Small businesses will opt for gold loans to restart business

Tuesday, May 05, 2020
Economic Times

 
Traders, shopkeepers and small businessmen will be the biggest takers of gold loans to restart their operations after the lockdown, according to leading gold non-banking finance companies (NBFCs) such as Manappuram Finance and Muthoot Finance.
Gold loans for business purposes are mostly used by small businesses as short-term working capital for stocking.

With gold prices hovering around Rs 47,000 per 10 gm, small businesses will need to take loans to resume operations, said industry executives.
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