Muthoot Fincorp Launches Business Mitra – Collateral-Free Daily Installment Loans for Micro and Small Businesses
Kochi, It’s no secret that India’s economic growth revolves around millions of retailers, traders and self-employed individuals.
Muthoot Fincorp is introducing an innovative and custom-made product ‘Vyapar Mitra Business Loan’ to help their business growth by providing working capital and loans for business improvement. Muthoot FinCorp launches Vyapar Mitra- collateral-free daily installment loans for micro and small businesses.
Through Business Mitra Business Loans, traders, business owners and self-employed individuals can avail business loans based on their daily cash flow without any additional collateral. A business friend specializing in the financial market can get a business loan without income tax return papers and any previous CIBIL score records.
Shop owners with daily income can avail the daily repayment option, which will reduce their interest outflow, making it more attractive than a business friendly bank loan. This new product also offers benefits like zero pre-payment charges, loan renewal three times in a year, easy and quick documentation, quick disbursement of loan.
Business Mitra is launching on February 15, 2023 and will be available in over 3600 Muthoot Fincorp branches across the country.
Shaji Varghese, CEO, Muthoot Fincorp Limited, said, “Muthoot Fincorp has always stood to transform the life of the common man of the country and provides access to the formal banking sector through MFL to the unbanked.
This is a custom-made product to meet the specific needs of customers, especially the daily income groups, and this time we want to do something for the micro and small enterprises of the country, who keep our economy vibrant. I am hopeful that Business Mitra will play an important role in boosting the economy by empowering the country’s retail traders and shoppers.”
Adding yet another achievement to its more than 136 transformative lives is yet another customer-centric solution developed by business friend Muthoot Fincorp. Business Friend is no different, earning praise for his empathetic and thoughtful products. It is specially tailored for each business segment, targeting specific demands and needs.
Muthoot Fincorp Limited is the flagship company of the Muthoot Pappachan Group and one of the leading NBFCs in the country, offering loans against gold and MSME loans. Built on trust, Muthoot Fincorp has over the years delivered a wide range of products and services targeting low and middle income families.
Serving 1,25,000 customers daily, Muthoot Pappachan Group has established its presence in Financial Services, Tourism, Transportation, Real Estate, IT Services, Healthcare, Precious Metals, International Services and Alternative Energy etc.