Credit and finance for MSMEs: Since its launch in November 2020, Godrej Capital said it has built a balance sheet of Rs 6,500 crores across housing and MSME loans.
Non-banking Financial Company (NBFC) arm of the Godrej Group, Godrej Capital will now provide unsecured business loans specifically for MSMEs to address their needs of cash flow management with flexible repayment options. The loan process is digitised with quick sanction and disbursal and tenure of up to 60 months along with an industry-first reward program on timely repayments, the company said in a statement on Thursday.
While MSMEs are critical in fostering India’s economic growth by fueling job creation, innovation, and overall prosperity, these enterprises frequently encounter difficulties in obtaining prompt and adaptable financial support. Obstacles like insufficient collateral and seasonal fluctuations in business cycles impede their expansion and development aspirations. “Godrej Capital is addressing this by providing flexible lending solutions that allow MSMEs to repay their loans in sync with their business cycles,” it said.
The loan facility will be available to MSMEs based in 31 markets including Mumbai, Bengaluru, Delhi-NCR, Pune, Ahmedabad, Surat, Indore, Chennai, Hyderabad, Jaipur, Chandigarh, Alwar, Aurangabad, Baroda, Coimbatore, Jalandhar, Jodhpur, Kanchipuram, Mangalore, Salem, Ludhiana, Mysore, Nagpur, Nashik, Rajkot, Udaipur, Vapi, Vijayawada, Rangareddy, Vishakhapatnam and Thane.
“We understand the challenges MSMEs face and their critical role in driving economic growth and are happy to expand our product offerings through unsecured business loans. We have expanded our geographic presence and now offer business loans in 31 key markets. We are committed to becoming a lender of choice for MSMEs by developing innovative, flexible products that complement the cashflows of a business owner,” said Manish Shah, Chief Executive Officer of Godrej Capital in a statement.
In April this year, the company had also announced its digital platform Nirmaan to provide a bouquet of services to MSMEs through partnerships with Amazon Global Selling (e-commerce exports programme), Onsurity (employee healthcare platform), Zolvit (tax and compliance support for MSMEs), and MSMEx (advisory platform for MSMEs) so far.
Since its launch in November 2020, Godrej Capital said it has built a balance sheet of Rs 6,500 crores across housing and MSME loans.
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