Credifin launches EV Start-up Loans project to support entrepreneurs
Autocar Professional, 13 May '25
Credifin, a non-banking financial company (NBFC) listed on the Metropolitan Stock Exchange of India, has announced the launch of its new EV Start-up Loans product.
This initiative is aimed at individuals and companies intending to establish businesses in the electric vehicle sector.
The loan programme will provide up to Rs. 5 million (US$ 58,860) per entrepreneur to support the development of EV dealerships and related enterprises across the country.
Headquartered in Jalandhar, with a corporate office in Delhi-NCR, Credifin plans to utilise its network spanning over 200 locations across 13 states to support 1,000 EV entrepreneurs within the next two to three years.
In addition to financial assistance, the company will offer support through OEM partnerships, trade advances for inventory procurement, and end-customer financing solutions.
Loan recipients will benefit from access to Credifin's network of over 100 OEM partners in the E-Rickshaw, L5, and EV two-wheeler segments. The company will provide assistance in dealership establishment, business lead generation, manufacturer partnerships, and vehicle registration processes, all at no additional cost.
Commenting on the development, Shalya Gupta, Chief Executive Officer of Credifin, stated that the EV Start-up Loan has been designed to enable aspiring entrepreneurs to establish businesses more easily.
He noted that the company aims to provide a supportive environment, ensuring that such ventures are sustainable and successful over time. He further highlighted Credifin's extensive EV network, indicating that it is an opportune moment to leverage this infrastructure to assist individuals in building viable businesses.
Credifin, formerly known as PHF Leasing, was incorporated in 1992 and has been registered with the Reserve Bank of India since 1998.
The company's current product portfolio includes secured MSME mortgage loans against immovable property, along with electric vehicle financing. It employs over 700 personnel and reported Assets Under Management (AUM) of Rs. 3.5 billion (US$ 42.1 million) for the financial year 2024-2025.
