Aye Finance disburses Rs 700 crores loans to MSMEs

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Aye Finance disburses Rs 700 crores loans to MSMEs

Aye Finance disburses Rs 700 crores loans to MSMEs

Industry News
May 28,18

The Gurgaon-based FinTech has disbursed 60,000 loans and emerged as a leading MSME lender in India.

Aye Finance disburses Rs 700 crores loans to MSMEs

New Delhi

The Gurgaon-based Micro, Small and Medium Enterprises (MSME) lender Aye Finance Aye Finance has disbursed 60,000 loans till date, enabling the growth and development of the crucial sector, said the company. As a result, the FinTech lender has emerged as a leading MSME lender in India. The company was established in 2014 with a vision to leverage technology in resolving the challenges encountered by MSMEs in accessing business funding.

Funded by three reputed investors (Accion, SAIF Partners and LGT), Aye has over a dozen debt partners including India's largest PSU Bank SBI; and leading global impact investors like BlueOrchard Finance Ltd, Triodos Investment Management and Symbiotics.

According to Sanjay Sharma, having disbursed 60,000 loans amounting to over Rs 700 crores since then, Aye is now poised as a leader in the space of MSME lending.

To best address the risk appetite and payback credentials of these enterprises that lack proper business documentation and credit histories, Aye Finance adopted a unique ‘Cluster Based Credit Assessment’ methodology. Understanding different industry clusters helped Aye Finance gain significant insights into the cash-flows and seasonal fluctuations of these enterprises.

Aye services over 50 industry clusters in India through its 73 branches, including sports goods manufacturing, hosiery, gota work, marble inlay work, dairy farming, jutti (foot-wear) manufacturing, etc.