Moneyboxx Finance has secured Rs 50 crore term loan from SBI for a period of 4 years. The company will utilize the funds for onward lending to the micro-entrepreneurs in the agricultural and allied sectors. This loan from SBI, along with continuous infusion of debt from existing 21 lenders, will ensure adequate liquidity in alignment with the company’s plans to ramp-up the AUM from over Rs 190 crore as of October 2022 to Rs 400 crore by Mar 2023.
Moneyboxx Finance is a Non Deposit taking Non-systemically Important Non Banking Finance Company (NBFC-ND-NSI) engaged primarily in the business of advancing loans and investing/trading in securities.
