46 XX | Enlightener Series | C. Private Sector Schemes

Disclaimer….before you read ahead!

The information contained herein is of a general nature and for information purposes only, with the intent of raising awareness around various resources, schemes etc. available for women entrepreneurs in India. It is not intended to address the circumstances of any particular individual or entity. It does not purport to be all-inclusive or necessarily contain all the information that may be relevant for the reader, and may be subject to updation, revision or amendment. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to remain accurate in the future. The reader, therefore, is required to exercise their discretion; and not act on such information without appropriate professional advice after a thorough examination of the particular situation.

Furthermore, we are not a lender and are not authorized by the Reserve Bank of India to act as one. By disseminating the information contained herein, we are not soliciting any borrower or customers for the company or organization mentioned herein nor do we intend to syndicate any capital for the reader of this email.

About the scheme…

Narayani Scheme was launched on March 8, 2020 by U GRO Capital Limited (U GRO). It is an unsecured SME lending product designed exclusively for women entrepreneurs recognizing the value of their role in generation of employment opportunities and economic growth.

U GRO has presence spread across the country with 95 branches.

How is it being implemented?

Under Narayani Scheme, direct financial assistance, in the form of loans, is given to

Women entrepreneurs operating in 8 SME sectors and 38 SME sub-sectors that U GRO presently targets across Healthcare, Education, Chemicals, Food Processing/FMCG, Hospitality, Electrical Equipment & Components, Auto Components, Light Engineering. Please click here to know more about these sectors & sub-sectors

What’s on offer?

I. Product:

Term loans
Ticket size from ₹ 10 Lakhs to ₹ 50 Lakhs

II. Purpose:

Acquisition of fixed asset
Working capital requirements

III. Borrower Type

Individuals (23 – 65 years)
For information around the eligible business structure – Sole Proprietorship, Partnership, or Company; please contact U GRO via means mentioned below

IV. Security or Collateral or Guarantee or Insurance

Primary Security: First charge on assets created out of U GROs finance
Collateral Security: Nil
Guarantee: Nil
For information around requirement of insurance, please contact U GRO via means mentioned below

V. Interest Rate

U GRO offers 0.50% lesser RAAC (Risk Assets Acceptance Criteria) rate vis-à-vis rates of other unsecured SME lending products available for women entrepreneurs which ranges between 15 – 27%
For more concrete information around the interest rates, please contact U GRO Capital via means mentioned below

VI. Processing fee

VII. Margin money requirement

For information around margin money requirement, please contact U GRO Capital via means mentioned below

VIII. Tenure, Repayments & Pre-Closures

Tenure: ranges between 1 – 4 years
Pre-closure charges: Nil if loan is serviced for more than 18 months
For information around repayments etc., please contact U GRO Capital Limited via means mentioned below

IX. Turnaround Time

May take 4 -5 days
For more concrete information around turnaround time, please contact U GRO Capital Limited via means mentioned below

Interested? Read ahead to check your eligibility….

I. For information around eligibility criteria, please contact U GRO Capital Limited via means mentioned below

So…how big is this scheme and what has been done so far?

I. Details for Narayani Scheme by U GRO Capital don’t seem to be available in the public domain

So, now, how should you go about it?

I. For submitting application and documents:

Share your details here, and a U GRO representative will get in touch within 1 working day
OR
Visit a U GROW branch nearest to you. Scroll this link for details of U GRO’s 95 branches across the country

II. For information on indicative loan application form and list of documentation required to be submitted, please contact U GRO via means mentioned herein. However, details around Standard Terms & Conditions of loans can be found here

III. For any queries,

Please contact U GRO Capital on +91-22-41821600 from Monday – Saturday from 9.30 AM to 6.00 PM

Email info@ugrocapital.com

Raise an online query here

Visit a U GROW branch nearest to you. Scroll this link for details of U GRO’s 95 branches across the country

Go on then…and do spread the word!

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