Asirvad Microfinance securitises Rs 262-crore loan in deal with PSB

In May 2021, the institution raised $15-million indebtedness from WorldBusiness Capital, based successful Hartford, Connecticut.

Asirvad Microfinance, a subsidiary of Manappuram Finance, said connected Wednesday it has securitised microfinance loans worthy Rs 262 crore successful a woody with a nationalist assemblage bank.

Raja Vaidyanathan, MD of Asirvad Microfinance, said, “This deal, intimately connected the heels of an ECB transaction with US-based WorldBusiness Capital, reaffirms the assurance starring lending institutions person successful India’s microfinance assemblage and its prospects for growth.”

In May 2021, the institution raised $15-million indebtedness from WorldBusiness Capital, based successful Hartford, Connecticut.

Proceeds from the indebtedness availed volition alteration Asirvad to grow its concern of providing tiny loans to low-income women concern owners successful agrarian areas to commencement and grow their busineses, helium added.