SME financing, function, and process involved in the SME division of IDLC Finance Limited

Abstract

IDLC Finance Ltd. is a significant Non-Banking Financial Institution (NBFI). The company offers a wide range of products and services, including consumer goods like house and auto loans, corporate and SME products like lease and term loans, deposit schemes, structured financial services, and others. I've attempted to describe IDLC Finance Limited's SME department in this paper to the best of my limited ability. Small and medium-sized businesses (SMEs) are crucial to the overall economic development of a nation, particularly in developing nations like Bangladesh. Achieving the goals set by the Millennium Development Goals (MDGs), particularly the eradication of extreme poverty and hunger, gender equality, and women's empowerment, could be done quickly thanks to this sector's labor-intensive nature and short gestation period. Many of Asia's wealthiest nations' economic success has depended heavily on the SME sector. A similar value is placed on small and medium-sized businesses (SMEs) in our neighbors' nations. They emphasized the creation of small and medium-sized enterprises (SMEs) for improved economic growth, bridging the gap between income disparity and poverty alleviation, and referring to SMEs as machines that create jobs. The present administration has also placed a priority on the growth of the SME industry, which it sees as the engine driving industrialization.