- Several platforms expect loan applications from to surpass last year's figures
- Heightened consumer activity is expected to translate into a surge in MSME credit demand
Several platforms expect loan applications from small businesses to surpass the previous year's festive season figures, and have attributed the increase to healthy consumption in sectors such as auto, consumer durables, electronics and fashion. In fact, the RBI's recent survey on consumer confidence also indicates an improvement in the spending sentiment.
"It is clear that consumer spending is on the rise. The heightened consumer activity is expected to translate into a surge in MSME credit demand," said Arun Nayyar, managing director and CEO of NeoGrowth. The platform has seen loan demand for financing working capital, growth and expansion remaining resilient so far this year.
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