Cash Suvidha, a one-of-a-kind Fintech entity already caters to innumerable small businesses and MSMEs in the country. It has declared that more than 32, 000 SMEs, MSMEs, women entrepreneurs and startups have already received loans under its banner. Alternative lending solutions are offered by Cash Suvidha to its customers. This is a digital lending platform which offers swift loans to customers throughout the country in a lower period of time.
The company has already raised $5.2 million and loan amounts of Rs. 130 crore have already been disbursed by it. 15, 000 loan applications are received on an average each month by Cash Suvidha. The Fintech player aims at enabling more MSMEs and SMEs in emerging markets who are facing a gap in funding. The digital platform has a convenient application process for enabling these organizations to increase their working capital.
Personal loans are also provided to individual borrowers who do not wish to go through the rigmarole of applying across conventional lenders which involves cumbersome paperwork and lengthy processes. The company aims at offering more access to credit for MSMEs and SMEs and 90% of its loan portfolio covers this sector. The company also caters to people who do not have easy access to banks and NBFCs. There are tie-ups with other financial players in order to boost market outreach and networks. MSMEs and SMEs can apply for working capital loans and other funding from Cash Suvidha through its digital platform.