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U Gro Capital & Laghu Udyog Bharati set to support India’s MSMEs

By Gloria Mathias

December 06, 2023

  • DataTech
  • Financial Solutions
  • fintech India
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U GRO Capital, Mastercard, Financial Solutions, SMEs, SMBs, Fintech news, Underwriting solutions, Loans, Lending, Women Entrepreneurs, India News, India Fintech News, MSME solutions, U GRO Capital, a DataTech NBFC focused on MSME lending, and Laghu Udyog Bharati, an organisation dedicated to supporting and promoting micro-enterprises, have launched an awareness campaign designed to empower India’s micro-enterprises with knowledge about government schemes, digital credit, and strategies for success in today’s ever-evolving business landscape.

The importance of MSMEs cannot be overstated, as they account for a substantial portion of India’s GDP and play a crucial role in poverty reduction and inclusive development. However, for these businesses to thrive, access to credit and financial resources is paramount.

This collaboration is set to have a positive impact on microenterprises in India, promoting their growth and success. Under this partnership, U GRO Capital, along with Laghu Udyog Bharati, will host a series of seminars, workshops, and events in over 100 micro markets across India. These events are aimed at educating and empowering the network of small businesses empanelled with Laghu Udyog Bharati.

U GRO Capital, known for its financial products and proprietary underwriting model, GRO Score 3.0, is well-equipped to support cashflow-based lending to MSMEs. This approach offers an effective means of extending credit to micro-enterprises, aiding them in their growth journey.

Om Prakash Gupta, All India General Secretary, Laghu Udyog Bharati, said, “Laghu Udyog Bharati has always been committed to supporting and promoting micro-enterprises in India – from enhancing gainful employment to their sustained growth. Our collaboration with U GRO Capital aligns perfectly with our mission and vision of helping MSMEs achieve their potential. We believe that providing education and awareness about government schemes and digital credit will be a game-changer for small businesses in India.”

Shachindra Nath, Vice Chairman and Managing Director of U GRO Capital, shared, “At U GRO Capital, our mission is to address the credit needs of over 1 million small businesses in India over the next three years. This partnership with Laghu Udyog Bharati will be instrumental in helping us reach, educate, and empower the MSMEs, providing them with inputs which enable them ready to embrace credit solutions. We view this collaboration as a significant step toward realizing our mission.”

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