Money & Banking

U GRO Capital launches GRO Micro, adds 25 branches

Our Bureau Mumbai | Updated on February 19, 2021

The distribution channel will cater to unorganised micro businesses in non-metro markets

U GRO Capital has launched a dedicated distribution channel called GRO Micro to help lending services for the unorganised micro businesses in non-metro markets.

It has expanded its distribution network by adding 25 branches across five States — Karnataka, Tamil Nadu, Gujarat, Telangana and Rajasthan.

U GRO Capital sees disbursements at pre-Covid-19 level

Shachindra Nath, Executive Chairman and Managing Director, U GRO Capital, said the company aims to reach over five lakh small businesses across these five States through the launch of GRO Micro.

Covid-19 lockdowns: How much did the unorganised sector lose?

“We intend to carry our experience from these locations and expand our network by a further 75 branches by the end of 2021-22,” he further said.

Small-ticket loans

“The company aims to offer small-ticket loans secured against property, as well as unsecured loans, to micro businesses to help them in sustenance and stability in the post-pandemic era, meet their working capital needs to fix broken cash flows and cater to their business expansion needs,” it said in a statement.

With GRO Micro, U GRO Capital now has an extensive network of 34 branches and presence in eight States across the country.

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Published on February 19, 2021
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