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U GRO Capital, SBM Bank Partner Launches MSME Credit Card

Small business finance company UGRO Capital Announced a partnership with SBM Bank and launched the “GRO Smart Business” credit card for small and medium-sized enterprises (MSME).

“GRO Smart Business” credit cards with RuPay and EnKash are designed for small businesses with a shortage of banks (MSME), UGRO Capital borrowers are available for SBM Bank India time deposits.

In a statement released, the company said: “Credit cards provide a gateway for MSME entrepreneurs to solve multiple financial challenges: purchasing equipment and consumables, managing vendor payments, etc. business Manage utility payments and refunds for employee travel and entertainment expenses. “

Shachindra Nath, Executive Chairman and Managing Director of U GRO Capital, said of the launch: GRO Smart Business credit cards allow MSME customers to effectively manage their urgent credit requirements and cash flow. “

“MSMEs face a frequent need for urgent credit, and responding to them has become a challenge, causing significant cash flow disruption. This arrangement allows businesses to effectively address these situations. We have always sought influential solutions to support the resurgence and growth of the country’s MSME. We believe this collaboration is an important initiative in the right direction. ” Added Nath.

Regarding this initiative, Neeraj Sinha, Head of Consumer & Retail Banking at SBM Bank India, said: Technology, And collaboration to create your own smart solution. The launch of the “GRO Smart Business” credit card follows the same strategy. We are proud to partner with UGRO Capital for new products. “

MSME, which is eligible for a business loan from U GRO Capital, has expanded its incremental funds to open a time deposit account at SBM Bank, and credit cards are maintained in the name of the applicant for time deposit security. Shall be provided.

The terms of this credit facility are subject to UGRO Capital’s existing policies.

Post UGRO Capital, an SBM Bank partner for launching credit cards for MSME, first appeared on TechGraph.

U GRO Capital, SBM Bank Partner Launches MSME Credit Card

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