Our Method
At Finova, we understand that within the MSME sector, every industry has unique needs and challenges. To address this diversity, we have developed a customized approach that enables us to gain deeper insights into the numerous industries we serve. By understanding the specific requirements of each industry, we can provide tailored solutions that meet their unique needs.
Traditional credit products, policies, and processes often fall short when it comes to addressing the challenges faced by MSMEs. We have identified key challenges that MSMEs encounter, including:
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Absence of credit history:
Many MSMEs lack a well-established credit history, making it difficult for them to access traditional financing options. We recognize this challenge and have developed alternative methods to assess creditworthiness and provide financial support.
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Seasonality of every business:
Seasonal fluctuations in business revenue can pose challenges for MSMEs, especially those operating in sectors influenced by seasonal demand. We take into account the seasonal nature of these businesses and structure our offerings to accommodate their cash flow requirements accordingly.
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Poor banking practices:
MSMEs often face difficulties due to outdated banking practices and complex procedures. We strive to simplify the process and provide efficient and hassle-free financial solutions that address their specific needs.
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Cash flow analysis:
Understanding and analyzing the cash flow of an MSME is crucial for assessing its financial health. We have developed expertise in conducting detailed cash flow analysis, allowing us to gain a comprehensive understanding of an enterprise's financial situation and provide appropriate financing options.
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Variety of collaterals:
MSMEs may have unique collaterals to offer as security, which may not fit traditional lending models. We have a flexible approach that accommodates a wide range of collaterals, empowering businesses with alternative options for securing financing.
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Properties in Rural areas:
Many MSMEs operate in rural areas, where property ownership and legal documentation may be different from urban areas. Our understanding of rural dynamics enables us to navigate these challenges and provide financial solutions tailored to the specific needs of rural enterprises.
To overcome these challenges and create value for our clients, we deploy Financial Innovations and cutting-edge techniques. Our commitment to continuous innovation allows us to harness these challenges and develop effective strategies that support the growth and success of MSMEs.
By leveraging our customized approach, deep industry knowledge, and innovative methodologies, we strive to be the preferred financial partner for MSMEs, providing them with the necessary financial tools to thrive in their respective industries.