Mumbai: UGRO Capital Limited, a DataTech NBFC focused on MSME lending, recently announced the launch of its all-new business loan “PRAGATI” for women entrepreneurs.
Simplifying loan processes and offering 50% discount on processing fees for loans disbursed until March 31, 2024, the initiative aims to facilitate nationwide by 2025 over 50,000 women’s access to credit and foster their entrepreneurial drive, said Amit Mande, Chief Revenue Officer, UGRO Capital Limited.
The new product offers women entrepreneurs (owners/co-owners of the business/enterprise) a digital platform, minimal documentation, and expedited approvals, while being tailored to fuel business growth through supporting expansion, working capital, equipment upgrades, or sustainable initiatives like Rooftop Solar installation, he said.
“Pragati loans are available as secured or unsecured business loans upto Rs 5 crores, with competitive interest rates and repayment terms ranging from 12 months to 15 years according to the loan taken,” he added.
“Women entrepreneurs are pivotal in fuelling the economic advancement of inclusive societies and nurturing innovation in India,” Mande said, adding “Their tenacity, resolve and entrepreneurial zeal make substantial contributions to job generation, GDP expansion and societal advancement.”
