New Delhi: Fullerton India Credit Company, the fastest growing Non Banking Finance Company (NBFC) in India has big plans for the retail loan market in India. The company began its operations in India just two years ago and is all set for a major expansion. It all started in January 2006, with a network of branches across the country to source and service customers with various financial products.

The company is expecting to add 500 more branches to its existing network, thus doubling the total strength to a whopping 1000 branches. Fullerton India Credit Company is also targeting to expand its loan business to Rs. 5,000 crore within the next year. Tapping the rural market, which is presently dominated by moneylenders is a unique proposition of the company's business model.

Self-employed and salaried people form the main target group of Fullerton. The company presently has a customer acquisition rate of 20,000 and with these expansion plans it will add over a million more customers by next year.

The average loan size of the company range from Rs. 1 lakh to Rs. 5 lakh and it has a NPA of 1.5 percent, which is lower than the industry average of 3 to 4 percent.

Fullerton India Credit Company has two main loan options, the Fullerton India Parivaar and the Fullerton India Vyapaar. The Parivaar segment is dedicated to address the unique requirements of the Salaried Individuals. The Vyapaar segment is dedicated to meet the unique requirements of Small sized Shop-owners & Entrepreneurs. A national network of Parivaar and Vyapaar branches, cater to these segments respectively .

Fullerton has a lending process with the following features:

• Simplicity, with an easy to understand, simple process and standard documentation.
• Speed, where the average turnaround time in loan processing is two days
• Neighborhood financing, with the branches located in the centre of business hubs convenient from an access and timing perspective
• One stop shop catering to all business and personal financial needs