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The non-banking finance company’s rooftop solar finance product, Capri Solar Finance, targets a loan book size of INR 1,000 crore in the coming years.
Capri Global Capital Ltd (Capri Loans), a non-banking finance company, has launched its rooftop solar finance product, Capri Solar Finance. The loan is available for homeowners, commercial establishments, salaried individuals, MSMEs, and factories seeking to install solar solutions.
“Capri Solar Finance offers a hassle-free financing solution with no collateral, and minimal documentation. This fastens loan approval time to under five minutes and disbursals are completed in just 4-6 hours,” stated the company.
Capri Global has partnered with Credit Fair, a renewable energy fintech company, to onboard customers digitally to avail loans ranging from INR 50,000 to INR 25,00,000 at competitive interest rates, which covers the entire cost of solar modules, inverters, batteries, and installation, making it a comprehensive option for self-use solar projects. Credit Fair will increase access to credit through its digital platform.
Amar Rajpurohit, CBO (MSME Loans) of Capri Global Capital Ltd, said, Capri Solar Finance aims to reach a loan book size of INR 1,000 crore in the coming years in this business. The first phase of rollout will focus on Rajasthan, Madhya Pradesh, and Gujarat, with plans to expand to Delhi, Maharashtra, Uttar Pradesh and Uttarakhand by year-end.
On partnership with Credit Fair, Rajpurohit added, “We are building an ecosystem with India’s major solar panel manufacturers and EPC installers to further accelerate our mission. Credit Fair’s digital platform would drive widespread adoption of solar energy and empower households and businesses in Tier 2, 3, and 4 cities to generate their own electricity, while contributing to India’s solar energy goals. Vendors listed with Credit Fair will be able to avail the benefits of Capri Solar Finance credit.”
Capri Solar Finance would allow flexible repayment options with a tenure of up to five years for new customers and six years for existing customers of Capri Loans. The loan is available for homeowners, commercial establishments, salaried individuals, MSMEs, and factories seeking to install solar solutions.
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