India-Based Asirvad Microfinance Obtains $15 Million Loan from WBC to Support Rural Businesses
June 15, 2021
CHENNAI, INDIA - June 15, 2021 - WorldBusiness Capital, Inc. (WBC) announced the recent closing of a $15 million commercial loan to India’s Asirvad Microfinance Limited. WBC’s loan is guaranteed by United States International Development Finance Corporation (DFC), America’s development bank. DFC partners with the private sector to finance solutions to critical challenges involving energy, healthcare, infrastructure, and technology throughout the developing world. Funding from WBC will enable Asirvad to expand its business of providing small loans that help low-income women entrepreneurs in rural areas start and expand businesses. Asirvad employs a group lending model where low-income women guarantee each other’s loans.
