Cash Suvidha Disburses Loans Worth Rs 410 Cr In FY18-19
It has substantially disbursed around Rs 410 crore of loans in the financial year 2018-2019 and targets to disburse Rs 1000 crore loan amount by the end of March 2020.
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Cash Suvidha extends business loans to micro, small and medium enterprises. MSMEs and personal loans to the individuals have grown exponentially in the last year. It has substantially disbursed around Rs 410 crore of loans in the financial year 2018-2019 and targets to disburse Rs.1000 crore loan amount by the end of March 2020.
The key challenge witnessed by the industry stakeholders is to obtain credit from the bank owing to a number of reasons. This has been predominantly addressed by Cash Suvidha with the successful disbursement of 70-75 per cent of the total loans to SMEs & MSMEs, in order to expand the horizon of financial inclusion for them. Cash Suvidha provides loans with a ticket size of Rs 50,000- 5, 00,000 for SMEs and 15,000- 50,000 for MSMEs.
The company is known for its quick digital processing, easy lending services and disbursing loans within three working days. It began its operation in May 2016. It is able to determine the best leads for credit and match them with the perfect kind of product. It also deals with woman empowerment at the micro-level.
Commenting on the development, Rajesh Gupta, the Founder said, “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 Rs.1000 crore of the loan amount”.