Finova Capital to expand to four new cities, extending loans to 1500+ MSMEs in Rajasthan

New Delhi, Apr 13 (KNN) Finova Capital, an NBFC licensed by Reserve Bank of India, plans to expand its service of providing loans to the MSMEs in Dausa, Reengus, Phulera, Kuchaman and Sri Madhopur regions of Rajasthan.

The company is looking forward to achieve its target of servicing over 1500 MSMEs by the year 2018.

Mohit Sahney, MD and CEO of Finova Capital has said that in the next phase of the company’s growth, it shall be expanding to hitherto unexplored cities like Dausa, Reengus, Phulera, Kuchaman and Sri Madhopur, with a target of servicing over 1500 MSMEs by 2018.

The Finova Capital as of now extends its services to more than 250 MSMEs, disbursing loans worth Rs 20 crore in the remote locations including Chomu, Bassi, Jobner and Bagru. Finova Capital offers loans with flexible ticket sizes and payback tenures. Depending upon the requirements, the small-scale business owners can take loans from 2 Lakhs up to 20 lakhs.

In March, Finova Capital said it would disburse loans worth Rs 100 crore in 2017 to the micro, small and medium enterprises (MSMEs) in India. The loans will be given to small business owners, with primary focus on electricians, plumbers, carpenters, hairdressers, tea stallers and food kiosk owners among others.(KNN/ DA)