Aye Finance disburses 60,000 loans worth INR 700 crores to MSMEs

New Delhi, May 28 (KNN) The Gurgaon-based Micro, Small and Medium Enterprises (MSME) lender Aye Finance has disbursed 60,000 loans to the sector till date, enabling the growth and development of the crucial sector.

Aye Finance has emerged as a leading MSME lender in India. Since its inception, in the year 2014 Aye Finance has been catering the needs of MSMEs by providing a financial assistance in the form of business loans.

Commenting on the stellar growth, Sanjay Sharma, MD & Co-Founder of Aye Finance said, “I strongly believe that if India has to rise with a social balance, the micro businesses at the bottom of the pyramid have to be enabled and empowered.”

Having disbursed 60,000 loans amounting to over INR 700 crores since then,   Aye is now poised as a leader in the space of MSME lending, he added.

Aye Finance adopted a unique “Cluster Based Credit Assessment” methodology to address the best risk appetite and payback credentials of these enterprises that lack proper business documentation and credit histories.

Understanding different industry clusters helped Aye Finance gain significant insights into the cash-flows and seasonal fluctuations of these enterprises.

Through its technological based approach like crowd CRM and teaching its borrowers to use non cash modes of payments, Aye Finance has been able to reduce the costs of origination and servicing of loans

Aye services over 50 industry clusters in India through its 73 Branches, including sports goods manufacturing, hosiery, gota work, marble inlay work, dairy farming, jutti (foot-wear) manufacturing, amongst others. 

Aye is equity funded by three reputed investors– Accion, SAIF Partners and LGT.

It has over a dozen debt partners including India’s largest PSU Bank SBI; and leading global impact investors like BlueOrchard Finance Ltd, Triodos Investment Management and Symbiotics.