Sundaram Home Finance is planning to double the number of small business loans (SBL) branches to more than 20 in the first half of this fiscal.
In October last year, the company forayed into the small business loans segment — where it will lend up to ₹20 lakh, to small businesses in tier-3 and tier-4 towns.
Since then the company has opened over 10 exclusive SBL branches in small towns such as Madurai, Coimbatore, Salem, Tirunelveli, Arupukkottai, Rasipuram, Krishnagiri and Theni in Tamil Nadu.
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“We have had positive feedback from small businesses across the locations and we are now planning to expand into more tier-3 and -4 towns in TN,” said Lakshminarayanan Duraiswamy, MD, Sundaram Home Finance.
The company hired about 100 people for this segment in H2 of FY22 and plans to hire another 100 in the first half of this fiscal.