Cash Suvidha, the trade name of Usha Financial services, extends business loans to SMEs, MSMEs, women entrepreneurs for income generation purpose & personal loans to individuals.
Cash Suvidha disbursed around INR 410crore of loans in the Financial Year 2018-2019 and is targeting to disburse INR 1000 crore loan amount by the end of March 2020. Cash Suvidha provides loans with a ticket size of INR 50,000-5, 00,000 for SMEs and 15,000-50,000 for MSMEs.
SME & MSME loans areone of the most sought-after categories of loans at Cash Suvidha. The key challenge witnessed by the industry stakeholders is to obtain credit from the bank owing to a number of reasons. This has been predominantly addressed by Cash Suvidha with the successful disbursement of 70-75% of the total loans to SMEs & MSMEs, in order to expand the horizon of financial inclusion for them.
Commenting on the development, Rajesh Gupta, Founder, Cash Suvidha said ‘Cash Suvidha is focused on filing the gap of financial inclusion in various segments by providing easy loans, hence, enabling the market towards economic growth. It has been an incredible year for us; we are growing rapidly and aim to clock higher revenue in the coming year. This financial year promises to bring even bigger opportunities for Cash Suvidha, and we are geared up for the same as we target to disburse nearly INR 1000crore of loan amount’.
The company is known for its quick digital processing, easy lending services and disbursing loans within three working days. Cash Suvidha is able to determine the best leads for credit and match them with the perfect kind of product.
Since its inception, Cash Suvidha has raised a total debt of USD 15.4 million and disbursed nearly INR 564 crore of loans to over 49,000 borrowers with an average ticket size of around INR 15,000-5,00,000.