Lakshmi Vilas bank is organizing a a two-day expo 'LVB SME EXPO' in Coimbatore on 21st and 22nd January at Suguna Kalyana Mandapam, Avinashi Road.
'LVB SME EXPO' offer immediate SME loans for starting new businesses. The SMEs can gain first-hand experience of how to reduce the cost of availing loans from the bank.
The SME customers of the bank from different regions like Coimbatore, Madurai, Karur, Salem and Puducherry will be participating in this expo. Companies which deal in furniture, home appliances, automobile dealers, builders, educational institutions, garment manufacturers, electric and electronic products dealers, food processing units etc. will host their products at this expo. Hence, other than SME's, people who visit the expo can purchase products with exciting discounts and cost-saving finance options.
Mr. Parthasarathi Mukherjee, Managing Director and CEO of Lakshmi Vilas Bank, while addressing the press shared that 'We understand that small and medium enterprise sector plays a paramount role in India's economy. Attracting customers, maintaining profitability and increasing revenue were highlighted as top business challenges by SMEs. With the help of this SME EXPO, the bank is offering them an access to the world of opportunities.
Coimbatore is a very potent place for SMEs. This expo will facilitate new tie-ups with SME's and deepen the existing ones. With 110 branches throughout India, LVB is working out at various business models and also adding alternate channels like digital channels. Soon,LVB will open two more new branches in Coimbatore, one in Ondipudur and another in Gandhi Maa Nagar. Plans to open branches in Erode and Kerala at remote areas are also on cards', he said.
We have also launched a microsite for the MSME units, through which people can enter their requirements and details. The relationship manager, who has been exclusively appointed for this will go through their requirements and in turn will call back to them to discuss on further action plans. Last year, 2300 crores were given to the MSME Units and this year around 1000-1500 crores with 500 crores to Tamil Nadu will be disbursed to MSME Units.
With the advent of start-up culture, LVB lend loans up to one crore through our credit guarantee scheme. At this expo, start-ups who are in the process of loan approvals from LVB will also host their stalls.
When questioned about the effect of demonetization, Parthasarathi affirmed that the bank was affected during the initial phase of the policy but later recouped. We never wanted to be a part of the race, than quantity we focus and practice quality service to our customers. A growth comprising the quality will never be practiced at LVB. This 2017, we expect a growth increase of 15%. Shortly, an expo focusing on agricultural sector is also one of the key plans for this year.' he said.
The organizing team at LVB expects a footfall of 10,000 customers to visit their expo today and tomorrow.