LoanTap has entered into a strategic partnership with Bank of Maharashtra for extending loans to micro, small and medium enterprises (MSMEs). Under the co-lending model, LoanTap will bear the 20 percent exposure while the rest 80 percent will be borne by the bank. These loans are designed to serve the business needs of MSMEs, supporting their plans to grow and expand business.
Bank of Maharashtra offers several products and services in personal banking such as deposits, savings, personal loans, educational loans, demat services, credit cards, etc. The Bank also offers services to agricultural and SME sectors.