U GRO Capital forays into Hyd lending market

Hyderabad: U GRO Capital, a lending platform for small enterprises on Wednesday announced the launch of their operations in Telangana. The Bombay Stock Exchange listed company intends to disburse loans between Rs 10 lakh and Rs 5 crore to small enterprises in the state, operating under eight identified sectors.

Founded by Shachindra Nath, a financial service expert, U GRO Capital aims to build sector specific products, assessment frameworks and distribution networks."Hyderabad is a huge SME hub especially in the healthcare, education and automobile component space which are our chosen sectors.

We hope to provide aspiring entrepreneurs of this state with customised solutions," said Shachindra Nath, Executive Chairman and Managing Director, U GRO Capital. Further, the official informed that U GRO Capital has developed a data driven lending platform which leverages digital capabilities across the value chain,being customer acquisition, credit underwriting, and post-disbursal monitoring.

U GRO Capital plans to have nine branches present in Hyderabad, Ahmedabad, Delhi, Pune, Chennai, Bengaluru, Kolkata, Jaipur and Mumbai. The company has evaluated 1,300 channel partners of which,currently the company has narrowed down on nearly130 partners.