New Delhi, January 18, 2018 – Cash Suvidha, a leading Fintech company that caters to personal and business loan requirements, today announces the commencement of its operations in Rajasthan with the aim of targeting MSMEs, after possessing a strong foothold in Delhi NCR.
Cash Suvidha plans to extend a variety of loans such as Entrepreneur loans, MSME loans and personal loans in the geography, with the aim of propelling the MSME sector which is going through one of the major funding crisis in the country. As per a report released by the International Financial Corporation (IFC), small businesses in emerging markets, such as India, are facing a funding gap of $2 trillion.
Endeavoring to make the entire process hassle-free, Cash Suvidha provides loans within two working days.
Commenting on the same, Mr. Rajesh Gupta, Founder, Cash Suvidha, stated, “We are glad to make our entry into yet another proliferating market. With the rising digital penetration and growing competition all across industries, we acknowledged Rajasthan as one of next potential markets for Cash Suvidha, especially for investing in MSMEs.”
With the wave of entrepreneurship, percolating across the nooks and corners of the country, Cash Suvidha has been closely monitoring the business environment and helping potential MSMEs to propel by providing effective financial solutions in no time. It also helps individuals to avail personal loans to pursue their aspirations by avoiding the tedious process of accessing funds from larger financial institutions.
Cash Suvidha is driven by information-based lending, online application acceptance; best-in-industry interest rate and viability-based financing. It disburses loans in 48 hours at 19-28% on reducing balance EMIs. The decisions are taken based on its logarithms of human behavior, the social quotient of the borrower, etc. Cash Suvidha receives around 15,000 loan applications per month and has disbursed a total amount of 114 Cr. since its inception. The company recently raised a debt of $2.7 million from various financial institutions.
About Cash Suvidha:
Cash Suvidha is a Startup Fintech company, which extends business loans to SMEs, MSMEs, and women entrepreneurs & personal loans to individuals. Apart from stirring the journeys of budding and longstanding entrepreneurs, Cash Suvidha, also deals with women empowerment on a micro level.
Cash Suvidha aims to fill the market gap that’s not allowing the visionaries in uplifting their dreams towards the real touch of the business world – establishment or enlargement of a profit-making agency.
Cash Suvidha has efficiently served customers right from the era of cash to the emerging cashless economy. Digital banking is an integral part of their operations. Through Cash Suvidha, digitally-savvy entrepreneurs can avail financial services seamlessly as they navigate through their progressively digitized lives.
In terms of the growth story, Cash Suvidha began its operations in June 2016 after which they have been playing a significant role in empowering people to fulfill their ambitions. Within a short span of one year of its operations, the company has tied up with over 14-15 players to expand business across India and has targeted a 5x % increase in processing loan applications. In terms of future plans, Cash Suvidha is targeting more tie-ups for business expansion.
Since its inception, Cash Suvidha has disbursed to 27,000+ borrowers and the average ticket size of loan is Rs 50,000- Rs. 3,00,000.