Mizuho Bank Ltd., the Indian subsidiary of the Japanese Bank, has committed Rs. 100 crore as term loan to a growing micro finance company Satya Micro Capital Limited, an RBI-registered NBFC-MFI. This the first-ever loan by Mizuho Bank for Satya microfinance.
In addition to growing and strengthening its operational model, SATYA will be able to add debt funding to further broaden its product offering, maintain its creative loan options, and offer its valued clients full end-to-end business operations. The funds will also be used to create a new paradigm for women’s empowerment through microfinance and to hasten the financial inclusion of female microentrepreneurs.
“Satya’s mission of advancing financial inclusion and empowering women entrepreneurs throughout India is driven by our partnership with Mizuho Bank,” said Vivek Tiwari, MD & CEO of Satya MicroCapital Limited. Mizuho Bank’s level of confidence in our business plan will direct our expansion goals. Over the world, Satya’s business model is progressively gaining traction. Satya remains unwaveringly committed to improving the future and creating a long-lasting impact on a large number of low-income individuals.
Satya began operations in January 2017 after being founded in October 2016 and having its headquarters located in New Delhi, the nation’s capital. Since its founding, Satya has made significant progress toward its primary objective, which is to empower rural women financially, socially, and digitally.