Usha Financial Opens New Branches in Uttar Pradesh to Support Women and MSMEs

Usha Financial, one of India’s leading Non-Banking Financial Companies (NBFCs), has expanded its branch network in Uttar Pradesh to a total of eight branches. This strategic growth aims to deepen financial inclusion in underserved regions, focusing on women entrepreneurs and micro, small, and medium enterprises (MSMEs).

The expansion is concentrated within a 250-kilometre radius of the corporate office to ensure strong operational oversight and consistent service quality. This approach combines physical presence with digital solutions to enhance customer engagement and convenience.

Usha Financial provides small-ticket loans tailored to the specific needs of women entrepreneurs and MSMEs, offering vital working capital on favourable terms. While previously serving this segment through partnerships with other NBFCs, the company is now moving towards direct customer engagement for greater impact and personalised service.

The expansion has generated new jobs, including branch managers, field officers, customer support staff, and back-office personnel. Additionally, as women entrepreneurs grow their businesses with Usha Financial’s support, further employment is created in retail, services, and supply chains, driving community development.

To improve customer experience, Usha Financial will soon launch a mobile application allowing customers to apply for loans, upload documents, and track progress digitally. This will speed up approvals, reduce paperwork, and provide staff with real-time access to information, marking a key digital milestone.

Commenting on the expansion, Mrs Geeta Goswami, CEO of Usha Financial, said, “Our mission is to bring formal financial services closer to those who need it most. By expanding our branch network and integrating digital tools, we are committed to empowering women entrepreneurs and MSMEs, helping them unlock their full potential and contribute to their communities.”

Usha Financial plans to increase its branches to 15 within the 250 km radius this financial year. While no partnerships with local bodies exist currently, the company is open to exploring collaborations in future to extend its impact.