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FinClub Unlocks Loan Scheme for Local Businesses



FinClub Unlocks Loan Scheme for Local Businesses

FinClub, a leading financial services provider, has introduced a new SME Loan offer aimed at helping small and medium-sized enterprises (SMEs) manage their liquidity needs efficiently.

The new initiative aiming to support local businesses by providing quick and flexible access to essential funds, targeting their growth and development.

According to Riken Toocaram, Chief of Marketing and Business Growth at FinClub, the company’s goal is to provide SMEs with the financial resources they need to thrive.

“Our objective is to provide businesses with the financial resources they need to prosper,” she explained.

FinClub added that SMEs are the engine of economic growth, and it is determined to help them reach their full potential.

Key Features of FinClub’s SME Loan:

Loan amounts ranging from Rs 50,000 to Rs 1 million

  • Flexible repayment period of 6 to 36 months
  • Interest rates starting from 10% per annum
  • Recent Statistics (as of April 30, 2024):
  • 6,737 loan applications received
  • Total loan amount: Rs 564.5 million
  • 909 facilitated loans worth Rs 83.4 million
  • Rs 7.4 million disbursed to independent workers and SMEs
  • Community of lenders: over 600 members
  • Cumulative interest gains: Rs 2.65 million (so far)

FinClub’s SME Loan is offering a unique opportunity for local businesses to access the funds they need to drive their growth and expansion. With its flexible repayment terms and competitive interest rates, FinClub is set to support the financial needs of SMEs.

Source: Defi Media

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