Electronica Finance enters TS
image for illustrative purpose
Hyderabad Electronica Finance Limited (EFL), a leading Pune-based non-banking financial company (NBFC) specialising in financing the micro, small & medium enterprises (MSMEs) with a focus on financial inclusion and energy efficient machine financing, forays into Telangana market by opening seven branches in Warangal and Suryapet.
The company aims to cater to the aspirations of small businesses in Telangana by offering seamless credit facility in the most transparent manner. EFL is looking forward to offering its micro Loan Against Property (LAP) product in Telangana, after already offering in Gujarat, Rajasthan and Madhya Pradesh markets.
Through this, EFL’s product offering will enhance credit availability to MSMEs and individuals in Telangana and help them build a credible credit profile. The company also plans to open more than 50 branches across geographies including Telangana, thereby increasing penetration and entering new locations.
Shilpa Pophale, MD & CEO of EFL said, “It is estimated that Telangana is home to about 2.6 million MSMEs, out of which 56 per cent are in rural areas where EFL plans to give loans to customers who are borrowing for the first time."
