KATHMANDU: Nabil Bank has announced inauguration of its Mid-corporate and SME Hub in United World Trade Centre, Kathmandu by the bank’s Chairman Shambhu Prasad Poudyal.
The hub caters to business enterprises involved in trading, manufacturing and services of mid-corporate and SME sizes, it said in a statement. It also looks after direct and indirect microfinancing activities at various branches of the bank across the nation. Mid-corporate lending covers loans of Rs 30 million to Rs 100 million for a single unit or group.
SME lending covers loan exposure of up to Rs 30 million, whereas microfinance covers direct lending to individuals and units, wholesale lending to microfinance institutions (MFIs) and cooperatives, as well as equity investments in MFIs.
Nabil Bank and UKaid Sakchyam Access to Finance Programme also joined hands to promote access to finance to the micro and SME sector. Nabil Bank intends to work with Sakchyam to increase its footprint in the rural sector by establishing a dedicated and specialised SME lending unit in the bank to enhance access to finance for micro, small and medium enterprises.
Sakchyam and Nabil Bank will be jointly working on market assessment, product development, process and operational set up and training and development, targeted for rural areas.
An agreement to this end was also signed between Nabil and Sakchyam during inauguration of the hub on Sunday. Nabil has also launched a new product named ‘NabilSME Fast Track Loan’ to assist emerging mid-sized trading, manufacturing and service businesses with a competitive interest rate.
Written by Sandeep
This news first appeared on https://thehimalayantimes.com/business/nabils-sme-hub/ under the title “Nabil’s SME Hub”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.