FlexiLoans to Offer Rs 100 Crore Loans to Nagpur MSMEs
MSME lender FlexiLoans, founded in 2016 by Manish Lunia, Ritesh Jain, and Deepak Jain, has registered over 65,000 loans worth over Rs 4,000 crore in the last seven years across India. The firm is supported by investors such as Sanjay Nayar and Falguni Nayar.
On Thursday, FlexiLoans announced plans to disburse Rs 100 crore in loans to more than 2 lakh registered users in Maharashtra’s Nagpur region by 2025. The company has already sanctioned over Rs 20 crore in loans to more than 500 MSMEs in Nagpur, driven by exponential demand from over 50,000 registered users in the region.
Regarding the disbursal target, Lunia highlighted Nagpur as one of FlexiLoans’ focus markets for lending to local MSMEs. “Today, we are disbursing more than Rs 100 crore a month and are on our way to fulfilling our vision of becoming India’s trustworthy financial partner for entrepreneurs and MSMEs,” said Lunia.
FlexiLoans currently has a total AUM of over Rs 1,500 crore and aims to disburse more than Rs 5,000 crore annually in 2024-25. In April of the previous year, the company had crossed Rs 1,000 crore AUM and had sanctioned over 70,000 loans worth more than Rs 3,400 crore.
According to a report by the Reserve Bank of India (RBI), the growth in loans given by NBFCs to MSMEs was over three times that of banks. As of March 2022 and March 2023
