Government of Maharashtra & M1xchange to Empower MSMEs through TReDS
M1xchange, a leading trade receivable discounting system (TReDS) platform, has signed a memorandum of understanding (MoU) with the Government of Maharashtra to bolster the financial health of Micro, Small, and Medium enterprises (MSMEs) working with the state government by providing the MSMEs with invoice discounting services.
The partnership envisions targeted initiatives to enhance financial access for local MSMEs, facilitating their growth and sustainability. Through TReDS, MSMEs get access to working capital against invoices within 24 hours at the lowest rate through its online bidding platform, collateral-free and without recourse on MSMEs and offers an end-to-end digital experience to them.
A key component of this collaboration is the launch of an extensive awareness program, conducted jointly by the Government of Maharashtra and M1xchange, across various industrial clusters in the state. The program aims to educate and encourage MSMEs to register on the M1xchange platform, offering them a robust solution for easy access to working capital.
Hon’ble Minister for Industries, Government of Maharashtra, Shri Uday Samant says, “The Government of Maharashtra is pleased to partner with M1xchange and this engagement will provide the necessary hand-holding support and guidance to the MSMEs of the state. The state has taken various initiatives to provide the required support for MSMEs to expand their operations and become inspiring examples for others to follow.”
Sundeep Mohindru, Promoter & Director, M1xchange says, “Our collaboration with the Government of Maharashtra will foster financial inclusivity and resilience among MSMEs. We aim to empower local businesses with access to quick, cost-effective, and timely working capital solutions to drive economic growth, and contribute to the overall prosperity of the state.”