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09/04/2019 11:26am

PAISALO, SBI sign first co-origination loan agreement to empower MSMEs

image PAISALO, SBI sign first co-origination loan agreement to empower MSMEs

New Delhi, Apr 9 (KNN) With a vision to empower Micro Small and Medium Enterprises (MSMEs) and small businesses, PAISALO Digital Limited signed the first co-origination loan agreement with State Bank of India (SBI).

The move to collaborate intends to reach the customers with ease and use the platform for smooth loan disbursal and repayment easily.

PAISALO Digital Limited is a systemically important non-deposit taking NBFC registered with the Reserve Bank of India and has been in operations since 1992. The company expects to disburse 200,000 loan applications in FY20.

This NBFC registered firm operates business in various states including Uttar Pradesh, Maharashtra, Himachal Pradesh, Gujarat, Rajasthan, Delhi, Haryana, Punjab, Uttarakhand and Bihar.

In a statement, Managing Director of PAISALO, Sunil Agarwal said, "We aim at partnering with the people in the growth journey of their business and help them contribute to maximum job creation. Our loan ticket and tenure is designed to cater to this special segment for their working capital and other requirements."

Chief Innovation Officer of PAISALO Santanu Agarwal said, "We acknowledge the constructive disruption technology has brought in the lending space, we are committed to leveraging it to reach the maximum end-users at a minimum cost, a benefit that we can pass it on to them. We aim to be available-aware-affordable."

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