HomeBusinessSamunnati crosses cumulative disbursement amount of Rs 37 Cr for its Instant Pre-approved Loans
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Samunnati crosses cumulative disbursement amount of Rs 37 Cr for its Instant Pre-approved Loans

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Samunnati an agri-value chain enabler, and India’s largest agri enterprise has said that “its Instant Pre-approved Loans (Sam IPL), the digital lending solution to nascent Farmer collectives (FPCs/FPOs), has crossed the cumulative disbursement amount of INR 37 Crores across 600 loans since its launch last year on July 21.”

The volume of loan disbursements stood at 33.1 Crores in FY ’22 and continued to see tremendous momentum in April itself as we kickstarted the new financial year. The online platform that provides instant pre-approved loans to small farmers with no collateral, fastens the credit availing processes like CIN check, CIBIL score check, PAN validation, and in-principle sanction letter. The digital loan seeking system thoroughly verifies the applications in a matter of minutes and covers loan amounts up to 5 lakhs rupees.

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Samunnati has been involved at the grassroots level in response to the challenges faced by the agri practitioners during the tough times of the pandemic. The Instant Pre-approved Loan (IPL) has introduced instant financial support and aims at providing financial aid to farmers in days. The revolutionary Instant Pre-Approved Loan is accessed via the FPO Gateway, where 800 FPOs had applied for Instant Pre-approved Loans since launch.

Speaking on the development, Anil Kumar SG, Founder & CEO of Samunnati said, “It is clear that the next wave of the digital revolution will be from Rural India and FPO Gateway aims to be at the forefront for enabling this revolution for FPOs. We believe there is a need for new business models and technology to come together to unleash the gold mine of Indian agriculture. Sam IPL is another step in that direction and strives to empower smallholder farmers by supporting them with not just credit, but customized and timely credit. The results we have seen in under 9 months of Sam IPL, strengthens our conviction in the principles behind Samunnati’s mission of unlocking the trillion-dollar potential of Indian agriculture.”

Since its inception in 2014, Samunnati has deployed over Rs 10,000 crore towards providing agri-commerce and agri-finance solutions to farmer collectives. To make agri-markets more efficient and to make them operate at a higher equilibrium, Samunnati is building India’s first open agri network. The open agri network serves as a holistic meta platform to bring together farmer collectives, agri-market players, traders, and institutional buyers fostering greater access to market linkages, input-output services, and more, thereby creating a higher equilibrium in agri-space.

In just 9 months of launch, Samunnati’s Instant Pre-Approved Loan (Sam-IPL) has seen disbursement of almost 600 FPO loans with 165 more in the pipeline With over 1500 farmer collectives being registered on its FPO Gateway platform, Samunnati has a member base of over 6 million farmers across 100 agri value chains and 22 states, Samunnati is committed to providing customized solutions that have resulted in reduced cost of cultivation, improved productivity, and increased member engagement of our customers.

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“As a farmer producer organization, we need business acumen to be able to scale our produce and yield. Samunnati has been instrumental in not only bridging our working capital needs (within a few days) but also instilling the scale acumen in the FPO through its capacity building initiatives and the measurable results are visible in our YoY turnover growth,” Jitendra Singh Tanvar, CEO of Bagli KPCL further added.

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Krishna Mali
Krishna Mali
Founder & Group Editor of TechGraph.
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