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 banks, NSIC facilitates credit support to MSMEs (fund based or non-fund based limits) from these banks. Any MSME Unit can approach directly to any of our nearest branch office and submit their request application for loan requirement from any of these banks under our tie up agreement. The NSIC official sitting at the branch will provide hand holding support to the MSME unit by assisting them in completion of all documents as required by the bank for further submission of the credit proposal to the bank.
NSIC also does the follow up with these banks. This handholding support is provided by NSIC without any cost to the MSMEs
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 as given under tie up arrangements.
- Helps the MSMEs in completing documentation as required by the bank and after submitting it to the bank NSIC officer does the follow up with the bank.
- To facilitate larger number of MSMEs who are desirous of availing credit.
- To provide handholding support to MSMEs without any cost to MSMEs.
