Kohima: State Bank of India (SBI) will finance around 1,000 entrepreneurs in Nagaland.
The State Bank of India (SBI) in collaboration with the Business Association of Nagas (BAN) has decided to help 1,000 entrepreneurs of Nagaland.
SBI and BAN have signed an MoU to facilitate ease of doing business and finance MSMEs units of Naga entrepreneurs, The Eastern Mirror reported.
The biggest achievement of the National Integrate Innovate Expand (NIIE) Trade Fair at Chumukedima recently was the signing of the MoU between the SBI and BAN.
SBI’s commitment to help will bring hope and huge respite to the genuine entrepreneurs of Nagaland.
BAN will facilitate the identification, and preparation of MSME units through project screening, documentation, and submission to SBI.
Once the loan is finally sanctioned, the association will be responsible for providing training on bookkeeping, GST filing, statutory compliances, etc.
The pact stated that BAN will also closely monitor, handhold, and actively intervene to avoid any delay in loan ewpayment.