UGRO Capital Limited, which is focused on the small scale MSME lending in the sector of DataTech as NBFC, has now launched its latest product "PRAGATI" which is meant for the women entrepreneurs. As the biggest obstacle to the process of granting the loans to women is usually too complicated due procedures and fees, UGRO Capital is offering a 50% discount on processing fees for loans disbursed until March 31, 2024 in order to minimize the loan process and increase the access of women to credit.
This initiative intends to help up to 50,000 women entrepreneurs in every state in the country by the year 2025 and through that to enable them to find their own way of getting to their ambitions.
Amit Mande, the CRO of UGRO Capital Limited, described the platform as a digital and streamlined approach to less documentations and faster approvals asking for women entrepreneurs. These components will make growth easier by enabling the company to go to an expansion and also access funds for working capital, equipment upgrade and solar installation on the rooftop.
"PRAGATI" loan is either with collateral or collateral free option with loan amount of up to five core rupees. UGRO Capital provides a modular system at favorable interest rates and with payment term consisting of 12 to 15 years, the choice for the latter is determined by the amount of loan taken.
Mandi highlighted the necessity of women entrepreneurs and their being effective factor in achieving economic progress and the creation of new ideas in India. Entrepreneurs act as an engine of productivity, job creation and GDP expansion. Therefore, they have a considerable impact on the society as a whole. The goal of UGRO Capital's innovative loan product is to provide the necessary support and assistance to women who wish to start their own business and aspire to be an intricate part of socio-economic growth respectively.
