CMSME Business Division

The CMSME Business Division focuses on fostering the growth and sustainability of Cottage, Micro, Small, and Medium Enterprises (CMSMEs) in Bangladesh. One of the key barriers to CMSME financing is the lack of proper financial documents and other relevant information for ensuring proper credit assessment / appraisal. VFMA works as bridge between SME customer and financial institutions complying standard process and regulatory requirements.
After completion of online registration process, we provide essential guidance and services to CMSMEs in the following areas:

Fostering Growth and Sustainability for CMSMEs

The CMSME Business Division at Versatile Finance & Management Associates is dedicated to fostering the growth and sustainability of Cottage, Micro, Small, and Medium Enterprises (CMSMEs) in Bangladesh. We understand the unique challenges faced by CMSMEs and provide tailored solutions to help them thrive.

Our Services

Bridging the Gap: One of the key barriers to CMSME financing is the lack of proper financial documents and other relevant information for ensuring proper credit assessment/appraisal. VFMA works as a bridge between SME customers and financial institutions, complying with standard processes and regulatory requirements.

Essential Guidance and Services: After completing the online registration process, we provide essential guidance and services to CMSMEs in the following areas:

  • Business Policy Development: Strategies for growth and enhancement.
  • Cost Minimization Techniques.
  • Financial Statement Preparation: Assistance in preparing comprehensive financial statements.
  • Financial Management Services: Support in banking, fundraising, savings options, insurance, and payment solutions.
  • Access to Loans: Guidance on how to avail loans under working capital, project financing, stimulus packages, and refinance programs.
  • Product Promotion Assistance.
  • Encourage Diversification Strategies: For reducing dependence on a single market or product line.

Training Programs: Conducting courses on “Entrepreneurship Development” and the Future Entrepreneurs Empowerment Program (FEEP) under the Skills for Employment Investment Programme (SEIP) supervised by the SME and Special Programme Department of Bangladesh Bank.

Other Advisory and Value-Added Services:

  • Sales Ledger Administration: Managing sales ledgers and providing detailed reports to aid client/supplier decision-making.
  • Follow-Up and Physical Collection Services: Structured follow-ups to ensure timely payment collection from buyers across different locations.
  • Advisory Services: Providing insights into buyers’ credit ratings to assist clients in setting appropriate credit limits.
  • Alternative Credit Scoring: Utilizing non-traditional data sources (e.g., telecom payments, digital footprints) to assess the creditworthiness of unbanked and underbanked business communities.

Financial Solutions for MSMEs:

  • End-to-End Credit Delivery Process: Developing Standard Operating Procedures (SOPs) and Customized Product Program Guidelines for each bank.
  • Cluster Financing: Creating tailored financing solutions for 50 MSME clusters in collaboration with Bangladesh Bank and the SME Foundation.
  • Women Entrepreneur Financing: Focusing on empowering women entrepreneurs through dedicated financial products.
  • Digital and Online Networking Platforms: Facilitating online marketplaces for buyers and sellers and developing digital marketing platforms targeting SME customers.

Training and Development Programs: Arranging varied training programs to strengthen entrepreneurial skills.