Microfin Private Limited, a Bangalore-based non-banking financial company (NBFC) that provides financial services to MicroVentures India, has announced the disbursement of a INR 35 million (USD 746,000) loan to Indian microfinance institution (MFI), Suryoday Micro Finance Private Limited.
Microfinance Focus, who reported on the loan, does not list terms of the loan or an original source.
About Suryoday Micro Finance Private Limited:
Suryoday Micro Finance Private Limited is an Indian microfinance institution (MFI) that was founded in 2009. It aims to provide products and services to the economically challenged in India with the hope of generating higher incomes, building an asset base and achieving sustainable standards of living. Suryoday reports total assets of USD 4.57 million, a gross loan portfolio of USD 3.47 million and 24,678 borrowers as of March 2010.
About MV Microfin Private Limited:
MV Microfin Private Limited is a Bangalore based non-banking financial company (NBFC) that was founded in 2009. It provides financial services to MicroVentures India, a private equity firm that invests in microfinance institutions (MFIs) in India. MV Microfin Private Limited does not report to the MIX.
Matthew Fox, Research Assistant
Sources and Additional Resources:
Microfinance Focus: MicroVentures India Lends INR 35m to Suryoday Microfinance, 30 August 2010: http://www.microfinancefocus.com/news/2010/08/30/microventures-india-lends-inr-35m-to-suryoday-microfinance/
MicroCapital Universe: Suryoday Micro Finance Private Limited: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Suryoday+Micro+Finance+Private+Limited
MicroCapital Universe: MV Microfin Private Limited: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=MV+Microfin+Private+Limited
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/tiki-index.php
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