KATHMANDU: Nepal’s leading commercial bank, Nabil Bank, has collaborated with Nepal Mobile Distributors Association to provide channel financing loans along with various other SME loan facilities to its registered members.
Under this strategic partnership, the associated mobile distributors across the country will benefit through the channel financing facility, which connects the network of retailers of registered mobile distributors with the bank and provides assured working capital limit as channel financing loan with attractive pricing and collateral comfort.
The major attraction of the channel financing loan is that it allows distributors to receive full value of bills issued to the retailers through banking financing. Furthermore, the registered members can avail various other SME loan facilities to meet their financing requirements for sustainable growth.
Niraj Kumar Basnet (Danil), Nabil Bank’s Head - SME & MF Division, and Dinesh Chulyadyo, President of NMDA, Kathmandu signed a memorandum of understanding (MoU) on March 14 at Nabil SME & MF Hub, Tripureshwor in the presence of Manoj Kumar Yadav, Nabil Bank’s Manager - Microfinance Division, and Gri Nath Tripathi, NMDA’s General Secretary.
Speaking about the partnership, Basnet (Danil) stated, ‘Nabil Bank is focused towards providing financial services to the general public and businesses through credit creation and facilitating them as required so as to ensure sustainable growth of this segment. Through this partnership with NMDA, the bank aims to support its members in managing their working capital and cash flow shortages through channel financing loans and various other SME loans so as to improve the sustainability of the SME business sector which has been severely impacted by the Covid 19 pandemic.
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Published Date: March 18, 2022, 12:00 am
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