Poonawalla Finance Private Limited has inked a Memorandum of Understanding (MOU) in a bid to offer a collateral-free special term loan scheme with an aim to benefit over three lakh Chartered Accountants, who are the members of the ICAI.
Further, the loan scheme will try to meet the financial requirements aimed to boost their professional practice as well as to meet their personal necessities at a time when Covid-19 has caused liquidity crunch across all sectors.
The finance provider revealed in its communiqué that it has received over 4,000 loan applications and has sanctioned loan worth Rs 150 crore to more than 1,500 Chartered Accountants within the first month of the launch of this scheme.
“It is delightful to have the special loan scheme to support the credit needs of the Chartered Accountant professionals in these unprecedented times. We believe that offering credit support to the MSMEs and professionals like Chartered Accountants and Doctors for business development will further strengthen entrepreneurial ecosystem and boost economic growth,” said Mr. Adar Poonawalla, Chairman, Poonawalla Finance.
While commenting on the loan scheme, Abhay Bhutada, MD and CEO, Poonawalla Finance said, “This special loan scheme is a part of our mission to offer credit support to enterprises and individuals so that they can meet their credit requirements. In the prevailing market scenario when access to credit has emerged as a challenge, our affordable and digitally-enabled loan scheme will help chartered accountant professionals fulfil their aspirations. This will help us expand our reach nationwide and fuel enterprise-driven growth.”