Indore: UGRO Capital, a leading data-tech NBFC focused on MSME lending, in line with its business expansion plan, today inaugurated its new branch office in Indore at Office 212 & 214, Ground Floor, Dhan Trident. , located at Vijaynagar, Indore, Madhya. Pradesh, 452010. UGRO Capital now has 15 branches in Madhya Pradesh and plans to accelerate its focus on small business lending by expanding its network to 35 branch offices in the state in FY25.

The new branch was inaugurated by Ms. Indu Shrivastava, BJP Mahila Morcha Mandal Adhikesh – Indore and Shri Vikas Arora, MD, Gopalkrishna Petroleum and Gopalkrishna Cineplex, along with Mr. J. Sathian, Chief Business Officer – Micro Enterprises, U. GRO Capital was accompanied by Mr. Vinay Aggarwal, Business Head – Micro, UGRO Capital. This expansion will enable UGRO Capital to go deeper into the state, providing growth opportunities for small businesses by providing loans of up to Rs 25 lakh.

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The MSME sector is an important component of India’s economy, contributing about 30% of the country’s GDP, 50% of its exports, and providing employment to over 11 crore people. Madhya Pradesh boasts of over 2.3 lakh MSMEs registered on the Udyam and Udyam Assist platforms, contributing to the economic growth of the state and generating employment for over 7.1 lakh people. Indore, a prominent business hub of Madhya Pradesh, is home to many MSMEs. The new branch will allow a larger number of MSME customers to access UGRO’s comprehensive credit solutions, including business loans, property secured loans, equipment finance, and rooftop solar loans.

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Commenting on the recent branch expansion, Mr. Amit Munde, Chief Revenue Officer, UGRO Capital said, “We are delighted to expand our footprint in Madhya Pradesh with the new branch in Indore. A testament to our commitment to empowering businesses and driving economic growth in the region, we aim to provide financial support to MSMEs across the country and provide them with the financial support they need to grow their businesses. “

Since its inception six years ago, UGRO Capital has been dedicated to bridging the critical credit gap for MSMEs in India. Leveraging data and technology, the company aims to address every credit need of every MSME, taking credit to the last mile. Madhya Pradesh is of strategic importance to UGRO Capital, and the new branch in Indore represents an important step towards becoming the largest small business finance institution in the country.

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