Fino Finance, a NBFC-MFI subsidiary of Fino Paytech, is now offering loans for MSME customers. This in in addition to loans and finance the company offers to JLGs in remote rural areas. Fino Finance launched these loans in Delhi NCR. It is targeting small business owners such as those running kirana, garment, hardware, local dairy and beauty parlor outlets among others. Sudeep Gupta, COO, Fino Finance, said MSME loan is a continuation of the company’s endeavor to pursue growth opportunities and it plans to raise Rs 200 crore to fund this initiative and expect the MSME portfolio to touch Rs 250 crore in FY 18-19 and Rs 1000 crore in the next 5 years. The collateral based MSME loans have an average repayment time of 36 months and the ticket size ranges from Rs 1 lakh to Rs 15 lakh. Small business owners can use the loan amount as working capital to expand their business, increase income and improve quality of life.
