By Sandhya Michu
The concept of SarvaGram germinated from the phrases of Verghese Kurien: “India’s place in the sun would come from the partnership between the wisdom of its rural people and the skill of its professionals.” It is the execution of this concept that’s now Utpal Isser’s ardour. The co-founder, MD & CEO of this Mumbai-based fintech has spent most of his 20+ skilled years understanding the completely different features of life in rural India.
SarvaGram operates via a family centric mannequin of lending which treats the complete family as a cohesive financial unit, as towards conventional underwriting fashions which assess particular person revenue/paying capability earlier than sanctioning a mortgage. Since its inception in 2019, SarvaGram has served over 20,000 clients throughout three phase bases, particularly farm, MSME and salaried. Its main choices are farm mechanisation companies and mortgage choices, together with housing loans, gold loans, client sturdy loans, private loans, farm loans, and enterprise loans.
The mortgage quantity begins from 1 lakh goes as much as 25 lakh, aside from gold and client sturdy loans, for which the mortgage quantity could be lower than Rs 1 lakh. Out of its whole 20,000 clients, 10,000 are mortgage clients and 10,000, farm mechanisation clients.
“It took us a year to reach our first 1,000 customers, back in 2019,” says Isser. “In 2022, we onboarded over 1,000 customers in under one month. At the end of the fiscal year 2021, the total loan disbursement figures stood at Rs 26.34 cr. This jumped by 6x and stood at Rs 157 crore at the end of fiscal 2022,” he says.
Currently, SarvaGram is working in 4 states—Maharashtra, Gujarat, Rajasthan and Karnataka — via 50 branches and appears to scale this as much as 500 within the subsequent 5 years. The firm’s know-how platform completes mortgage purposes, from sourcing to disbursement, inside 7 days, and farm mechanisation orders are accomplished inside a day.
“All types of advanced farm equipment are provided through our SarvaMitra system on a pay-per-use basis,” says Isser. The proprietor of the SarvaMitra franchisee is a neighborhood resident, skilled and empowered by SarvaGram to facilitate credit score entry and farm mechanisation for MSMEs and agri-aligned entrepreneurs within the area. “Since the franchisee is a local resident , people feel confident about availing our services,” he concludes.
Source: www.financialexpress.com”