NeoGrowth launches guaranteed loan offers for MSMEs

NeoGrowth launches guaranteed loan offers for MSMEs

By Leandra Monteiro

NeoGrowth Credit, an SME lending company the society in India today announced the launch of NeoCash Plus and Vendor Finance Plus as secured loan variants for MSMEs, to coincide with the ongoing MSME week. This is the first time the company has offered a range of secured loan products for small businesses.

The NeoCash Plus is for online and offline retailers who want to get the maximum loan on their residential, commercial, warehousing or industrial property. The loan, ranging in amount from INR 2 to 15 million, is offered for up to 60 months to businesses that have been in existence for at least three years. Vendor Finance Plus is launched for large enterprise vendors, suppliers, manufacturers and service providers.

Arun Nayyar, CEO of NeoGrowth Credit Pvt Ltd, said, “At NeoGrowth, we see small businesses struggling to grow due to their inability to access credit. We strive to help MSMEs overcome these financing challenges by offering business loans that are easy to apply for and convenient to repay. This new Plus Suite of Secure Lending Solutions complements our existing lending solutions and opens up new avenues of growth for a range of MSMEs looking for long-term, hassle-free loans. »

NeoGrowth provides financing to small business owners such as retailers, restaurants, clothing stores, kirana stores, gas pumps, grocery stores, pharmacies and other MSMEs, with flexible repayment options and products customized to meet multiple business needs. The Mumbai-based company claims to serve over 70 industries with a presence in 25 cities in India.