Pune, India, 28 February 2017: deAsra Foundation, a not-for-profit association that supports entrepreneurship among enterprising individuals, has entered into a Memorandum of Understanding (MoU) with three banks to help first-time entrepreneurs to get funding-ready for their ventures. The MoU between deAsra and three banks – Bank of Maharashtra, Janata Sahakari Bank and Janaseva Sahakari Bank – will facilitate funding for deAsra customers and help banks to meet their priority sector lending requirements profitably.
Banks require detailed documentation like the scale of activity, legal compliances, relevant permissions, licenses, the project report, assessment of security for loan etc. to validate the financial viability and technical feasibility of any project. First-time entrepreneurs typically find banking formalities intimidating and time-consuming. Often they end up spending a lot of their time in getting their paperwork in order. Now, along with the other infrastructure- and advisory-related support, deAsra will also help entrepreneurs in getting help related to the financing of the project.