MSME lender Red Fort Capital funds INR 100 million innovative precision manufacturing company

0
108
MSME lender Red Fort Capital funds INR 100 million innovative precision manufacturing company
MSME lender Red Fort Capital funds INR 100 million innovative precision manufacturing company

Red Fort Capital understood the client’s need and could disburse the loan within 10 days based on the company’s proven track record and promoter’s entrepreneurial spirit.

Red Fort Capital funds INR 100 million to Brick and Byte Innovative Products to support their working capital requirements. They are a leading sheet metal fabricator based in Navi Mumbai, Maharashtra. Their major customers include corporates like Bharat Electronics India, EON Global, Vertiv Energy, Tokheim, and more. Brick and Byte is a 20-year-old manufacturer with expertise in precision manufacturing and rapid prototyping services to meet the requirements of their clients. They had seen a resurgence in demand post-COVID and needed funds quickly to capitalize on the opportunity.

Red Fort Capital understood the client’s need and could disburse the loan within 10 days based on the company’s proven track record and promoter’s entrepreneurial spirit. Red Fort Capital stands firm with its goal of enabling MSMEs to grow and scale up their operations. MSMEs remain the backbone of the nation and a primary source of employment for the nation’s youth.

“Supporting business owners to sustain and grow stays at the heart of the underwriting policy of Red Fort Capital. With Brick and Byte, we saw the potential of the business model, commitment of the promoter, and the potential value it can create through this loan of ₹100 million.” – said Parry Singh, Founder & CEO of Red Fort Capital.

Brick and Byte hopes to double their revenue with an infusion of this debt into their working capital, effectively absorbing their excess capacity and scaling exponentially over the next few years.

“I needed funds to further expand my business and Red Fort Capital stood strong on their promise of speed and value creation. They understood the ins and outs of my business and were extremely transparent throughout the loan process,” said  Prashant Kamat, Promoter of Brick & Byte Innovative Products.

Red Fort Capital seeks to continue growing its loan book over the next 2 quarters and finance MSMEs that show commitment, character, and cash flow consistency. By understanding the issues faced by MSMEs in terms of working capital crunch, capacity expansion plans, etc., Red Fort Capital designs a debt finance structure to suit and support viable businesses.

Also readThe Transformative Power of Machine Learning on OTT Platforms

Do FollowCIO News LinkedIn Account | CIO News Facebook | CIO News Youtube | CIO News Twitter

About us:

CIO News, a proprietary of Mercadeo, produces award-winning content and resources for IT leaders across any industry through print articles and recorded video interviews on topics in the technology sector such as Digital Transformation, Artificial Intelligence (AI), Machine Learning (ML), Cloud, Robotics, Cyber-security, Data, Analytics, SOC, SASE, among other technology topics