Welcome to manappuram.com! In order to provide a more relevant experience for you, we use cookies to enable some website functionality. Cookies help us see which articles most interest you; allow you to permit us to deliver content tailored to your interests and locations; and provide many other site benefits. For more information, please review ourPrivacy Policy


Manappuram Finance subsidiary raises $15 million loan from worldbusiness capital

Monday, May 24, 2021



Asirvad Microfinance Ltd, a subsidiary of Manappuram Finance, on Monday said it has raised $15 million loan from WorldBusiness Capital.

The commercial loan from WorldBusiness Capital, Inc., based in Hartford, Connecticut, has a tenure of seven years.WBC’s loan is supported by the US International Development Finance Corporation (DFC).

“This transaction with an international institution coming at this challenging juncture certainly gives a boost to the microfinance sector and reiterates the resilience Asirvad has always shown, and the speed at which it bounces back.", said Raja Vaidyanathan, managing director, Asirvad Microfinance.

DFC partners with private sector entities to finance solutions for critical challenges facing the developing world.

Proceeds from the loan availed under India’s ECB norms will enable Asirvad to expand its business of providing small loans to low-income women business owners in rural areas to start and expand their income-generating business.

Read more