Hivos-Triodos Fund (HTF) Loans $3.1m to India’s IntelleGrow for Loans to Small, Medium-Sized Enterprises
Friday, November 7, 2014
The Hivos-Triodos Fund (HTF), a Netherlands-based microfinance investment vehicle, recently loaned EUR 2.5 million (USD 3.1 million) to IntelleGrow, an Indian nonbank financial company that specializes in making loans to small and medium-sized “social enterprises” in the agriculture, clean energy, education, financial, healthcare, sanitation and water sectors. Historically IntelleGrow has provided financing within 40 to 50 days of application from businesses that do not have access to traditional, collateral-based loans.
According to Willem Enklaar, the fund manager for HTF, “IntelleGrow fits perfectly as an extension to Hivos-Triodos Fund’s goal to catalyze growth in selected high impact sectors, specifically in agriculture and renewable energy. We look forward to enable further growth of IntelleGrow with our loan, which makes us IntelleGrow’s first international lender.”