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Godrej Capital offers 25-year loan tenure product, LAP 25, primarily eyeing SMEs

Mumbai, 30 June, 2022: Godrej Capital Limited (GCL), through its subsidiaries, on Thursday announced the launch of a new offering in its Loan Against Property (LAP) portfolio called LAP 25. A press release issued by the company says that, the offering is primarily focused on Small and Medium Enterprises (SMEs) to allow flexibility of lower outflows during the loan term. 

With ‘Design Your EMI’ being the focal point, Godrej Capital is looking to address the nuance of seasonal and uneven cash flows, which are characteristic to SMEs in India. For example, eligible customers can choose to pay only interest for up to first three years of the loan; enabling efficient use of the financing availed. To further enhance the options of availing flexible repayments, soon, Godrej Capital will also launch an option to pay Installments quarterly or bi-monthly (once in 2 months).

Commenting on the product introduction, Manish Shah, MD & CEO, Godrej Capital, said: “The product offerings that we bring in are the basis of our learnings from the growing consumer segmentation & micro clusters that we have engaged with. Our intent and approach have always been to address the credit supply gap through fair, fast, and flexible offerings. As we expand, the introduction of LAP 25, an industry-first product offering, further highlights our focus on flexibility to empower our consumer base”.