HYDERABAD: Feeling tensed about your business during the lockdown? Covid-19 Emergency Credit Line Program by Solv, a new digital platform, promises to provide succor to the Micro, Small and Medium Enterprises (MSME) sector. Backed by the Standard Chartered Group, in association with FICCI-CMSME, it aims to ease the financial pain being faced by the sector while address the urgent financing needs of MSMEs who are exploring ways of maintaining their cash flow and staying relevant in the new market conditions.
This new offering was launched at a webinar jointly organised by FICCI-CMSME and SOLV, which brought together various key stakeholders from the financial ecosystem to share their views and advice for MSMEs during these unprecedented times of crisis. SOLV’s Founder and CEO, Nitin Mittal, observed, “It is open to anyone in any industry who is either already providing or is willing to repurpose their business to provide goods and services that help in containing COVID-19;
for eg. all types of PPEs, public space and food-grade sanitization solutions, ventilators & other medical equipment. These unsecured loans will provide MSMEs with the much-needed working capital they are looking for and ensure their wheels keep moving. With this basic requirement met, MSMEs can focus on capacity-building and growth over the medium-to-long term.”