One to Watch (OTW) has launched a landmark COVID-19 MSME Fund to support Micro, Small and Medium Enterprises by providing them bridge financing that will help them bounce back from the effects of COVID-19. This fund is supported by Swiss Agency for Development and Cooperation SDC, FMO - Dutch Entrepreneurial Development Bank in partnership with NMB Bank and Laxmi Bank. Eligible and selected businesses, evaluated based on a pre-determined set of criteria, will have access to collateral and interest free loans disbursed through our two partner banks. The principal amount is repayable with the interest amount being subsidized for a period till March 2022. Up to 100 MSMEs will be provided with the much-needed financing which is expected to help retain up to 1,000 jobs.
Additionally, technical assistance in the form of business advisory/development services aimed to support business continuity, job retention and also build resilience will be provided to around 40 companies that successfully avail loans.
Priority will be given to those companies where women constitute a majority of the workforce and also to those businesses which focus on sustainable/green solutions.
Specifically, interested businesses meeting the following criteria can apply:
Those interested in applying can click here to apply