SIDBI to assist MSMEs through factoring service

To open five credit facilitation centres at industrial clusters in Gujarat

Expanding its area of operations beyond financing to micro, small and medium enterprises (MSMEs) in the country, Small Industries Development Bank of India (SIDBI) is now looking at factoring services or receivable management for MSMEs in India. The factoring services are considered crucial for MSME units in the manufacturing sector, which faces issues such as delayed payments and weak receivable management system. SIDBI is eyeing to assist these SMEs in their reveivable management and provide them finance against the receivables factored. "There is huge scope in India for factoring ...