Enbee Trade & Finance is a Mumbai-based moneylender that does not take deposits - it lends its own capital and what it borrows from its promoters, mostly to small businesses and individuals in western India. The company was founded in 1985, but its story really begins in 2015, when current chairman Amarr Narendra Galla took control and rebuilt it around a single idea: make unsecured term loans to clients you know, and keep them coming back. That idea - relationship lending, conservative credit, and a loan book funded largely by the promoter group - is the recurring approach that explains everything else the company does. # Business segments A single lending engine, funded by promoter borrowings and a recent rights issue, serving repeat borrowers in Maharashtra and Gujarat with unsecured term loans. ## 1. Unsecured term lending: the company's only business **The company makes fixed-rate, unsecured loans to individuals and small businesses, earns interest on them, and relies on repeat borrowers for more than two-thirds of its revenue - it is a relationship-based credit shop, not a transaction factory.** - **Loans without collateral** - every loan the company makes is unsecured, meaning it lends against a borrower's promise to repay rather than against property or assets, which makes borrower selection and ongoing relationships the entire risk-management strategy. - **Repeat borrowers are the backbone** - over 70% of revenue in the most recent year came from clients who had borrowed before, so the company's credit judgment rests on knowing its customers over multiple loan cycles rather than on one-off underwriting. - **Concentrated in a few names and places** - in any given year, three or four customers can each account for more than a tenth of total revenue, and the company's primary hunting ground is the western Indian states of Maharashtra and Gujarat, so its fortunes are tied to a narrow geography and a handful of relationships. - **Credit losses tracked through a three-stage early-warning system** - the company uses an Expected Credit Loss model that sorts every loan into one of three buckets based on how many days the borrower