HDFC Bank, Mastercard, USAID commit $100-mn credit facility for small biz

The new credit facility aims to expand lending to small businesses in India that need financing to maintain and grow their operations, says HDFC Bank

The new credit facility aims to expand lending to small businesses that need financing to maintain and grow their operations, and enable recovery through digitisation, with an emphasis on supporting women-led businesses, said a statement from HDFC Bank.

The partnership is designed in such a way that HDFC Bank will look beyond its existing customer base and provide at least 50 per cent of the credit facility available to new small business borrowers. Also, the goal is that at least 50 per cent of the facility will be used to lend to women entrepreneurs. The bank is looking to achieve this