India: Fintech Startup Cash Suvidha Offers Loans to Over 32000 SMEs

Mar 2018
India, March, 01 2018 - Cash Suvidha, a Fintech Company which serves millions of small businesses in India recently has announced that it has empowered more than 32000 SMEs, MSMEs, Startups and women entrepreneurs in India by providing alternative lending services.

Fintech startup, a digital lending platform which provide quick and easy loans to its customers all across India in a reasonable time period was founded by Rajesh Gupta and Annop Garg .

Since its launch the company has raised a total debt of USD 5.2 million and has successfully disbursed loan amount of Rs 130 crore. Every month fintech startup receives 15000 loan applications.

Cash Suvidha Founder, Rajesh Gupta said "We have been closely monitoring the business environment and we see that small businesses in emerging markets, such as India, are facing a funding gap of USD two trillion”.

He further said that the aim of this digital platform is to support and help SMEs and MSMEs to expand their working capital base by lending them effective financial solutions in no time.

He also said that their organization also provide personal loans to individuals so that they can fulfill their dreams and aspirations by not involving them into a cumbersome process of accessing funds from big financial institutions.

He further said that “With our aim to provide easy access to credit and working capital to SMEs and MSMEs, 90 percent of our loans are targeted towards SME sector in India”.

Fintech established in April 2016, with a mission to fulfill the urban and rural credit requirements in order to avail the benefits to the lower income group as well.

The motive is to fill the wide gap in the market and reach out to those who have no access to banks and financial institutions.

Further company has built strategic connections with various other financial companies in order to enhance penetration and to strengthen its network of operation.

Source : KNN

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