Corporate News     21-Jul-21
Ugro Capital partners with Bank of Baroda to launch co-lending program for MSME
Ugro Capital announced the launch of a co-lending partnership for micro, small and medium enterprises (MSME) with Bank of Baroda, one of the largest banks in India. Termed as ‘Pratham', the loan disbursements have commenced on the occasion of Bank of Baroda's 114th Foundation Day. The program has been launched under Reserve Bank of India's revised co-lending guidelines.

'Pratham', a Rs 1000 crore co-lending program will allow the MSMEs to avail customized lending solutions at a competitive rate of interest with a significant reduction in turn-around time. The loan amount ranges from ₹ 50 lakh to Rs 2.5 crore to be offered at an interest rate starting from 8% with a maximum tenure of 120 months.

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