Andhra Pradesh State Financial Corporation
Andhra Pradesh State Financial Corporation [APSFC] is a term lending Institution established in 1956 for promoting small and medium scale industries in Andhra Pradesh under the provisions of the Sate Financial Corporations Act, 1951.The corporation came into existence on 1-11-1956 by merger of Andhra State Financial Corporation and Hyderabad State Financial Corporation. The corporation has launched many entrepreneur-friendly schemes to provide term loans, working capital term loans, special and seed capital assistance to suit the needs of various categories of entrepreneurs. The Corporation has completed five decades of dedicated service in industrial financing of tiny, small and medium scale sector units and contributing to the balanced regional development of the state.
Milestone achievements of APSFC.
- So far sanctioned 6,098 crores for 86,384 units in Andhra Pradesh as on 31/03/2006.
- Disbursed 4,150 crores to 66,516 units - 70% to Tiny/SSI sector as on 31/03/2006.
- Recovered Rs 4,895 crores including interest since inception till 31/03/2006.
- Established unblemished repayment track record since inception
- Has consistent record of earning operating profit throughout its history
- Created total Investment of around 14,219 crores.
- Generated direct and indirect employment to about 8.57 lakh persons
- Channelled a significant share of assistance of around 70% to tiny and small scale industries
- Industrialised backward areas by extending 50% of its assistance to industries coming up in notified backward areas.
- Enjoying 60% of the market share in term lending business in Andhra Pradesh
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