SATYA MicroCapital forays into Gujarat market
Biznextindia : SATYA MicroCapital, one of India’s fastest growing Micro Finance Institution (MFI) has forayed into the Gujarat market by opening its first store in Ahmedabad. The branch was inaugurated by Ravi Kumar, VP, Individual Micro Loan, SATYA MicroCapital on 30th January 2020. With this, the total number of branches of Satya has increased to 135 across 21 states & union territories.
“Our first new branch in Ahmedabad is part of a strategic initiative to deliver wide range of microfinance services to a cross-section of people at the bottom of the pyramid in this historically & culturally important city. We are confident that the people of Gujarat will welcome our presence in the city & avail an array of our products & services’’ said Vivek Tiwari, MD & CEO, SATYA MicroCapital Ltd.
Earlier, in an exclusive chat with Biznextindia, Mr. Tiwari had said that SATYA is eying 45-50% growth in the current financial year. The MFI has also set a target to touch 8 lakh households in both rural and semi-urban markets by the end of FY 21. He had also said that, the MFI is planning to reach every states of the country in the coming years.
SATYA MicroCapital has already reached the milestone of catering to over 3.5 lakh active entrepreneurs within 3 years of its operational journey. The MFI is also catering to a diverse range of unique Loan Products to its wide client base, primarily married women who own businesses and are looking for means of expansion, income growth or income generation.