Chennai, Feb 10 (UNI) – Targeting the West TN market, Sundaram Home Finance (SHF) today opened an exclusive small business loans branch in the Textile city of Coimbatore.
The new branch will provide small business loans up to Rs. 20 lakhs against residential property to support the business growth and working capital requirements of this small business segment.
Following its foray into the small business loans segment in October, SHF has opened branches in Madurai, Tenkasi, Theni, Sivakasi, Tirunelveli, Salem and Rasipuram.
Company MD Lakshminarayanan Duraiswamy said “We have a strong presence in the Coimbatore region for our home finance business. We believe we understand this market well and are confident of tapping into the opportunity in the small business loan segment in this region”.
“We expect the West TN market to do well for us in this new segment in the coming years”, he said.
On the initial response from this segment, he said, “We have had positive feedback from the locations we have launched so far and are targeting to end this year with disbursements of over Rs.10 crores from small business loans segment”, he added.
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