RattanIndia Finance, a joint venture between Rajiv Rattan and US-based Private Equity (PE), Loan Star Funds has launched MSME loans to facilitate easier credit access to Micro, Small & Medium Enterprises (MSMEs). The company plans to cater the MSME segment with its retail lending offering which is powered by a newly developed technology platform and backed by strong data analytics to provide customers with an easy and seamless experience. MSMEs can avail a range of financial solutions vis-à-vis access to business loans, working capital, invoicing and supply chain financing which will help them accelerate their growth.
RattanIndia Finance aims to build USD 1 bn loan book in three years and has already built Rs. 1200 crore loan book across Corporate, Retail & SME segment. The company had launched its unsecured and secured loan offering for SME customers late last calendar year.
Speaking about the opportunity in financing the MSME sector, Mr. Rajiv Rattan, Chairman & CEO, RattanIndia Finance said, “MSMEs play a crucial role in the economic and social development of the country. Our key objective at RattanIndia Finance is to empower MSMEs to realize their full potential by helping them with their credit needs. We are greatly looking forward to filling a vast gap in credit availability and simplify borrowing experience in this sector.”
“2019-2020 will be our key period of growth, when we plan to scale-up our business and establish our position amongst the top 10 NBFCs in the products that we operate. Launch of MSME Loans is in line with our business expansion plan and supplements the product suite of SME secured and unsecured loans,” added Mr. Amit Mande, Head – Retail & SME, RattanIndia Finance.
RattanIndia Finance retail lending business currently offers Personal Loans, SME Secured and Unsecured Loans and Loan Against Property to salaried and self-employed customers. It plans to add more products in the consumer and SME space during the year.
RattanIndia Finance Ltd., a Consumer Finance company provides retail and corporate loans. The company was started in partnership with Lone Star Funds, one of the largest US-based private equity group. The company, a Systemically Important Non-Deposit Taking NBFC (NBFC-NDSI), is among the top NBFCs in India with committed equity capital of Rs. 2600 Crores.
RattanIndia Finance provides Loan Against Property, Business Loans to SMEs and Personal Loans to retail customers. The company also provides big-ticket corporate loans and has marquee clients as its customers.
[Published unedited, except the headline, via Business Wire India feed]