Arka Fincap Limited, an NBFC and part of the Kirloskar Group, launched ‘’Uday’, a new Small Ticket Loan Against Property (STLAP) product offering, in line with their ongoing focus and commitment to supporting India’s burgeoning MSME sector and bridging the financing gap. MSME business owners can obtain loans ranging from ₹10 lakh to ₹30 lakh. This product is designed to meet the expanding credit needs of small enterprises in Tier 2, 3, and 4 cities and towns, providing critical financial support for their growth and expansion.
‘Uday’ will be initially rolled out in five important places in Tamil Nadu: Salem, Vellore, Tirupur, Porur, and Coimbatore. This launch marks the start of a larger, pan-India push deeper into Bharat. Arka Fincap Limited has ambitious ambitions to expand the product’s accessibility to MSMEs across the country, ensuring that small business owners in all regions may take advantage of this accessible and flexible lending solution.
“Our foray into the Small Ticket Loan Against Property product segment with ‘Uday’ is a part of our constant endeavour to empower MSMEs, particularly in underserved regions,” said Vimal Bhandari, Executive Vice Chairman and CEO, Arka Fincap. “By providing quick and reliable access to credit, we can help foster the entrepreneurial spirit in smaller cities and towns, driving growth from the grassroots level. We are committed to creating financial inclusion and supporting the backbone of India’s economy—the MSMEs.”
Navin Saini, Chief Business Officer – Retail & MSME Lending, Arka Fincap, added: ” We are excited to introduce ‘Uday’, our latest product offering, marking a significant step forward as we expand our presence in the Small Ticket Loan Against Property (STLAP) segment. While this market has traditionally been dominated by Small Finance Banks and large NBFCs, we see a tremendous opportunity to stand out by delivering customer-focused and tailored solutions that cater specifically to the unique needs of MSMEs.”
The launch of ‘Uday’ marks a significant milestone in Arka Fincap‘s overall aim of providing customised, accessible financing solutions to MSMEs across India. With an emphasis on assisting businesses in succeeding, ‘Uday’ will be an important instrument in resolving the credit gap that many MSMEs experience, allowing them to develop and sustain themselves over time.
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Arka, a non-banking financial corporation (NBFC) having a CRISIL rating of AA/Stable for long-term and A1(+) for short-term borrowings with a positive outlook, may provide firms with growth capital. Arka Fincap’s AUM (as of 30 June 2024) is Rs. 5768 crore, with the SME business accounting for 53%. Arka is currently rolling out this product in the Southern market, and it will soon be available in other regions.
