Prest Loans has elevated Tarun Kacholia from Vice President – Business Development to the role of Chief Business Office (CBO) of the company with immediate effect. With over 15 years of experience in financial services industry, Kacholia has deep understanding of small ticket secured business loans and home loans, a company statement has notified.
Kacholia has played a vital role in the growth of the company which is using its technology and distribution network in a unique way to become “Lending as a Service (LaaS)”, according to the statement.
“I am thankful to the management for giving me this opportunity to handle a larger role and contribute not only to the growth of Company but also serve the MSME segment which needs funding for growth of their business” said Kacholia in the statement.
Prest Loan’s yearly loan disbursal has grown by more than five times in FY 23 in comparison to FY 22. The AUM of the company has grown from Rs 35 criore in March 2022 to Rs 109 crore in March 2023 most of which is MSME focussed secured business loans spread across above states, the statement added.
“Tarun is not just a designated CBO, but also a significate stakeholder in the company now, and he is deeply involved in the affairs of Prest Loans. We are delighted to elevate him considering future potential of business,” said Ashok Mittal – Founder and CEO of the company, in the statement.
PrestLoans is an RBI-registered new-age tech-driven NBFC company for all kinds of business loans to micro entrepreneurs, the statement concluded.