Bank of Maharashtra (BoM) partners with Vayana Network to offer Channel Financing service for MSMEs
Posted On: 2021-02-19 03:03:29 (Time Zone: Arizona, USA)
Bank of Maharashtra has entered into a strategic partnership with Vayana Network, India s largest Supply Chain Financing (SCF) platform to offer financial support to MSME sector. Through this association, Bank of Maharashtra will provide short term credit to meet funding requirements of dealers/ vendors of reputed corporates through Mahabank Channel Financing Scheme launched by the bank, through Vayana Network s expertise in this segment.
Under the partnership, Vayana Network will provide its unique SCF solutions to Bank of Maharashtra supported by Vayana s technology and service expertise. The SCF solutions will include vendor and dealer financing programs across bank s network of 1,870+ branches across the country. Vayana Network s proprietary tech platform will help to digitize the transactions of Supply Chain Fina
Synopsis
Vayana Network connects corporates and their trade ecosystems to provide digital, convenient and affordable access to credit for their payables and receivables.
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PUNE:
Bank of Maharashtra (BoM)has entered into a strategic partnership with Vayana Network to offer financial support to the MSME sector. Through this association, BoM will provide short term credit to meet funding requirements of dealers of corporates via “Mahabank Channel Financing Scheme” launched by the bank, through Vayana Network’s expertise in this segment.
Under the partnership, Vayana Network will provide its Supply Chain Financing solutions (SCF) to the bank supported by Vayana’s technology and service expertise. The SCF solutions will include vendor and dealer financing programs across bank’s network of 1,870 branches across the country. Vayana Network’s proprietary tech platform will help to digitize the transactions of Supply Chain Financing, while the market service
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By Jon Hemmerdinger2021-01-14T13:50:00+00:00
The Export-Import Bank of the United States has agreed to guarantee two financing deals that will provide $125 million to support aerospace work at GE Aviation and Spirit AeroSystems.
One of the deals is intended to inject liquidity into the struggling US aerospace supply chain, while the other will help Australian airline Qantas purchase seven GE engines, says the bank.
GEnx 1b engine
The guarantees will “support” some 500 US jobs and aid the “hard-hit aviation” sector amid the Covid-19 pandemic and associated government travel restrictions, says Ex-Im. Those factors, it adds, have restricted the availability of loans through private lenders.
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Building on the Export-Import Bank of the United States (EXIM) Board of Directors’ September 2020 unanimous approval of a supply chain transaction, EXIM President and Chairman Kimberly A. Reed recently announced the signing of two final agreements to make the deal – with the first-ever use of a funder guarantee structure – operative and US$50 million available to Houston-based LNG exporter Freeport LNG.
The transaction is estimated to support 200 American jobs, principally in Texas, as well as through supplier networks in Arkansas, Louisiana, Mississippi, and Oklahoma.
The groundwork for this structure was laid in September 2020, when the EXIM Board of Directors unanimously approved the renewal of EXIM’s partnership with the Private Export Funding Corporation (PEFCO) for 25 years and directed EXIM staff to draft and implement final funder guarantee agreements.