Cash Suvidha disburses loans worth Rs 410 Cr in FY 18-19
New Delhi, July 10 (KNN) Cash Suvidha, the NBFC and fintech company that extends business loans to SMEs & MSMEs and personal loans to the individuals, has distributed around RS 410 crore of loans in the Financial Year 2018-2019.
“Cash Suvidha is focused on filing the gap of financial inclusion in various segments by providing easy loans, hence, enabling the market towards economic growth. It has been an incredible year for us; we are growing rapidly and aim to clock higher revenue in the coming year. This financial year promises to bring even bigger opportunities for Cash Suvidha, and we are geared up for the same as we target to disburse nearly INR 1000crore of loan amount,” said Rajesh Gupta, Founder, Cash Suvidha.
The purpose of Cash Suvidha is to provide easy access to credit to SMEs and MSMEs in particular as 70-75%per cent of the total loans is directed to them. in order to expand the horizon of financial inclusion for them. The company is known for its quick digital processing, easy lending services and disbursing loans within three working days. Cash Suvidha is able to determine the best leads for credit and match them with the perfect kind of product. It also tends to look forward to including women entrepreneurs on its radar to support and aid women empowerment, the company said in a press release.
One of the key challenges over the years for the industrialists has been witnessed in the form of obtaining credit from banking institutions. Cash Suvidha provides loans with a ticket size of Rs 50,000- 5, 00,000 for SMEs and Rs 15,000- 50,000 for MSMEs.
Entering into the 4th year of operations, Cash Suvidha has raised a total debt of USD 15.4 million and disbursed nearly Rs 564 crore of loans to over 49,000 borrowers with an average ticket size of around Rs 15,000- 5,00,000. (KNN/KJ)