Aye Finance scoops 30 crore debt funding from BlueOrchard Finance
New Delhi, Apr 14 (KNN) The Micro, Small and Medium Enterprises (MSME) lender Aye Finance in a new engagement has grabbed 30 crore debt funding from Swiss-based BlueOrchard Finance Ltd, the company informed in a release.
With new funds in place, Aye Finance aims to further expand its MSME lending portfolio and offer its services to wider MSME clients.
Commenting over the latest development, Sanjay Sharma, Managing Director and Founder Aye Finance, said that the new fund will help the firm advance in its quest towards enabling the MSMEs opt for organized lending.
The company delivers business loans against mortgage or hypothecation to the MSME sector, at present the finance company operates through its 33 branches spread across the country.
The financial body approves the loan through a technological process that analyses business and behavioural data of the MSMEs
Aye Finance intends to help sustain employment at the bottom of the pyramid by financing MSMEs. As of now the disbursed loans have been able to benefit 100,000 families, the company claims. Also the company aims at impacting 10 million households by 2020. (With Inputs from a media report) (KNN/DA)