Instant line of credit top MSME need: Survey

New Delhi, June 27 (KNN) The instant line of credit and industry networking are the top requirements of majority of MSMEs, as per survey by fintech Kinara Capital.

According to the 'MSME Sentiment Survey' about 55% of the total MSMEs interviewed said an instant line of credit is their top requirement to accelerate everyday business decisions.

Flexible repayment products were favoured by 16% of respondents that will give them the choice to make daily or weekly loan payments or variable loan payments, based on their business turnover for the selected time period, it added.

The survey also cites that there is a growing acknowledgement of the importance of MSMEs and unlocking this sector's full potential will require a personalised approach.

"It is a sign that India's small business entrepreneurs are now seeking much more than access to formal credit and want tailored products and services aligned with their growth needs," Kinara Capital founder and CEO Hardika Shah said.

The report surveyed 2,600 formal MSMEs that are Udyam-registered and represent a range of businesses across manufacturing, trading and services sectors in Karnataka, Gujarat, Maharashtra, Andhra Pradesh, Telangana, Tamil Nadu and Puducherry.  (KNN Bureau)