Poonawalla Finance Private Limited, a systemically important non-deposit taking NBFC, has entered into an MOU to offer a collateral-free special term loan scheme with an aim to benefit over three lakh Chartered Accountants, who are the members of the ICAI. The loan scheme will further shore up their financial requirements towards their professional practice as well as to meet their personal exigencies at a time when COVID-19 has caused liquidity crunch across all sectors.
Poonawalla Finance has received more than 4,000 loan applications and has sanctioned loan worth Rs.150 crore to more than 1,500 Chartered Accountants within the first month of the launch of this scheme.
The unique term loan, tailor-made scheme for the Chartered Accountant professionals, offers an attractive interest rate, zero prepayment charges, 100% online digital processing and gives the option to take over their existing loans with higher interest rates.
"It is delightful to have the special loan scheme to support the credit needs of the Chartered Accountant professionals in these unprecedented times. We believe that offering credit support to the MSMEs and professionals like Chartered Accountants and Doctors for business development will further strengthen entrepreneurial ecosystem and boost economic growth," said Mr. Adar Poonawalla, Chairman, Poonawalla Finance.
While commenting on the loan scheme, Mr. Abhay Bhutada, MD and CEO, Poonawalla Finance said, "This special loan scheme is a part of our mission to offer credit support to enterprises and individuals so that they can meet their credit requirements. In the prevailing market scenario when access to credit has emerged as a challenge, our affordable and digitally-enabled loan scheme will help chartered accountant professionals fulfil their aspirations. This will help us expand our reach nationwide and fuel enterprise-driven growth."