Swavalamban Trainers Tool ( स्वावलंबन ट्रेनर्स टूल)
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Udyami Mitra portal by SIDBI
- MSMEs inclusive access to financial and non financial services
SIDBI has all along endeavored to bring institutional solutions for credit access to MSME aspirants. In this series, as a part of its Digital Initiative, as various portals such as sidbi.in, sidbistartupmitra.in, standupmitra.in, SIDBI has positioned www.udyamimitra.in, an interactive portal as an universal loan portal easing access to credit and handholding services for MSMEs. It is an enabling platform which aims at addressing ease of access to MSMEs financial and non-financial service needs.
The Portal, as a virtual market place endeavours to provide 'End to End' solutions not only for credit delivery but also for the host of Credit-plus services by way of hand holding support, application tracking, multiple interface with stakeholders (i.e. lenders, service providers, applicants). The important features include
I. Matchmaking platform- It provides a unique match making platform to MSME loan seekers, lenders as also handholding agencies. The portal has designed capability to accept varied MSME loan applications under. Presently online loan applications upto ` 10 crore can be submitted. The portal aims to be a crucial interface layer to create a support system involving varied stakeholder.
II. Inclusive Access to all - It provides access to both financial (1.25 lakh lending branches) and non financial services (17000+ handholding agencies) with three distinct features viz. (i) Seek Handholding support; (ii) select and apply for loans to preferred lenders; (iii) enable faster loan processing.
On entering SIDBI Udyamimitra Portal, the user is guided for registration and login. Based on information furnished by a prospective entrepreneur the system categorizes the applicants under appropriate financing scheme viz. MUDRA, Stand-up India and Other MSME. It then guides them to access handholding support or direct loan application module as per their requirement.
Applicant can submit online loan application online with instant acknowledgement through SMS/email. The submitted application flows to the preferred lender as selected by the loan applicant with online notification to the Nodal Officer of the lender. It facilitates
Access to Non Financial Services - The applicant may search for contact details of the required handholding agency in the vicinity of his place of proposed enterprise (based on the state and district given at the time of registration) to avail services. The portal has mapped hand holding agencies in different areas of expertise viz. financial training, skill development, project report preparation, application filing, work sheds and access to margin money/subsidy support being operated by various state/central organizations/corporations. The aim is to evolve this as a portal attending to the entrepreneurs need during entire enterprise development cycle.
Access to Finance - Presently, 1.25 lakh branches (public sector banks, private sector banks, foreign banks, New Age Lenders viz. NBFC, SFB and Fintech) of total 146 lenders are mapped on the portal. The portal replaces the manual operations with electronic platform where pre-sanction process shall get standardised in a simpler way in all lenders. The portal has a marketplace where lenders would be able to compete themselves in their loan delivery mechanism.
While submitting the loan applications, the applicants have the option of choosing preferred lender. The Portal is designed to obtain application forms, gather and provide information, enable registration, provide links for handholding and assist in tracking request for handholding or loan. At the loan market place, a preferred lender or any other lender who are active, undertake P3 (peruse, pick and process) on the loan applications offline as also mark their sanctions and rejections online. Applications from the virtual loan market are picked up by lenders on the basis of the preferences of the applicants (i.e. both Ready and Trainee Borrowers) and disposal of the applications are expected to be ensured as per Code of Commitment for its Customers adopted by respective lenders.
All submitted applications will be available at virtual market place for credit access to entrepreneurs and status visible to all stakeholders viz. lenders, handholding agencies, applicants, SIDBI, NABARD and Govt. agencies till the same is disbursed by one of the lenders.
Any time / anywhere access - Standardised application forms acceptable across the country, available freely.
As aspirants shall leverage their access to non-financial services, quality of applications shall be better. Lenders shall get access to ready/bankable business leads.
If a lender feels that an aspirant needs additional training or orientation, it can guide them to these agencies. The rejected loan applications get curing by getting right connect and handholding.
The customer footfall costs in branches shall reduce.
Quality M&E– With responsiveness assured and tracking of applications possible (both by loan seekers and lenders at supervisory levels) it would instill more transparency. Multiple MIS supply shall not be required as any stakeholder can generate reports and evaluate the efficiency & impact including alignment, re focus of attention towards particular pocket, area, segment and so on.