July 21, 2023: Godrej Capital, the financial services arm of the Godrej Group, announced the launch of unsecured business loans tailored specifically for micro, small and medium-sized enterprises (MSMEs). Recognising the pertinent challenges faced by these businesses, the company aims to provide accessible financing options that address their unique needs of cash flow management by offering innovative and flexible repayment options.
The loan also provides several other benefits, including a fully digitised process, quick sanction and disbursal, tenure of up to 60 months and an industry-first reward programme on timely repayments.
“MSMEs are vital to India’s economic growth, contributing to job creation, innovation, and overall prosperity. However, these businesses often need help accessing timely and flexible financing solutions. Challenges such as lack of collateral and seasonal business cycles can hinder their growth and expansion plans. Godrej Capital is addressing this by providing flexible lending solutions that allow MSMEs to repay their loans in sync with their business cycles,” the company said in a statement.
Godrej Capital will be offering business loans across Mumbai, Bangalore, Delhi-NCR, Pune, Ahmedabad, Surat, Indore, Chennai, Hyderabad, Jaipur, Chandigarh, Alwar, Aurangabad, Baroda, Coimbatore, Jalandhar, Jodhpur, Kanchipuram, Mangalore, Salem, Ludhiana, Mysore, Nagpur, Nashik, Rajkot, Udaipur, Vapi, Vijayawada, Rangareddy, Vishakhapatnam and Thane.
“We understand the challenges MSMEs face and their critical role in driving economic growth and are happy to expand our product offerings through unsecured business loans. We have expanded our geographic presence and now offer business loans in 31 key markets. We are committed to becoming a lender of choice for MSMEs by developing innovative, flexible products that complement the cashflows of a business owner,” said Manish Shah, chief executive officer, Godrej Capital.
Godrej Capital recently launched a new digital platform, Nirmaan, to provide MSME owners with an all-inclusive opportunity to grow their businesses. The company has initially partnered with Amazon Global Selling, Onsurity, Zolvit, and MSMEx to help increase the potential market reach, simplify legal and compliance, enhance employee health and welfare, and provide business coaching for small businesses.
Godrej Capital is the financial services arm of the Godrej Group. It is a subsidiary of Godrej Industries and is the holding company for Godrej Housing Finance & Godrej Finance. Godrej Capital offers home loans, loans against property and business loans. The company currently has its footprint across Mumbai, Bangalore, Delhi, Pune, Ahmedabad, Surat, Indore, Chennai, Hyderabad, Jaipur, Chandigarh, Alwar, Aurangabad, Baroda, Coimbatore, Jalandhar, Jodhpur, Kanchipuram, Mangalore, Salem, Ludhiana, Mysore, Nagpur, Nashik, Rajkot, Udaipur, Vapi, Vijayawada, Rangareddy, Vishakhapatnam and Thane. Since starting business operations in November 2020, Godrej Capital has built a balance sheet of Rs 6,500 crore across housing, SME and MSME loans.
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