Aye finance empowers expansion of south Indian MSMEs

| Updated: Apr 25, 2017 21:11 IST

New Delhi [India], Apr 25 (ANI): In order to empower the expansion of the Indian MSME sector , Aye Finance is delivering business loans against mortgage or simple hypothecation accessible to India's thriving and underserved MSME sector. Founded in the year 2014 by bankers Sanjay Sharma and Vikram Jetley, Aye Finance has rapidly grown its footprint through 33 branches spread across India. Recognising the states of Tamil Nadu and Karnataka as the centers for manufacturing, handloom, and a variety of small-scale industries, Aye Finance has already disbursed loans worth Rs. 10 crore to the Micro and Small Entrepreneurs in these states. Aye Finance offers business loans to deserving micro enterprises that do not have prior credit bureau history. This effective credit appraisal coupled with the use of modern workflow automation and an engaged workforce is helping bridge the gap between the MSMEs and organised lending. Aye Finance has already impacted an ecosystem of over 100,000 families through its business enterprise loans and it is driven by a vision to impact over 10 million households by 2020 and become an admired player in its space. (ANI)