portal also provides hand-holding support through a network of agencies engaged in application filling/ report preparation, financial training, skill development, mentoring, entrepreneurship development programmes, work shed and subsidy schemes.