Hero FinCorp (an associate company of Hero MotoCorp), is an Indian Non-Banking Financial Company (NBFC). The company is currently engaged in consumer finance businesses and commercial lending. Consumer Finance includes financing Hero MotoCorp Two Wheelers and providing Loans against property. On the commercial lending side it provides Indian corporates a wide portfolio of financing products which include working capital loans, machine loans amongst others.ö
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The company was launched in 1991 as Hero Honda Finlease Ltd by extending working capital loans and medium-term finance to component suppliers and dealers of parent firm Hero MotoCorp, then called Hero Honda Motors Ltd.
In 2011, as Hero Honda Motors was restructured, the company was renamed Hero FinCorp and acquired its present form. By April 2013, the company began giving two-wheelers loans to customers. In 2014, it ventured into loans against property, loans for small and medium enterprises and commercial loans.
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Products / Services
Two Wheeler Loans
Hero FinCorp provides financing for purchase of Hero MotoCorp two wheelers. The firm claims to have over 350,000 active two-wheeler customer loans in June 2015. It plans to be present in over 730 Hero MotoCorp dealerships by end of March 2016.
Used Car Finance
The company has recently started financing of used cars for both salaried and self-employed individuals. The company offers customizable tenures and payment options. .......................
Loan Against Property
The company provides loans against property to corporates, partnership firms and self-employed individuals for up to 15 years with customizable interest rates.
SME & Commercial Loans
- Bill Discounting
- Working Capital Term Loan
- Working Capital Demand Loan
- Term Loan
- Project Finance
- Acquisition Financing
- Machine Term Loan
- Medical Equipment Financing
- E-commerce Dealer Financing
- Hero MotoCorp Dealer Financing
Company Performance
Hero FinCorp recorded a turnover of Rs.298.62 crore in 2014-15.
The company has been rated as AA+ / stable by rating agencies such as CRISIL and ICRA.
Growth Plans
Hero FinCorp has achieved Rs.6,400 crore loan book by March 16.
Source of the article : Wikipedia
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