CMSMEs, especially cottage and micro-enterprises, including agriculturists, face great difficulty accessing financial facilities from formal financial institutions such as banks and NBFIs. Only 28.4% of the 8.1 Mn CMSMEs are being served by the existing formal financial channel3 . The problem goes beyond the formalization of CMSMEs, and there are limitations on both the CMSME and the financial service providers’ ends. The country's CMSMEs get access to only one-third of the fund they need for running businesses, while rural entrepreneurs receive only 19% of the funds disbursed. According to recent studies, 99% of all business units in Bangladesh are CMSMEs, and 94% experienced a significant loss in 2020 due to the COVID-19 pandemic4 . While the government supported entrepreneurs with a generous stimulus package, the finance ministry noted that only 10.8% of this went to cottage and micro-enterprises. A DCCI study found that 59% of CMSMEs found the stimulus application and disbursement process complex. Multiple studies point to the following barriers faced by the CMSMEs to access financial facilities: