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In India, Facebook is launching small loans to businesses

In India, Facebook is launching small loans to businesses

The US giant will grant loans to SMEs and VSE companies if they publicize their applications.

Facebook continues to diversify in India. After imposing WhatsApp as the first instant messaging service (530 million Indian users, Facebook social networking site with 410 million), after concluding an agreement with the Reliance Group to develop online commerce in 2020, the group embarks on microfinance. He formalized a partnership, on August 20, with Indian microcredit company Indifi to develop loans for VSE companies and SMEs. Indifi, based in Gurgaon, a suburb of New Delhi, claims to have provided around 35,000 loans in 12 industries since its inception six years ago.

The two companies agreed to provide loans of between 500,000 and 5 million rupees (between 5,900 and 59,000 euros) at an interest rate of 17-20% per annum. While these rates may seem high, they are in line with what microcredit players in India have to offer. In addition, borrowers will not have to provide collateral and will receive

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