By Accommodation Times Bureau
Paisalo Digital, Wednesday signed the first co-origination loan agreement with State Bank of India (SBI) for empowering the AGRI, MSME segment and small businesses, Introducing a platform for the last mile customer, the loan ticket is designed at Rs 10,000 to 2 lakh. The company expects to disburse 200,000 loan applications in FY20.
The company has AUM of over INR 2,000 Crore with a net worth of Rs 671.9 Crore and a CAR of 31.73% as on Q3FY19. It has serviced nearly 10,00,000 borrowers and has over 2,50,000 live borrowers.
Sunil Agarwal, Managing Director, Paisalo said, “We are delighted to associate with State Bank of India as their first co-lending partner, and are thankful to the State Bank of India for their trust.”
He added, “SBI and Paisalo intend to enable the customers to reach us with ease and use it for smooth loan disbursal and repayment easily. We aim at partnering with the people in the growth journey of their business and help them contribute to maximum job creation. Our loan ticket and tenure are designed to cater to this special segment for their working capital and other requirements.”