FlexiLoans to Boost Credit for Small Businesses in Nagpur

By Tanya Yadav --
Monday, 03 Jun, 2024

FlexiLoans, a prominent non-banking financial company (NBFC) focused on lending to micro, small and medium enterprises (MSMEs), is ramping up its efforts to support small businesses in the Nagpur region of Maharashtra. The company has announced an ambitious target to disburse Rs 100 crore in loans to over 2 lakh registered MSME users in Nagpur by the year 2025.

This move comes on the back of FlexiLoans witnessing exponential demand from the Nagpur market, where it has already disbursed over Rs 20 crore in loans to more than 500 MSMEs. With a registered user base of over 50,000 in the region, the company recognizes Nagpur as a priority market for its MSME lending operations.

The company's focus on Nagpur aligns with the growing importance of NBFC lending in supporting the MSME sector. According to a recent report by the Reserve Bank of India (RBI), NBFC credit growth to MSMEs has outpaced that of banks, highlighting the crucial role these non-banking lenders play in catering to the financing needs of small businesses.

With an assets under management (AUM) portfolio of over Rs 1,500 crore, FlexiLoans is targeting annual disbursals of more than Rs 5,000 crore in the upcoming financial year 2024-25. This ambitious goal underscores the company's commitment to addressing the credit gap faced by MSMEs, which are often underserved by traditional banking channels.

By providing accessible and tailored financial solutions, FlexiLoans aims to empower the MSME ecosystem in Nagpur and beyond, fostering entrepreneurship, job creation, and economic growth in these regions. The company's digital-first approach and streamlined loan processes further enhance the ease of access to credit for small business owners.

As the MSME sector continues to play a pivotal role in India's economic development, initiatives like FlexiLoans' Nagpur push will be instrumental in unlocking the full potential of these enterprises, ultimately contributing to the nation's overall progress and prosperity.

FlexiLoans to Boost Credit for Small Businesses in Nagpur. FlexiLoans, a prominent non-banking financial company (NBFC) focused on lending to micro, small and medium enterprises (MSMEs), is ramping up its efforts to support small businesses in the Nagpur region of Maharashtra. The company has announced an ambitious target to disburse Rs 100 crore in loans to over 2 lakh registered MSME users in Nagpur by the year 2025.

This move comes on the back of FlexiLoans witnessing exponential demand from the Nagpur market, where it has already disbursed over Rs 20 crore in loans to more than 500 MSMEs. With a registered user base of over 50,000 in the region, the company recognizes Nagpur as a priority market for its MSME lending operations.

The company's focus on Nagpur aligns with the growing importance of NBFC lending in supporting the MSME sector. According to a recent report by the Reserve Bank of India (RBI), NBFC credit growth to MSMEs has outpaced that of banks, highlighting the crucial role these non-banking lenders play in catering to the financing needs of small businesses.

With an assets under management (AUM) portfolio of over Rs 1,500 crore, FlexiLoans is targeting annual disbursals of more than Rs 5,000 crore in the upcoming financial year 2024-25. This ambitious goal underscores the company's commitment to addressing the credit gap faced by MSMEs, which are often underserved by traditional banking channels.

By providing accessible and tailored financial solutions, FlexiLoans aims to empower the MSME ecosystem in Nagpur and beyond, fostering entrepreneurship, job creation, and economic growth in these regions. The company's digital-first approach and streamlined loan processes further enhance the ease of access to credit for small business owners.

As the MSME sector continues to play a pivotal role in India's economic development, initiatives like FlexiLoans' Nagpur push will be instrumental in unlocking the full potential of these enterprises, ultimately contributing to the nation's overall progress and prosperity.