Categories: Banking

SBI commits to finance 1000 entrepreneurs in Nagaland

SBI commits to finance 1000 entrepreneurs in Nagaland through a partnership with Business Association. The State Bank of India (SBI) in collaboration with the Business Association of Nagas (BAN) has decided to help 1000 entrepreneurs with financing.

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SBI commits to finance 1000 entrepreneurs in Nagaland- Key Points

An MoU has been signed between the two parties to facilitate ease of doing business and finance MSMEs of Naga entrepreneurs in the state, reported Eastern Mirror.
The NIIE trade fair culminated positive impact with huge promise and commitment to finance 1000 entrepreneurs through the iconic signing of an MOU between SBI and BAN, which will bring hope and huge respite to the genuine entrepreneurs of the state.
BAN will facilitate the identification, and preparation of MSME 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 loan becoming irregular.