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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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