Maximal Fin set to disburse Rs 175cr loan in FY24

Hyderabad City-based financial service provider Maximal Finance and Investments on Monday said it aims to reach a total loan disbursal of Rs 175 crore in FY 2023-24. The company has disbursed over Rs 123 crore in loans out of which Rs 52 crore has been disbursed in Telangana. The finance provider targets to touch Rs 75 crore disbursements in the State by end of financial year 2024.

Citing a report from Invest Telangana, Maximal Finance said that the State records entrepreneurial success with 19,954 registered MSME units initiating operations since its inception. To support this thriving sector, Telangana State Industrial Infrastructure Corporation (TSIIC) has established 28 industrial parks spanning 2,500 acres of land.

R Vignesh, CEO, Maximal Finance said, “There are around 2.6 million MSMEs in Telangana, with 56 per cent situated in rural areas and 44 per cent in urban centres. These enterprises have collectively provided gainful employment to 363,488 individuals. In this digital transformation era, easy and swift access is crucial for the success of any financial inclusion initiative. The potential and opportunity are tremendous.”

The CEO further said that the aim is to reshape the existing model of financial partnerships within the MSME segment, propelling the country towards achieving its $5 trillion economy target by 2024.