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New Delhi [India]Nov 26 (ANI/GPRC): Bij Fincap Pvt Ltd, one of the fastest growing NBFCs, opened its 51st branch in Sastipur, Bihar on 26 Nov 2022. The opening of new branches adds to SEEDS’ growing network of branches Aims to redefine MSME business loan requirements across 5 states and multiple locations in India.
Located in Samsipur, the new branch of SEEDS will provide customers with easy access to MSME business loans to meet the financial needs of MSME entrepreneurs for a wide range of products and services. SEEDS FinCap Pvt Ltd has achieved significant progress and has taken a respectable position in financial inclusion setup by bridging the gap between demand and supply of financial services.
Gurgaon-based Seeds FinCap Pvt Ltd has disbursed collateral-free loans of around Rs 170 crore to over 21000 micro-enterprises that have potential and promising investment ideas that can turn into profitable ventures. India has a diverse community of different castes, incomes, regions, educations, genders, etc. Seeds FinCap Private Limited has impacted the social lives of people from various backgrounds. SEEDS is committed to meet the credit needs of MSME entrepreneurs who can expand their business and multiply their income with the help of financial support.
SEEDS is also continuously working towards women empowerment and helping women entrepreneurs to become financially independent by building their confidence. The rural population in India has a high level of financial exclusion due to lack of access to formal finance as they are disadvantaged due to limited knowledge about the availability of easy loans without the need for collateral and limited financial service providers.
SEEDS emphasizes on focusing on rural entrepreneurship through 51 branches in tier 2 and 3 cities with 80 percent credit disbursement in the region. An overwhelming majority of the nation is less educated but has high ambition and capacity to achieve success. But most of them are not aware of banking services or have no access to financial services. SEEDS aims to provide them economically valuable financial services and make them financially independent and successful entrepreneurs.
Social stratification systems like caste depend on the unequal distribution of power and status. The social hierarchy of Indian society imposes several burdens on these socially, economically and educationally backward sections. SEEDS emphasizes on supporting them by strengthening their dreams and helping them to overcome the problems of social disability by disbursing more than 75 percent of loans in this category. According to a recent report, one-fifth of the credit requirements of MSMEs are met by banks. Most micro-entrepreneurs depend on their family, friends and local moneylenders for their loan needs. A large portion of micro-enterprises’ credit needs remain unmet, and their growth potential is severely hampered by lack of access to credit. The focus of SEEDS is to help them acquire or exploit new technologies, expand, compete in global markets, or establish business linkages with larger firms.
“Seeds Fincap Pvt Ltd continues to expand its presence in rural, untouchable areas by opening new branches to enter the sector where people are still untouchable and unaware of such financial services. Chandra Acharya. Speaking on the occasion, he said, “The Seeds Fincap Pvt Ltd has touched the lives of more than 21000 entrepreneurs. Disadvantaged and underprivileged people from different domains of education, caste, class, region, gender and profession have availed our services. With their hard work, skills and financial services of SEEDS, they have successfully improved their lifestyle and has improved the future. In a short period of time, Seeds Fincap Pvt Ltd has become one of the preferred lenders”.
This story was provided by GPRC. ANI shall not be responsible in any way for the content of this article. (ANI/GPRC)
(This story was not edited by Devdiscourse staff and was generated automatically from a syndicated feed.)
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