To provide seamless capital to the borrowers at the bottom of the pyramid, Sindhuja Microcredit wanted to enhance its in-hand fund for onward lending and create multiple sources of funds for future loans.
- Primarily, they were looking for a term loan of INR 10 Cr at an optimum interest rate (at par or less than their current cost of borrowing, despite the current rate hike environment) for onward lending.
- In the long run, they wanted to expand their lender base and have multiple funding sources to extend onward loans better.
- They also wanted to broaden their lender base by adding reputed names so they don’t have to rely on a single or limited source of funds for all capital needs.