Credit Fair Joins Hands with Amplus to Finance Rooftop Solutions

Credit Fair, a consumer lending fintech startup, has joined forces with Amplus Solar, a clean energy solutions provider. This collaboration offers collateral-free affordable financing to individuals, housing societies and trust associations looking to set up solar rooftops.

The maximum loan an individual and MSME can avail of is up to Rs 200 lakh. Credit Fair will also provide easy EMI options for up to 7 years, and the customer can pre-close the loan any time without any extra charges. Loan application, submission and disbursement will be entirely digital.

Commenting on the association, Vikas Agarwal, co-founder & chief business officer CBO of Credit Fair says, “The objective of this venture with Amplus Solar is to make solar energy solutions accessible and affordable to the maximum number of people; in a quick, easy and hassle-free way. Finance shouldn’t be a constraint for those wishing to switch to clean energy sources. Credit Fair wants to change the solar power sector by providing quick and digitised loans for small and medium customers.”

Gaurav Keswani, Vice President (VP), of HomeScape by Amplus Solar said, “The residential rooftop sector is a vast trove of potential in India’s net zero ambitions. While there is no dearth of demand, economic viability for the customers, especially for premium products like what we offer at HomeScape by Amplus Solar becomes a challenge. We look forward to our association with Credit Fair, which addresses this concern and creates financial value for prospects who wish to transition to clean energy.”

Credit Fair plans to boost the share of green financing in its loan book to 40 per cent. The company aims to grow its total assets under management (AUM) to Rs.1000 crore by FY25 and scale up the share of the green financing loan portfolio to Rs.400 crore.

The move is a positive step for the target segment it has in mind, as financing is frequently the final stumbling block for many in the category, be it housing societies or trust orgs. The advantage with solar is that once the monthly solar savings kick in, the emi payment also becomes a lot easier.