Focusing on offering MSME loans Capri Global ties up with SBI
Capri Global Capital Limited (CGCL), an NBFC focused on lending to MSMEs and the affordable housing finance segment, tied up with banking major State Bank of India (SBI) to offer MSME loans. Capri Global and SBI tie-up is likely to disburse MSME loans across over 100 touch points in India starting from December 2021.
This agreement has been signed under the co-lending guidelines issued by the RBI in November 2020. The collaboration will help MSMEs to avail customized lending solutions at a competitive rate of interest with a significant reduction in turn-around time.
The synergy of Capri and SBI are ideally placed to provide customized financial solutions to the borrowers. SBI's wide reach and trust in the market, coupled with Capri"s connection with the underserved borrowers, state-of-the-art IT infrastructure, increasing customer reach and underwriting functions will further enhance the distribution network of CGCL.
The co-lending agreement aims to enhance last-mile finance and drive financial inclusion to MSMEs by offering secured loans between Rs 10 lakh to Rs 100 lakh. The co-lending arrangement will entail the joint contribution of credit to the prospective MSME customers in Tier II and Tier III markets.