Simplifying the loan process, offering a 50% discount on processing fees for loans disbursed until March 31, 2024

Mumbai, 07th March 2024 (GNI): UGRO Capital Limited, a leading DataTech NBFC focused on MSME lending has announced the launch of an all-new business loan, ‘PRAGATI’, for women entrepreneurs. Demonstrating its dedication to women empowerment, U GRO Capital simplifies loan processes and offers a 50% discount on processing fees for loans disbursed until March 31, 2024. The initiative aims to facilitate women’s access to credit nationwide and foster their entrepreneurial drive. The company aims to reach over 50,000 women entrepreneurs across the country in FY25.

The newly introduced product streamlines the loan process for women entrepreneurs, offering a digital platform, minimal documentation, and expedited approvals. Tailored to fuel business growth, these loans support diverse needs such as expansion, working capital, equipment upgrades, or sustainable initiatives like Rooftop Solar installation. Pragati Loans are available as secured or unsecured business loans up to Rs. 5 crores, with competitive interest rates and repayment terms ranging from 12 months to 15 years depending on the nature of the loan taken. Eligibility requires women borrowers to own or co-own the business/enterprise.

Mr. Amit Mande, Chief Revenue Officer, UGRO Capital Limited, expressed his enthusiasm for the launch of PRAGATI, stating, “PRAGATI, meaning ‘growth’, perfectly aligns with our core beliefs. It is more than just a business loan; it’s a symbol of our unwavering commitment to empowering women entrepreneurs. With simplified processes and discounts, we aim to break down barriers and pave the way for their success.”

Women entrepreneurs are pivotal in fuelling the economic advancement of inclusive societies and nurturing innovation in India. Their tenacity, resolve, and entrepreneurial zeal make substantial contributions to job generation, GDP expansion, and societal advancement. Acknowledging their significance, U GRO Capital is committed to delivering customized financial solutions to bolster their ventures.

About UGRO Capital Limited (NSE: UGROCAP I BSE: 511742): UGRO Capital Limited is a DataTech Lending platform, listed on NSE and BSE, pursuing its mission of “Solving the Unsolved” for the small business credit gap in India, on the back of its formidable distribution reach and its Data-tech approach.

The Company’s prowess in Data Analytics and strong Technology architecture allows for customized sourcing platforms for each sourcing channel. GRO Plus module which has uberized intermediated sourcing, GRO Chain, a supply chain financing platform with automated end-to-end approval and flow of invoices, GRO Xstream platform for co-lending, an upstream and downstream integration with fintechs and liability providers, and GRO X application to deliver embedded financing option to MSMEs. 

The credit scoring model GRO Score (3.0) a statistical framework using AI / ML driven statistical model to risk rank customers is revolutionizing the MSME credit by providing on-tap financing like consumer financing in India.

UGRO has executed a Co-lending model in India which is prevalent in the West through Co-Lending relationships with 10+ Large Public Sector Banks and large NBFCs and built a sizeable off-balance sheet asset of more than 45% of its AUM through the GRO Xstream platform.

The Company is backed by marquee institutional investors (raised INR 900+ Cr of equity capital in 2018 and INR 340 Cr in 2023) and aims to capture a 1% market share over the next three years. For more information, please visit: www.ugrocapital.com