The United States International Development Finance Corporation (DFC) has loaned USD 40 million (about Rs 330 crore) with UGRO Capital to bridge the credit gap in the MSME sector.
This investment marks an important step in UGRO Capital’s journey to empower small businesses at the grassroots level and deepen financial inclusion across the country, the NBFC focused on MSME lending in a statement on Wednesday.
This financing facility from DFC will mark UGRO’s third deal within the year, he said.
DFC’s support will enable UGRO Capital to strengthen its efforts to lend to small and medium enterprises across India, with a focus on empowering women-owned businesses.
Red Fort Capital gets Rs 22.6 crore debt financing from major PSU banks to expand lending to SMEs *Red Fort Capital, an NBFC, has successfully raised Rs 22.6 crore in debt financing, crossing a significant milestone of Rs 100 crore in goods.
The credit enhancement includes Rs 15 crore from the central bank. Notably, Red Fort Capital has already secured rounds of funding from the State Bank of India, the PSU’s largest lender, the company said in a statement.
The separate funds will be instrumental in accelerating Red Fort Capital’s mission to bridge the credit gap for small and medium enterprises (SMEs) across India, he said.
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