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Seeds Fincap Pvt Ltd opens 51st branch at Samastipur, Bihar

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Business | November 26, 2022 2:32:18 PM IST
New Delhi [India], November 26 (ANI/GPRC): Seeds Fincap Pvt Ltd, one of the fastest-growing NBFCs, has opened its 51st branch at Samastipur, Bihar on 26 Nov 2022.

The opening of the new branch adds to SEEDS' growing network of branches across 5 States of India and aims to redefine MSME business loan requirements across multiple locations.

Located in Samastipur, SEEDS' new branch will provide customers with easy access to MSME business loans to fulfill the financial needs of MSME entrepreneurs with various range of products and services.

Seeds Fincap Pvt ltd has undergone remarkable progress and has taken a respectable position in the financial inclusion setup by bridging the gap between the demand and supply of financial services.

Gurgaon-based Seeds Fincap Pvt Ltd has disbursed around Rs170 crores worth of collateral-free loans to more than 21000 micro-enterprises that have feasible and promising investment ideas that can turn into profitable initiatives.

India has a versatile community cos of the different castes, incomes, regions, education, gender, etc. Seeds Fincap Pvt Ltd has impacted the social lives of people from various backgrounds. SEEDS is committed to meeting the credit needs of MSME entrepreneurs who can expand their businesses with the help of financial support and expand their incomes by many folds.

SEEDS is continuously working for women's empowerment too and helping women entrepreneurs by evoking their self-confidence and encouraging them to be financially independent.

Rural populations in India have a high level of financial exclusion due to a lack of access to formal finance because of limited knowledge of the availability of easy loans without the need for collateral and are underserved due to limited financial service providers.

SEEDS emphasizes focusing on rural entrepreneurs through 51 branches in Tier 2 and 3 towns through the disbursement of 80 per cent of the loans in the region.

An overwhelming majority of the nation is less educated but has high ambitions and capabilities to achieve success. But most of them are unaware of banking services or do not have any access to financial services. SEEDS aims to provide economically priced financial services to these and make them financially independent and successful entrepreneurs.

A system of social stratification like caste rests upon the unequal distribution of power and status. The social hierarchy of Indian society imposes several burdens on these socially, economically, and educationally backward sections. SEEDS emphasizes supporting them and helping them overcome the problems of social disabilities by empowering their dreams through disbursing more than 75 per cent of loans to this segment.

As per the latest reports, a fifth of MSME's credit requirements is fulfilled by banks. Most micro-entrepreneurs depend on their family, friends, and local moneylenders for their credit needs. A large proportion of the credit needs of micro-enterprises remain unfulfilled, and their growth potential is severely hampered due to a lack of access to credit. SEEDS' focus is to help them acquire or absorb new technologies, expand, compete in global markets, or forge business linkages with larger firms.

"Seeds Fincap Pvt Ltd aims to penetrate the sector where people are still untouched and unaware of such financial services by continuously expanding its presence in rural, untouched areas by opening new branches.

SEEDS' 51st branch in Samastipur was inaugurated by its MD and CEO Subhash Chandra Acharya. Speaking on this occasion, he said "The Seeds Fincap Pvt Ltd has touched the lives of more than 21000 entrepreneurs. Underserved and underprivileged people from different domains of education, caste, class, region, gender, and profession have taken our services. With their hard work, skill, and SEEDS' financial services, they have successfully improved their lifestyle and future. In a short duration, Seeds Fincap Pvt Ltd has become one of the most preferred lenders".

This story is provided by GPRC. ANI will not be responsible in any way for the content of this article. (ANI/GPRC)

 
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