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Mumbai, 3rd July 2024: Capri Loans, a leading non-banking financial company, is set to expand its footprint by opening 70 Micro-Loan Against Property (LAP) branches across six states in the fiscal year 2025. This growth strategy targets regions in southern India, including Andhra Pradesh, Telangana and in northern states like Madhya Pradesh, Gujarat, Rajasthan, and Uttar Pradesh.
The company plans to onboard approximately 550 skilled professionals, to ensure effective customer service in these branches. As part of this expansion, Capri Loans recently inaugurated two new micro-LAP branches in Bhopal region. This initiative aims to provide secure, small-ticket loans against property to self-employed individuals and business owners in the region. The average ticket size for micro-LAP is 5 lakh rupees for an average tenure of 60 months.
With flexible financial solutions, loans offering for nano-enterprise would range from 2-10 lakh rupees. Digitalisation will result in less paperwork and simplified credit underwriting where the Turnaround Time on loan disbursement will be as low as seven days. Capri Loans will promote these products primarily through below-the-line marketing strategies, aimed to reach a broader audience effectively.
Mr. Khalil Mohammad (Lead – Micro LAP) at Capri Loans emphasized, “MSMEs are vital for India’s economic growth and development, driving employment, manufacturing, exports and fostering innovation and entrepreneurship. At Carpi Loans, we are committed to empower MSMEs and make credit accessible to the underserved segments of society. We understand the challenges faced by businesses in the weaker section of the society. Our micro-LAP facility serves beneficial for those who don’t have documented income and struggle to qualify for loans. We aim to offer flexible and tailored credit solutions to fuel their growth ambitions supporting community development”.
