 "State bank of india, SBI")
Moneyboxx Finance Limited, which provides small-ticket business loans to micro entrepreneurs, on Wednesday said it has secured Rs 50 crore term loan from SBI for expanding its operations. The NBFC (non-banking financial company) will utilise the funds for onward lending to the micro-entrepreneurs in the agricultural and allied sectors.
"This loan from SBI, along with continuous infusion of debt from existing 21 lenders, will ensure adequate liquidity in alignment with the company's plans to ramp-up the AUM from over Rs 190 crore as of October 2022 to Rs 400 crore by March 2023," it said in a release.
Deepak Aggarwal,
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