U GRO Capital Improves Cash-Flow For Over 13,000 MSMEs: Report
The report was recently released in the presence of honorary SIDBI Chairman, Sivasubramanian Ramann at a physical event organised by the company
Photo Credit : ShutterStock,
U GRO Capital, a listed, MSME lending fintech platform, on Thursday announced the release of its impact assessment report. The study, which was conducted in association with Sattva consulting, an impact first consulting firm in the development sector, reinforces stakeholders’ confidence in U GRO’s resolve towards sustainability and Impact creation.
The report was recently released in the presence of honorary SIDBI Chairman, Sivasubramanian Ramann at a physical event organised by the company.
As part of the study, Sattva Consulting independently surveyed 450+ existing customers and partners of U GRO Capital. As an outcome of this study, it was deduced that U GRO’s sectoral focused approach directly aids multiple SDG goals like Affordable and Clean Energy, Quality Education, Good Health and Well-being, Sustainable cities and communities and Zero Hunger.
The impact assessment report measured U GRO’s business impact on the broad parameters of MSME Business and Operations, Employment Generation and Diversity, Credit taking ability and Entrepreneurial Confidence.
73 per cent MSMEs showcased healthier average bank balances resulting in 13,000+ estimated customers having improved cashflow situation. While 80 per cent MSMEs reported increased annual revenue by ~5 to 20 per cent, translating to 13,000 + estimated customers having increased annual turnover.
17 per cent MSMEs reported geographical expansion supporting 3,000+ estimated customers with new branches or stores. The findings said 70 per cent entrepreneurs reported in increased risk-taking appetite.
Shachindra Nath, Vice Chairman and Managing Director said, “Our founding belief at U GRO Capital has been to design a platform that brings the unserved or under-served MSMEs into the fold of formal lending. Impact has been at the forefront of all our business conduct. Today, we stand at more than Rs 3,000 Cr in assets under management (AUM) and have disbursed over Rs 5,600 Cr of loans till date."
"At one level, our business is often perceived as purely transactional, however when we delve a bit deeper, we realise how capital infusion, especially within the under-served sector, triggers a chain reaction of not just elevating business potential but also the entire social ecosystem. Being the catalysts to this, impact will continue to remain central to our mission at U GRO Capital", he added.
Around The World