Pratham, a Rs 1000 crore co-lending program will enable the MSMEs to avail personalized lending options at a aggressive charge of curiosity with a vital discount in turn-around time. The mortgage quantity ranges from Rs 50 lakh to Rs 2.5 crore to be provided at an rate of interest ranging from 8% with a most tenure of 120 months.
In a assertion, Shachindra Nath, Executive Chairman and Managing Director, U GRO Capital mentioned, “It is a reiteration of the value and trust that the bank places on our ability to leverage sectoral expertise and technology to solve the unsolved credit need of the MSMEs. We look forward to nurturing this essential relationship in our bid to support more MSMEs in the remotest locations, to help them revive and grow.”
Shachindra Nath, Executive Chairman and MD, U GRO Capital
“We believe that forging such partnerships is the way forward and collaborative efforts leveraging individual entities’ expertise are of utmost importance to take co-lending to MSME segment to the next level. This is an advancement in the same direction,” mentioned Vikramaditya Singh Khichi, Executive Director, Bank of Baroda in a assertion.
Pratham program requires minimal documentation whereas offering financing to MSMEs. U GRO Capital’s proprietary developed platform GRO-Xstream, permits quicker turnaround time, with an in-principle approval issued inside 60 minutes. A variety of MSMEs together with the not too long ago added wholesale & retail merchants beneath precedence sector can avail credit score by way of this program. The program is accessible to MSMEs throughout 200 channel contact factors round 9 areas, i.e. Delhi, Jaipur, Ahmedabad, Pune, Mumbai, Bangalore, Chennai, Hyderabad and Kolkata.