Money & Banking

Capri Global and Union Bank to co-lend to MSMEs

Our Bureau Mumbai | Updated on November 24, 2021

The co-lending agreement aims to enhance last-mile credit by offering secured loans between ₹10 lakhs to ₹1 crore

Capri Global Capital Limited (CGCL) has entered into a co-lending agreement with Union Bank of India (UBI) to offer loans to micro, small and medium enterprises (MSMEs) across 100-plus touch points pan-India.

Loan disbursement under this arrangement would commence from December 2021, Capri Global Capital Limited said in a statement.

Financial inclusion

CGCL emphasised that the co-lending agreement aims to enhance last-mile credit and drive financial inclusion to MSMEs by offering secured loans between ₹10 lakhs to ₹1 crore.

The co-lending arrangement will entail joint contribution of credit to prospective MSME customers in Tier 2 and Tier 3 markets.

Rajesh Sharma, Managing Director, Capri Global Capital Limited, observed that through this partnership, the aim is to reach out to a large section of society by offering easy, convenient, and efficient credit solutions and empowering them to be key contributors to fiscal growth.

“Our focus is to support the grassroots entrepreneurship that creates economic value,” he said.

Also see: Equitas SFB ties up with HDFC Bank for co-branded credit cards

Rajkiran Rai G, MD and CEO, Union Bank of India, said, “The partnership with Capri Global Capital Limited is part of UBI’s strategy to support the MSMEs by providing tailor-made financial solutions and accelerating the growth of MSMEs to contribute to the country’s economic development.”

Published on November 24, 2021

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