Loan applications worth over Rs 50 cr were received from MSMEs in Biz Bridge 2015

Loan applications worth over Rs 50 cr were received from MSMEs, both existing and prospective, in the east, particularly West Bengal, at the four-day Biz Bridge 2015, the largest manufacturing and engineering exhibition and conference in the East, which ended here at Milan Mela today.

CII will take forward the loan applications through its Finance Facilitation Centre (FFC) for further actions with all its 13 partner banks and NBFCs .

This, Dr Saugat Mukherjee, Regional Director, CII Eastern Region said, is part of CII's services offered to enable MSMEs to get easy access to banks and NBFCs through the CII-FFC.

“Not only was the response overwhelming but is also an illustration of the impact CII-FFC has made in the past one year. It has really surpassed our expectations,” said Dr Mukherjee, adding that Biz Bridge 2015, CII-Finance Facilitation Centre (FFC) has put up a special stall drawing a large number of entrepreneurs.

Dr Mukherjee added that CII-FFC since inception has succeeded in bridging the gap between MSMEs and banks and financial institutions in the region.

Countrywide, loans applications that have been made and processed through CII-FFC are worth Rs 475 cr so far.