Capri Global Capital Limited (CGCL), a NBFC focused on MSMEs, the affordable housing finance segment has entered into a co-lending agreement with the Union Bank of India (UBI), to offer MSMEs loans. Through this collaboration, CGCL and UBI aim to disburse loans across 100+ touch points pan-India. Disbursement of the loan under this agreement would commence from December 2021.
This agreement is signed under the guidelines issued by the Reserve Bank of India in November 2020 for syndicated loans to the Priority Sector. The collaboration will help MSMEs take advantage of customized loan solutions at a competitive interest rate, while significantly reducing delivery times. The agreement enhance last mile credit and promote financial inclusion for MSMEs by offering secured loans between Rs 10 lakh to Rs 100 lakh. The co-lending agreement will involve a joint contribution to credit to the prospective MSME customers in Tier II and Tier III markets.
Rajesh Sharma, Managing Director of Capri Global Capital Limited, said in a statement: “Through this partnership, the aim is to reach a large part of the community by offering easy, convenient and efficient credit solutions and empower them to be key contributors to fiscal growth. Our focus is to support grassroots entrepreneurship that creates economic value. "
"The partnership with CGCL is part of UBI's strategy to support MSMEs by providing tailor-made financial solutions and accelerating the growth of MSMEs to contribute to the economic development of the country," said Rajkiran Rai G, MD and CEO, Union Bank of India, in a statement.
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