Cash Suvidha to disburse Rs 400 cr loan to 50,000+ borrowers in FY' 18-19

Last Updated: Apr 24 2018 | 5:06 PM IST

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New Delhi, Apr 24 (ANI): Cash Suvidha, a fintech startup that began its operations in May 2016 by extending business loans to SMEs, MSMEs, and personal and women entrepreneurs has added another feather to its cap. It has disbursed around Rs 122 crore of loans in the Financial Year 2017-2018 and targets to disburse Rs 400 crore loan amount by the end of March 2019. In the last financial year, the maximum loan disbursement i.e., nearly 70 per cent of the total loans was provided to the SME sector which generally finds it difficult to obtain credit or working capital from the banks owing to a number of reasons. "India today boasts of nearly 50 million firms that can be classified under the SME category and are innovatively pacing themselves up to cater to the ever-increasing needs of the growing population. In addition, the number of women entrepreneurs in India is also growing at a fast pace. In such times, Cash Suvidha is playing a significant role in empowering SMEs, MSMEs, individuals