To improve loan accessibility for the MSME sector, technology-driven lending platform Akme Fintrade (India) Limited and MAS Financial Services Limited have announced a strategic co-lending relationship. The partnership aims to increase finance access for underserved micro, small, and medium-sized businesses.
As per the co-lending arrangement, Akme Fintrade will cover the remaining 20% of the loan exposure, meanwhile MAS Financial will bear the remaining 80%. The goal of this agreement is to expedite the loan approval process and offer a quick and efficient system.
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On the latest development, Mr. Akash Jain, CEO of AkmeFintrade, said, "The co-lending model was introduced by the Reserve Bank of India to address liquidity challenges faced by non-banking finance companies (NBFCs) and boost credit flow to underserved sectors. This initiative allows us to make funds accessible to the end beneficiaries at a more affordable cost. The co-lending model is pivotal in helping us address the financial needs of these underserved communities.”
On Friday, the shares of Akme Fintrade closed at Rs 111.75. The 52 week high and low of the share is Rs 134.70 and Rs 93.05 respectively.
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