Paisalo launches smartphone app for disbursal of loans to MSMEs

New Delhi, Jan 27 (KNN) In a bid to provide easy credit to the Micro, Small and Medium Enterprises (MSMEs) of the country, Paisalo recently rolled out its new smartphone application for easy disbursal of loans.

With the new app in place, Paisalo will extend loans to MSMEs in the range of Rs 10,000 to Rs 50,000, with the loan repayment tenure of 1, 3, 6, 12, 18 and 24 months, the firm said in a statement,

The company is eyeing at sanctioning over 30,000 loan applications in FY-19 over the newly launched mobile application. So far, Paisalo has over 90,000 live borrowers and a total customer base of over seven lakh borrowers, the statement further said.

Paisalo Digital Limited is registered as a category “B” – Non Deposit taking NBFC with Reserve Bank of India. Initially, it was promoted as a private limited company under the Companies Act, 1956, on 05th March, 1992.

On 01.03.1995, fresh certificate of incorporation, consequent upon conversion to Public Limited Company was granted by the office of the Registrar of the Companies, Uttar Pradesh, Kanpur, the firm website says. (KNN/DA)