Arka Fincap Launches Uday to Provide Small Ticket Loans Against Property for MSMEs
Aimed at micro, small, and mediumsized businesses MSMEs, Arka Fincap Limited, a division of Kirloskar Oil Engines Limited KOEL, has introduced Uday, a
Aimed at micro, small, and mediumsized businesses MSMEs, Arka Fincap Limited, a division of Kirloskar Oil Engines Limited KOEL, has introduced Uday, a Small Ticket Loans Against Property STLAP product. The loans, which range from ₹10 lakh to ₹30 lakh, are intended to bridge the $530 million credit gap that small enterprises in Tier II, III, and IV cities encounter. These businesses suffer difficulties obtaining formal credit because of insufficient paperwork. Uday offers structured loans with predictable payback schedules and reduced interest rates compared to unstructured lending sources. Having started with five sites in Tamil Nadu, Arka Fincap intends to take this project nationwide to promote financial inclusion and assist the MSME sector, which presently accounts for a sizable portion of the companys ₹5,768 crore AUM.
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B2B Tech News | 1 months ago