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Indifi from Gurgaon has disbursed loans worth ₹2800 crore to small business owners

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  • Female entrepreneurs account for 20% of Indiatotal loan disbursements.
  • Indifi said it has disbursed 50,000 loans to more than 30,000 micro SMEs.
  • More than 64% of small business owner loans are concentrated in the Eastern, Northeast and Southern regions.

Indifi Technologies, a Gurgaon-based online lending platform, said it has provided 50,000 loans amounting to ₹2,800 crores in the past six years. These loans were provided to 30,000 micro-SMEs.

According to the
ministry definitionThe annual turnover of a micro-enterprise must be less than 5 crore and the investment in factories, machinery or equipment must not exceed 1 crore.

“Micro-entrepreneurs have struggled in the past with access to timely capital, but with advances in technology and data, the industry today has a lot of tailwind to change that,” said Alok Mittal, co-founder and CEO.

One fifth of Indifi’s loan disbursements went to female entrepreneurs. Furthermore, within the female-led companies, 25% of loans were provided to new borrowers and 25% to companies from tier 2, 3 and 4 cities.

Loans granted to micro-enterprises have increased. The portfolio of the Non Banking Finance Company-Micro Finance Institute (NBFC-MFI) rose 36.6% in India from Q3 FY 19-20 to Q1 FY 22-23, according to a report by Microfinance Institutes Network (MFIN).

“During the first quarter, the industry was in the process of implementing new harmonized regulations from the RBI. Despite that, growth has been good and the credit quality of post-Covid payouts is 95% plus. Through the remainder of FY 22-23, thanks to robust branch expansion, pent-up demand and favorable policies, the industry is poised for sustainable growth,” said MFIN Chairman Devesh Sachdev.

The report also said that more than 64% of loans for small business owners are concentrated in the eastern, northeastern and southern regions. The microfinance network consists of NBFC MFIs, banks, Small Finance Banks (SFBs), NBFCs and others (including non-profit MFIs).

As of June 30, 2022, 3.5 crore customers have outstanding loans with BFC MFIs, which is 13.8% higher than a year earlier, MFIN reports.

Despite recent growth, the credit gap vis-à-vis the SMEs is estimated at ₹40 lakh crore, due to entry barriers, costs and
to ensure. In India, microfinance institutions (MFIs) are present in 27 states and five union territories.

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