Cash Suvidha, India’s fastest growing NBFC and fintech company that extends business loans to SMEs & MSMEs and personal loans to the individuals has grown exponentially in the last one year. It has substantially disbursed around INR 410crore of loans in the Financial Year 2018-2019 and targets to disburse INR 1000crore loan amount by the end of March 2020.
SME & MSME loans are one of the most sought-after categories of loans at Cash Suvidha. 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 INR 50,000- 5, 00,000 for SMEs and 15,000- 50,000 for MSMEs.
Commenting on the development, Rajesh Gupta, Founder, Cash Suvidha, says, “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 INR 1000crore of loan amount.”
The company is known for its quick digital processing, easy lending services and disbursing loans within three working days. Cash Suvidha is able to determine the best leads for credit and match them with the perfect kind of product.
Since its inception, Cash Suvidha has raised a total debt of USD 15.4 million and disbursed nearly INR 564 crore of loans to over 49,000 borrowers with an average ticket size of around INR 15,000- 5,00,000.
Hence, the company is expecting to see a healthy growth rate in the future.
Cash Suvidha, the trade name of Usha Financial services, extends business loans to SMEs, MSMEs, women entrepreneurs for income generation purpose & personal loans to individuals. Apart from stirring the journeys of budding and longstanding entrepreneurs, Cash Suvidha, also deals with women empowerment on a micro level.
Cash Suvidha aims to fill the market gap that’s not allowing visionaries in uplifting their dreams towards real touch of business world – establishment or enlargement of a profit-making entity.
Cash Suvidha has efficiently served customers right from the era of cash to emerging cashless economy. Digital banking is an integral part of their operations. Through Cash Suvidha, digital-savvy entrepreneurs can avail financial services seamlessly as they navigate through their progressively digitized lives.
In terms of growth story, Cash Suvidha began its operations in May 2016 after which they have been playing a significant role in empowering people to fulfil their ambitions. Within a short span of one year of its operations, company has tied up with over 25-30 players to expand business across India and has targeted a 4x increase in processing loan applications. In terms of future plans, Cash Suvidha is targeting more tie-ups for business expansion.
Since its inception, Cash Suvidha has disbursed to 49,000+SMEs & MSMEs borrowers and the average ticket size of loan is Rs 15,000- Rs. 5,00,000.