DFC of US comits $40 million loans to UGRO Capital for MSME funding

United States International Development Finance Corporation (DFC) has committed USD 40 million (approx Rs 330 crore) loan with UGRO Capital to bridge the credit gap in the MSME sector.

This investment marks a critical step in UGRO Capital's journey to empower small businesses at the grassroots level and deepen financial inclusion across the country, the NBFC focused on MSME lending said in a statement on Wednesday.

This financing facility from DFC will mark the third impact deal for UGRO within a year, it said.

DFC's support will enable UGRO Capital to bolster its lending efforts to small and mediumsized businesses across India, with a focus on empowering women-owned enterprises.

Red Fort Capital secures Rs 22.6 cr debt funding from major PSU banks to expand SME lending *Red Fort Capital, an NBFC, has successfully raised Rs 22.6 crore in debt funding, crossing the significant milestone of Rs 100 crore in assets.

The debt raise includes Rs 15 crore from a large bank. Notably, Red Fort Capital has already secured prior financing rounds from the State Bank of India, the largest PSU lender, the company said statement.

This diverse capital will be instrumental in accelerating Red Fort Capital's mission to bridge the credit gap for small and medium enterprises (SMEs) across India, it said.