Surat MSMEs Benefit as Godrej Capital Achieves Rs 100 Crore Lending Milestone

Surat : Godrej Capital, the financial services arm of the renowned Godrej Group, has achieved a remarkable feat by disbursing Rs. 100 crore in just six months under its newly launched unsecured business loans tailored explicitly for Micro, Small, and Medium Enterprises (MSMEs) in Surat. This initiative is a part of Godrej Capital’s mission to make a significant impact in the MSME lending sector by capturing 10% of the market share in Surat.

Mr. Manish Shah, the Managing Director & CEO of Godrej Capital, expressed his enthusiasm about this accomplishment. He stated, “In just six months since the launch of MSME lending, Surat has become a frontrunner in Gujarat, with over Rs. 100 crore worth of loans disbursed to MSMEs.” Shah acknowledged the crucial role played by MSMEs in Surat’s economic landscape, contributing to job creation and fostering innovation.

Under the unsecured business loans, about 50% of the lending by Godrej Capital is done in Surat’s textile industry followed by pharma, FMCG and trading.

Shah emphasized Godrej Capital’s commitment to providing tailored financial solutions that address the unique challenges faced by MSMEs. The company’s focus is on empowering these businesses with flexible financing options through innovative products like unsecured business loans and enhanced Loan Against Property, alongside their digital platform, Nirmaan. This comprehensive approach aims to support MSMEs in overcoming obstacles and achieving new heights of success.

Understanding the specific cash flow management challenges MSMEs often encounter, Godrej Capital aims to provide accessible financing options that cater to their needs. The MSME loans come with several benefits, including a fully digitized process, quick sanction and disbursal, extended repayment tenures, and a pioneering reward program for timely repayments.

Godrej Capital’s partnership network of over 90 channel partners in Surat plays a pivotal role in delivering various product offerings to MSMEs. The city of Surat is a critical market for Godrej Capital, as it accounts for a substantial portion of private lenders’ monthly disbursements for secured and unsecured loans to MSMEs. The company’s ambitions extend beyond unsecured business loans, as it aims to expand its Loan Against Property business to serve a broader customer segment and offer a wider range of collateral options.

Mr. Shah also revealed that Godrej Capital has recently launched Nirmaan, a new digital platform designed to offer MSME owners comprehensive opportunities for business growth. Collaborations with prominent entities like Amazon Global Selling, Onsurity, Zolvit, and MSMEx have been established to enhance market reach, streamline legal compliance, improve employee health and welfare, and provide business coaching for small enterprises.

With a robust balance sheet of Rs. 7,000 crores, Godrej Capital envisions growing to INR 30,000 crores by the year 2026. The company’s extensive network of 1500+ channel partners and over 270 developers enables them to serve nearly 10,500 customers across a diverse range of products.