Bike Bazaar Finance disbursed Rs 100-crore worth of loans for the Hero MotoCorp range of motorcycles and scooters in November last year, the company said on Monday.
Hero MotoCorp has an alliance with Bike Bazaar Finance, an arm of Bike Bazaar, to facilitate fast and flexible loans primarily in the rural areas focused on customers who don’t have access to organised retail finance, a release said. “It took us three months to hit our first Rs 1-crore disbursal in 2017 and today we have reached a level of Rs 100 crore disbursal in a month.
This has been a great milestone for us that would not have been possible without the support of Hero MotoCorp team and its network partners,” V Karunakaran, co-founder and joint managing director, Bike Bazaar, said. The company is committed to building upon its unique offering and expanding further to add value to its network and OEM partners, he said. “We are extremely excited about Bike Bazaar’s expansion and achievement of Rs 100 crore-loan disbursal in a month,” said Naveen Chauhan, head of sales and after-sales at Hero MotoCorp.
He said Bike Bazaar Finance has been associated with Hero MotoCorp since 2019, adding immense value to its dealers and customers, especially in the rural market. Their unique offering of direct collection model in rural market has been well accepted by the company’s both customers and channel partners, Chauhan added. Bike Bazaar Finance has marked its footprint at over more than 400 locations across states of Uttar Pradesh, Bihar, Madhya Pradesh, Haryana, Rajasthan, and West Bengal, according to the release.