Arka Fincap has launched ‘Uday’, a Small Ticket Loan Against Property (STLAP) product aimed at supporting India’s growing Micro, Small and Medium Enterprises (MSMEs). This initiative reflects the company’s commitment to bridging the financing gap for small businesses in underserved regions, offering loans between Rs 10 lakh and Rs 30 lakh to MSME owners in tier-II, tier-III and tier-IV cities.
‘Uday’ initially will be launched in five key cities in Tamil Nadu—Salem, Vellore, Tirupur, Porur and Coimbatore, marking the beginning of a nation-wide expansion strategy. The company plans to extend this product across the country, ensuring that MSMEs in every region can access the necessary financial support to grow and sustain their businesses.
Vimal Bhandari, Executive Vice Chairman and Chief Executive Officer (CEO), said, “Our venture into the Small Ticket Loan Against Property segment with ‘Uday’ reflects our mission to empower MSMEs, particularly in regions where credit access has been limited. By offering quick and reliable loans, we aim to fuel entrepreneurial growth in smaller towns and cities, contributing to economic development from the ground up. Our focus is on fostering financial inclusion for MSMEs, the backbone of India’s economy.”
The launch of ‘Uday’ is a milestone in Arka Fincap’s mission to offer flexible and accessible financing options to MSMEs across India. By addressing the credit gap faced by small businesses, ‘Uday’ aims to help them grow and thrive in the long term.
Navin Saini, Chief Business Officer Retail and MSME Lending, Arka Fincap, said, “We are thrilled to introduce ‘Uday,’ marking our entry into the STLAP market. While this space has traditionally been dominated by Small Finance Banks and large Non-Banking Finance Companies (NBFCs), we see immense potential to differentiate ourselves by providing customer-centric and tailored solutions for the unique needs of MSMEs.”
