A study conducted by NeoGrowth, an MSME lending platform, showed that nearly 60% of businesses across all sectors anticipate the need for credit in 2024.
The wholesale, trading and services sectors expect the highest demand, with 64% of businesses seeking credit to boost their operations, according to the study.
The appetite for loans is expected to be the strongest in metropolitan hubs such as Bengaluru, Pune and Delhi. "The top three factors for consideration while choosing a loan provider in 2024 would&nbsp;digitally be quick disbursals, enabled loan journey and deal terms," NeoGrowth said in a statement. It added that the highest number of MSMEs in Delhi would choose a lender with a digital loan process, while those in Pune prefer loan providers with fast approvals&nbsp;and disbursals.
According to the study, 60% of MSMEs plan to open new stores and offer new products or services to their customers this year. The MSMEs in Bengaluru, Delhi, and Pune have shown willingness to expand their presence.

MSME credit demand to stay strong in 2024: Study

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{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 87 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.