Preferential Modernization and Source of Financing for MSME’s in Rourkela

Abstract

The fundamental reason of the project was to determine the preference of micro small and medium scale industries towards modernization of their existing business and to determine the most preferable source of finance for their project. The objective was to determine all important nodes involved in modernization of a firm and also to analyze if there is any particular preferences in modernization and the source of financing. It was also intended to determine, out of high rate of interest and deposit of securities, which is more preferable. The project intended to determine the most critical nodes in financing MSME in Rourkela, like the amount of funds needed, speed of sanction and disbursal, cost and interest rates, the types of mortgage demanded by banks or any other financing company or any other problems in regards to MSME in accessing to credit.