Sunil Bajpai
Kanpur, Oct 27 : In a landmark announcement aimed at relieving local entrepreneurs and traders from the various hurdles created by banks, the newly established Jain Sons Fraternity Fund Private Limited is set to revolutionize access to loans.
During a recent meeting attended by prominent business leaders, including UP MTA’s patron Gulshan Gandhi and President Ajay Kapoor, it was revealed that this innovative initiative will provide loans at extremely low interest rates without the need for collateral, easing the financial burden on local businesses significantly.
The Fraternity Fund, formed with the support of the UP government, aims to empower entrepreneurs by offering a streamlined process for obtaining loans. “With this initiative, business owners will no longer have to endure the lengthy and often frustrating loan approval processes of traditional banks. They can now receive funds within just seven days, allowing them to focus on their business growth,” stated Praveen Kumar Jain, Convener Director of Jain Sons Fraternity Fund.
The fund offers a variety of chit options, including:
– Rs 50 lakh for 40 members
– Two 40-month tenures of Rs 30 lakh
– Two 30-month tenures of Rs 20 lakh
– One 20-month tenure of Rs 10 lakh
– Two 20-month tenures of Rs 7.5 lakh
This initiative promises access to more than one crore rupees immediately available for all who participate further, the fund will maintain strong financial practices, assuring members that their investments are secure.
In a community-driven spirit that aligns with the government’s vision of “Sabka Sath, Sabka Vikas, Sabka Vishwas,” Jain emphasized the commitment to supporting every member in overcoming financial obstacles.
The meeting ended on a high note, with attendees enjoying a delightful dinner and sharing their enthusiasm for this new opportunity. The gathering included many prominent figures from the business community, all eager to embrace the positive changes that Jain Sons Fraternity Fund aims to bring to Kanpur’s economic landscape.
