BharatPe loan-book crosses Rs 1,000 Cr; targets Rs 1,250 Cr disbursal by March
Small merchants-focused credit supplier BharatPe has grown 10X during the fiscal year so far, surpassing its full-year target of lending Rs 1,000 Cr of loans, and now expects to end the fiscal disbursing over Rs 1,250 Cr, a top company official said.
BharatPe has given loans to over 1.1 lakh merchants across 75 cities. It lists Delhi-NCR, Bengaluru, Hyderabad and Pune as its top performing cities where credit demand has been led by customers/merchants from groceries, food and beverages, and fashion, retail and beauty segments. Given the run-rate it is clocking now, it has set an internal target of disbursing Rs 7,500 crore next fiscal and a customer target of 10 lakh small merchants and kiranas, he added.
BharatPe offers loans in the range of Rs 20,000 to Rs 7 lakh, for up to 12 months. It prices them in the 18-24 per cent range depending on the tenor and collects through its QR code, additionally the borrower can repay in daily installments too as most its repeat borrowers are small SMEs and small retailers.