MSME lender Ashv Finance partners with HDFC Bank for co-lending MSME loans

Ashv Finance, an MSME-focused NBFC under Aavishkaar Group, partnered with HDFC Bank to offer unsecured business loans to micro and small enterprises. The deal aims to enhance offerings and promote the "Make in India" initiative for MSMEs. Loans range from Rs 20 lakh to Rs 50 lakh, extendable to Rs 75 lakh for repeat customers, with terms of 12 to 36 months. \r

Funds support infrastructure, working capital, technology adoption, and overhead expenses. Eligible MSMEs must be three years old with turnovers between Rs 3 crore and Rs 100 crore, backed by GST & ITR returns. HDFC Bank aims for financial inclusion, empowering individuals and businesses. \r

Ashv Finance recently secured $10 million from Encourage Capital for a rooftop solar financing initiative, managing assets worth Rs 1,000 crore across 15 states.