UGRO Capital Limited, a leading DataTech NBFC focused on MSME lending, unveiled a new business loan, ‘PRAGATI’, for female entrepreneurs. U GRO Capital demonstrates its commitment to women’s empowerment by simplifying loan processes and offering a 50% reduction on processing expenses for loans granted until March 31, 2024. The initiative aims to improve women’s access to finance across the country and encourage their entrepreneurial spirit. In Fiscal Year 25, the company hopes to reach over 50,000 female entrepreneurs across the country.
The newly announced solution accelerates the loan procedure for female businesses by providing a digital platform, less documentation, and faster approvals. These loans, designed to stimulate business growth, cover a wide range of needs, including expansion, working capital, equipment upgrades, and sustainable initiatives such as rooftop solar installation. Pragati Loans are available as secured or unsecured business loans of up to Rs. 5 crore, with attractive interest rates and repayment lengths ranging from 12 months to 15 years, depending on the type of loan selected. Eligibility requires that women borrowers own or co-own the business/enterprise.
Amit Mande, Chief Revenue Officer, UGRO Capital Limited, expressed his enthusiasm for the launch of PRAGATI, stating, “PRAGATI, meaning ‘growth’, perfectly aligns with our core beliefs. It is more than just a business loan; it’s a symbol of our unwavering commitment to empowering women entrepreneurs. With simplified processes and discounts, we aim to break down barriers and pave the way for their success.”
Women entrepreneurs play a critical role in accelerating the economic growth of inclusive communities and promoting innovation in India. Their persistence, resolution, and entrepreneurial fire significantly contribute to job creation, GDP growth, and societal improvement. Recognising their importance, U GRO Capital is devoted to providing tailored funding solutions to support their ventures.
Also Read | U GRO Capital Raises Rs 2500 Mn through NCDs to help MSMEs
