UGRO Capital expands its reach in Madhya Pradesh
UGRO Capital, a leading DataTech NBFC focused on MSME lending, in line with its business expansion plan, has today inaugurated its new branch office in Indore located at office 212 & 214, ground floor, Dhan Trident, Vijay Nagar, Indore, Madhya Pradesh, 452010. UGRO Capital now has 15 branches in Madhya Pradesh and plans to intensify its focus on small businesses loans by expanding its network to 35 branch offices in the state in FY25.
City Air News
Jul 10, 2024 09:14
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Indore, July 10, 2024: UGRO Capital, a leading DataTech NBFC focused on MSME lending, in line with its business expansion plan, has today inaugurated its new branch office in Indore located at office 212 & 214, ground floor, Dhan Trident, Vijay Nagar, Indore, Madhya Pradesh, 452010. UGRO Capital now has 15 branches in Madhya Pradesh and plans to intensify its focus on small businesses loans by expanding its network to 35 branch offices in the state in FY25.
The new branch was inaugurated by Indu Shrivastava, BJP Mahila Morcha Mandal Adhyaksh – Indore and Vikas Arora, MD, Gopal Krishna Petroleum and Gopal Krishna Cineplex accompanied by J Sathiyan, Chief Business Officer- Micro Enterprises, UGRO Capital accompanied by Vinay Agarwal, Business Head – Micro, UGRO Capital. This expansion will enable UGRO Capital to penetrate deeper into the state, offering growth opportunities for small businesses by providing loans up to INR 25 Lakhs.
The MSME sector is a crucial component of India’s economy, contributing approximately 30% of the nation’s GDP, accounting for 50% of its exports, and providing employment to over 11 crore people. Madhya Pradesh boasts over 23 lakh MSMEs registered on Udyam and Udyam Assist Platform, significantly contributing to the state's economic growth and generating employment for over 71 lakh individuals. Indore, a prominent business hub in Madhya Pradesh, is home to many MSMEs. The new branch will allow a greater number of MSME customers to access UGRO’s comprehensive credit solutions, including business loans, secured loans against property, equipment finance, and rooftop solar loans.
Commenting on the recent branch expansion, Amit Mande, Chief Revenue Officer, UGRO Capital said, “We are thrilled to expand our footprint in Madhya Pradesh with the new branch in Indore. The new branch is a testament to our commitment to empowering smaller businesses and driving economic growth in the region. Our goal is to provide financial support to MSMEs across the country and provide them with the financial assistance they need to grow their businesses.”
