Credifin Limited, a Metropolitan Stock Exchange of India listed NBFC, announced today the launch of its new EV Startup Loans product aimed at individuals and companies seeking to establish electric vehicle businesses. The loan program will provide up to Rs. Fifty Lakhs per entrepreneur to promote EV dealerships and related businesses across the country.
The company, headquartered in Jalandhar with its corporate office in Delhi-NCR, plans to leverage its presence in over 200 locations across 13 states to support 1,000 EV entrepreneurs within the next 2-3 years. Beyond financial support, Credifin will facilitate OEM partnerships, offer trade advances for inventory acquisition, and provide end-customer financing solutions.
Entrepreneurs receiving the loans will benefit from Credifin's established network of over 100 OEM partnerships in the E-Rickshaw, L5, and EV 2 Wheeler segments. The company will assist borrowers with dealership establishment, business lead generation, manufacturer partnerships, and vehicle registration procedures at no additional cost.
"We at Credifin are committed to Building Bharat and what better way to do this than to make sure that our entrepreneurs have an enabling environment. Our EV StartUp Loan is a product that makes sure that setting up a business is made as easy as possible and that we are with them all through, ensuring that they not just survive but thrive. We have today, one of the biggest EV networks and we believe that the time is ripe to use this network to help individuals realize their dreams of building successful businesses in a sustainable manner," says Shalya Gupta, CEO, Credifin Limited.
Credifin Limited, formerly known as PHF Leasing Limited, was incorporated in 1992 and has been registered with the Reserve Bank of India since 1998. Its current product portfolio includes Secured MSME Mortgage loans against immovable property and financing for electric vehicles. The company employs over 700 people and reported an Assets Under Management (AUM) of Rs. 350.77 Crore for the 2024-2025 financial year.