Categories: Business

Facebook launches “Small Business Loans Initiative” in India

Facebook India has launched the “Small Business Loans Initiative” in India in partnership with the online lending platform Indifi. India is the first country where Facebook is rolling out this programme. The objective of this initiative is to help small and medium businesses (SMBs) that advertise on Facebook to get quick access to credit/loans through independent lending partners. This will make business loans more easily accessible to small businesses, and reduce the credit gap within India’s MSME sector. It is open to businesses registered across 200 towns and cities of India.

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About the Indifi:

  • Indifi is the first lending partner that Facebook has tied up with and the programme is built with the potential to bring more partners on board.
  • Through Facebook’s partnership with Indifi, small businesses that advertise with Facebook can get loans at a predefined interest rate of 17-20 per cent per annum.
  • The programme will also enable small businesses to apply for loans without collateral through a quick online application.

Important takeaways for all competitive exams:

  • Facebook Founded: February 2004;
  • Facebook CEO: Mark Zuckerberg;
  • Facebook Headquarters: California, United States.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.

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