The Financial Services arm of the Mumbai-based multinational conglomerate Godrej Group -- Godrej Capital GCL has introduced a new offering in its loan against the LAP portfolio, called LAP 25. This is an industry-first product with a tenure of 25 years and is focused primarily on small and medium enterprises or SMEs to allow flexibility during the loan term.
LAP 25 will also be available in Chennai, Indore, Jaipur Chandigarh, Surat and Hyderabad besides existing markets in Delhi NCR, Mumbai Ahmedabad, Bengaluru and Pune. GCL is focusing on becoming the preferred lender for the SME segment, and they are launching a new offering.
With Design your EMI being one of the focal features of the company, GCL plans to address the issue of seasonal and uneven cash flows characteristic to SMEs in India. Godrej Capital will offer a choice to pay instalments quarterly or bi-monthly once in 2 months to enhance the options of flexible repayments.
For example, those eligible can pay interest for up to first three years of the loan, thus allowing the efficient use of the financing availed.
Godrej Capital MD and CEO Manish Shah said, "Our intent and approach has always been to address the credit supply gap through fair, fast, and flexible offerings.