January 25

Avanti Finance Secures $2 Million From Dell Foundation

Mumbai, Jan 19 (PTI) Avanti Finance, an NBFC founded by Ratan Tata, Vijay Kelkar and Nandan Nilekani, has tied up with the Michael & Susan Dell Foundation to provide affordable loans to the pandemic-hit small businesses.

Under the collaboration, the Dell Foundation will provide low-cost Rs 15 crore debt to Avanti, which the NBFC will use to provide unsecured loans up to Rs 1.5 lakh to low-income borrowers in urban and peri-urban areas, the lender said in a statement on Tuesday.

Avanti expects the collaboration to help it lend to micro-entrepreneurs secure low-cost debt as they strive to rebuild their livelihoods and resume business activity following the outbreak pandemic.

Source: Yahoo Finance (link opens in a new window)

financial inclusion, impact investing