SMEDA launches Helpdesk for SME financing

Small and Medium Enterprises Development Authority (SMEDA) has launched ' SME Financing Helpdesk' to facilitate the SMEs to enjoy easy access for finance.

SMEDA Chief Executive Officer Muhammad Alamgir Chaudhry expressed these views while talking to participants of first Help Desk arranged by SMEDA in collaboration with Bank Alfalah at the SMEDA head office. The CEO claimed that first SME Financing Help Desk had received financing requests worth Rs. 283 million from 29 concerns dealing in manufacturing, trading and service sectors.

He expressed deep gratitude to Bank Alfalah for deputing their active staff for quick processing of the financing requests received there on the spot. He said that such Help Desk would be arranged countrywide with the support of various banks. He said that SME Financing Help Desks were being conducted in real time through a focused discussion between walk-in SMEs and bank representatives whereby, the SMEs were presenting their financing requirements. In return, he said, the bank officials were offering best-suited loan products to the potential clients.

Alamgir said that in lieu of the State Bank of Pakistan's continued patronage for SME financing followed by the reduced KIBOR rates, the banks had started showing keen interest in exploring the SME sector's potential for financing.