neogrowth: NeoGrowth gets ready for the holiday season, launches the SME loan carnival


MUMBAI: To boost credit flows to small businesses ahead of the holiday season, NeoGrowth announced the launch of the Carnival Business Loan for MSME clients as part of its D2C initiatives.

Currently underway in Mumbai, Bangalore, Hyderabad and New Delhi, the carnival is held in October and November. The company has simplified and digitized the process to help MSMEs obtain hassle-free loans for their various business needs. Small business loan approvals are expedited with instant point-of-contact approval for the upcoming holiday season. NeoGrowth also engages with customers through competitions with prizes.

NeoGrowth’s new business volumes are already at pre-COVID levels, with new products such as NeoCash Insta Loan, Vendor Finance Express contributing to this growth. The new offering, called Prêts Plus, addresses the increased ticketing needs of customers. New product offerings feature various features such as end-to-end digital process, instant approval driven by AI / ML based dashboards.

In a statement, NeoGrowth CEO Arun Nayyar said, “With the second wave behind us, this year Indian consumers are expected to shop near pre-COVID levels. This will give the much needed boost to retailers, small businesses and the economy as a whole. ”

To help businesses prepare for the future, NeoGrowth also offers diGibiz, which allows small businesses to assess their digital readiness and helps them upgrade and be more competitive. The company has partnered with 31 partners and offers 16 categories of services for small businesses to digitize their operations as needed. To date, more than 24,000 SMEs have participated on the diGibiz platform.

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