Union bank & Capri Global Capital in a co-lending partnership to MSMEs

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New Delhi: Union Bank of India has entered into a co-lending partnership with Capri Global Capital, under which they will disburse loans to MSMEs.

Capri Global Capital Ltd (CGCL) is a non-banking financial company focused on lending to MSMEs and the affordable housing finance segment.

The co-lending agreement aims to enhance last-mile finance and drive financial inclusion to MSMEs by offering secured loans between Rs 10 lakh to Rs 1 crore, the public sector lender said in a statement.

Through this collaboration, Union Bank of India and CGCL aim to disburse MSME loans initially across 100-plus touch points across India, it said.

The pact between the two companies is as per the guidelines issued by RBI in November last year on co-lending to the priority sector.

The collaboration will help MSMEs avail customized lending solutions at a competitive rate of interest with a significant reduction in turnaround time.

Source- PTI