Usha Financial
Usha Financial Services Limited is an RBI-registered NBFC-ICC providing small-ticket secured and unsecured loans (Rs 10K–10L) to underserved MSMEs, women entrepreneurs, agricultural borrowers, and EV dealers in India, with a focus on tier-2 and tier-3 cities.
- Company typePublic
- Founded1995
- HeadquartersDelhi, India
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Usha Financial does
Usha Financial Services Limited (NSE: USHAFIN) is an RBI-registered NBFC-ICC (Investment & Credit Company), base-layer, non-systemically important and non-deposit taking, operating in India under license B-14.02818 since its incorporation in Delhi in 1995. The company provides secured and unsecured credit products — Entrepreneur Loans (Rs 10,000 to Rs 3 lakh, 6–24 month tenures), MSME Loans (Rs 3 lakh to Rs 10 lakh, 12–36 month tenures, secured against real property mortgage), and Green Financing for e-rickshaw/EV dealers — primarily to underserved MSMEs, women entrepreneurs, agricultural borrowers, and EV operators, with an explicit focus on tier-2 and tier-3 cities. Its technology stack is a digital lending platform anchored on a proprietary web-based loan application portal (usha-6fa6f.web.app) integrated with credit bureaus (CIBIL, Equifax, Experian, CRIF) and partner digital lending applications (LoanFront, FatakPay) for origination, KYC, and servicing.
The business model is built on interest income and loan processing fees on a small-ticket, high-volume loan book, supplemented by co-lending and partnership arrangements with fellow NBFCs, NBFC-MFIs, HFCs, and MFIs. Distribution combines a direct corporate sales team, the self-serve web portal, and channel partnerships via LoanFront and FatakPay, while ISO 9001:2015 certification and RBI/SEBI compliance support institutional credibility. Reported standalone financials for Q3 FY2025-26 (quarter ended December 2025) show sales of Rs 19.18 crore (+16.67% YoY) and net profit of Rs 6.59 crore (+44.84% YoY) at an 81.65% operating margin, with AUM having grown from Rs 151.63 crores to Rs 225 crores by H1 FY2022-23 following a $10 million capital raise, and management targeting Rs 350 crores AUM through geographic and product expansion.
Usha Financial firmographics
Firmographics- Name
- Usha Financial
- Legal name
- Usha Financial Services Limited
- Website
- https://ushafinancial.com
- Company type
- Public
- Founded year
- 1995
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Usha Financial Services Limited is an RBI-registered NBFC-ICC providing small-ticket secured and unsecured loans (Rs 10K–10L) to underserved MSMEs, women entrepreneurs, agricultural borrowers, and EV dealers in India, with a focus on tier-2 and tier-3 cities.
- Ownership category
- akta.pro rank
Usha Financial industry classification
Industry- Product category
- Non-Banking Financial Services (MSME Lending)
- NAICS
- Mortgage and Nonmortgage Loan Brokers (52231)
- SIC
- Short-Term Business Credit Institutions (6153)
- akta.pro primary industry
- SME Term Loans & Growth Capital (FSAKAGAB)
- akta.pro secondary industry
- Equipment & Asset Finance (SME) (FSAKAGAF)
Keywords
Where Usha Financial is headquartered
LocationHeadquarters
- HQ city
- Delhi
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
Usha Financial business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Interest Income from Lending: Primary revenue stream from interest charged on loans disbursed to MSMEs, entrepreneurs, women-owned businesses, and EV financing. The company operates as an NBFC-ICC providing secured and unsecured loans.
- Loan Processing Fees: Fees collected during loan origination and processing. The company clearly states it does not charge advance fees but may collect processing fees as part of the loan agreement.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Monthly | MSME Loans ranging from Rs 3 lac to 10 lac with 12-36 month repayment tenure |
| Unit Pricing | Monthly | Entrepreneur Loans ranging from Rs 10,000 to 3 lac with 6-24 month repayment tenure |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels5 records
Usha Financial product offering
Product offeringCore offering
Usha Financial Services Limited is an RBI-registered NBFC-ICC (Investment & Credit Company) providing a diversified portfolio of lending solutions. The company offers Entrepreneur Loans (Rs 10,000 to Rs 3 lakhs), MSME Loans (Rs 3-10 lakhs secured against property), and Green Financing for e-rickshaw/EV dealers, alongside co-lending partnership programs with other NBFCs and digital lending platforms. It targets MSMEs, women entrepreneurs, agriculture borrowers, and the electric vehicle sector across India with a focus on tier-2 and tier-3 cities.
Product overview
Usha Financial Services Limited operates as an RBI-registered NBFC-ICC (Investment & Credit) providing a diversified portfolio of lending solutions. The company offers a unified suite of financial products consisting of: Entrepreneur Loans (Rs 10,000 to Rs 3 lakhs for small businesses), MSME Loans (Rs 3-10 lakhs secured against property), Green Financing (e-rickshaw financing for electric mobility), and partnership programs with other NBFCs and digital lending platforms. The company focuses on serving MSMEs, women entrepreneurs, and the electric vehicle sector, with expansion plans into tier-2 and tier-3 cities.
Differentiator
Problem solved
Functional benefit
Products and services
- Entrepreneur Loan Small business loans ranging from Rs 10,000 to Rs 3 lakhs with repayment tenures from 6 to 24 months, designed for small and medium enterprises seeking quick and hassle-free financing for business expansion and purchases.
- MSME Loan Loans for Micro, Small and Medium Enterprises ranging from Rs 3 lakhs to Rs 10 lakhs with repayment tenures from 12 to 36 months, secured against mortgage over marketable real property, with simplified documentation and quick approval.
- Green Financing Specialized financing for electric rickshaws (e-rickshaws) targeting authorized dealers nationwide, providing tailored financial solutions for acquiring, maintaining, and expanding e-rickshaw fleets with flexible payment options.
- Partnership with NBFC, NBFC-MFI, HFCs & NBFCs Strategic partnership program supporting other NBFCs, NBFC-MFIs, HFCs and MFIs to reach underserved segments, facilitating co-lending and economic growth through financial alliances.
- Business Partners (Digital Lending) Digital lending partner program operating through LoanFront and FatakPay platforms; authorized lending partners help with marketing, customer sourcing, KYC, document collection, background checking, and loan recovery.
Quantifiable outcome
- AUM growth from Rs 151.63 crores to Rs 225 crores in H1 FY 2022-23 (48.4% growth)
- +4 more outcomes
Companies that use Usha Financial
Customer profileNamed customers7 records
Segments5 records
Ideal customer profiles5 records
Usha Financial technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Usha Financial partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- LoanFront (Vaibhav Vyapaar Private Limited)coreDigital lending application partnership with LoanFront operated by Vaibhav Vyapaar Private Limited (VVPL). The LSP provides digital lending infrastructure with Grievance Redressal Officer Satya Mallidi. Authorized activities include customer sourcing, KYC, document collection, background checking, fraud assessment, recovery, and customer support. Products include various loan offerings accessible via website and Google Playstore.
- FatakPay (FatakPay Digital Private Limited)coreDigital lending application partnership with FatakPay operated by FatakPay Digital Private Limited. The LSP provides digital lending infrastructure with Grievance Redressal Officer Ms. Adv. Varsha Manoharan. Available on Google Playstore and App Store. Supports various loan products with grievance redressal mechanisms.
- NBFCs, NBFC-MFIs, HFCs & MFIscoreStrategic partnerships with fellow NBFCs, NBFC-MFIs, HFCs and MFIs to reach underserved segments and propel economic growth. The company believes these entities are facilitators for national growth, job creation, and wealth creation. UFSL supports these entities with impeccable governance for smooth functioning.
Scale indicators7 records
Recent moves8 records
Expansion highlights6 records
Usha Financial competitors and assessment
Company assessmentDirect peers
- SBFC Finance: Indian NBFC specializing in secured MSME loans (LAP), unsecured SME loans, and home loans. Direct product overlap with Usha's MSME secured-loan book.
- CreditAccess Grameen: Large Indian NBFC-MFI focused on rural women borrowers and micro-enterprises. Comparable target customer and small-ticket loan profile, though at meaningfully larger scale than Usha.
- Fusion Microfinance: Indian NBFC-MFI focused on micro-enterprise and MSME lending to women borrowers in rural and semi-urban India. Comparable to Usha's entrepreneur loan product targeting women-owned micro-businesses.
- IIFL Samasta Finance: Indian microfinance NBFC providing small-ticket loans to women borrowers and micro-entrepreneurs. Comparable to Usha's women entrepreneur and MSME lending focus.
- Five-Star Business Finance: Indian NBFC providing secured small-ticket business loans to MSMEs and self-employed borrowers, often against property. Closely aligned with Usha's MSME loan product (Rs 3-10 lakh, secured against real property).
- MAS Financial Services: Listed Indian NBFC providing SME/MSME loans, two-wheeler financing, and micro-enterprise loans. Directly comparable to Usha in segment focus (MSME/entrepreneur) and ticket-size range.
- Asirvad Micro Finance: Indian NBFC-MFI (subsidiary of Manappuram Finance) providing micro-enterprise and group loans to women borrowers. Comparable target segment and ticket sizes to Usha's entrepreneur loan book.
- Spandana Sphoorty Financial: Listed Indian NBFC-MFI providing microfinance and small-ticket loans to women borrowers and underserved segments, comparable to Usha's MSME and women entrepreneur focus. Both operate in the bottom-of-pyramid credit space across tier-2/3 India.
Broad incumbents
- Cholamandalam Investment and Finance: Large Indian NBFC with diversified SME, vehicle, and home-equity lending. Competes with Usha in MSME and small-business segments but at much larger scale and broader product portfolio.
- Bajaj Finance: India's largest diversified NBFC, with broad MSME, consumer, and SME lending across the country. Operates in the same overall space as Usha but at vastly greater scale, broader product mix, and lower funding cost.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Usha Financial social profiles
Digital presenceUsha Financial compliance and trust
Trust signalCompliance1 record
Usha Financial financial estimates
Financial estimateRevenue estimate
Valuation estimate
Usha Financial leadership team
Management profileNumber of profiles
Profiles13 records
Usha Financial funding detail
Funding detailFunding overview
Funding rounds2 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Usha Financial M&A and investment
M&A and investmentM&A
Investments3 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Usha Financial
What does Usha Financial do?
Usha Financial Services Limited is an RBI-registered NBFC-ICC (Investment & Credit Company) providing a diversified portfolio of lending solutions. The company offers Entrepreneur Loans (Rs 10,000 to Rs 3 lakhs), MSME Loans (Rs 3-10 lakhs secured against property), and Green Financing for e-rickshaw/EV dealers, alongside co-lending partnership programs with other NBFCs and digital lending platforms. It targets MSMEs, women entrepreneurs, agriculture borrowers, and the electric vehicle sector across India with a focus on tier-2 and tier-3 cities.
Is Usha Financial a public or private company?
Usha Financial is a public company. It is classified as public and is currently operating.
When was Usha Financial founded?
Usha Financial was founded in 1995. It employs 51 to 100 people.
Where is Usha Financial based?
Usha Financial is headquartered in Delhi, India, in the Asia region.
How does Usha Financial make money?
Two revenue lines are on record. Interest Income from Lending is the primary driver. The others are loan Processing Fees.
Who are Usha Financial's main competitors?
Direct peers on record are SBFC Finance, CreditAccess Grameen, Fusion Microfinance, IIFL Samasta Finance, Five-Star Business Finance, MAS Financial Services, Asirvad Micro Finance and Spandana Sphoorty Financial. Broad incumbents are Cholamandalam Investment and Finance and Bajaj Finance.
Does Usha Financial have an API?
No public API is recorded for Usha Financial.
What industry is Usha Financial in?
Usha Financial's product category is Non-Banking Financial Services (MSME Lending). Its primary akta.pro industry code is FSAKAGAB, SME Term Loans & Growth Capital, with a secondary code of FSAKAGAF, Equipment & Asset Finance (SME). Its NAICS code is 52231 and its SIC code is 6153.