Sundaram Home Finance, a wholly-owned subsidiary of non-banking finance company Sundaram Finance, aims to disburse over ₹10 crore under the small business loan segment, a top company official said on Saturday.
The city-headquartered company has marked its presence in Coimbatore with the opening of an exclusive small business loan branch.
The company has similar branches at Madurai, Tenkasi, Theni, Sivakasi, Tirunelveli, Salem and Rasipuram.
The company’s managing director Lakshminarayanan Duraiswamy said, “We have received a positive response from the locations launched so far and are targeting disbursements of over Rs 10 crore from the small business loan segment by the end of this year.”
Sundaram Homes reported a 51% jump in net profit for the third quarter ended December 31, 2022 at ₹53 crore on disbursement of ₹986 crore.
On the opening of the new branch in Coimbatore, he said, “We have a strong presence in the Coimbatore region for our home finance business.
“We believe that we understand this market very well and are confident of tapping the opportunities in the small business lending segment in the region. We expect the Western Tamil Nadu market to become our leader in this new segment in the years to come. Will do well for.