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

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


Asirvad Microfinance, a subsidiary of Manappuram Finance, mentioned on Wednesday it has securitised microfinance loans worth Rs 262 crore in a deal with a public sector bank.

Raja Vaidyanathan, MD of Asirvad Microfinance, mentioned, “This deal, closely on the heels of an ECB transaction with US-based WorldBusiness Capital, reaffirms the confidence leading lending institutions have in India’s microfinance sector and its prospects for growth.”



In May 2021, the firm raised $15-million loan from WorldBusiness Capital, based in Hartford, Connecticut.



Proceeds from the loan availed will allow Asirvad to expand its company of delivering little loans to low-revenue females company owners in rural places to commence and expand their busineses, he added.



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