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Business Lending: India, Facebook's Financial Lab

24/08/2021
Categories: Companies

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Facebook continues to expand into financial services to diversify. He launched into business lending, starting with India.

Facebook chose India to launch a small business loan program. These credits will be available to Indian companies through one of Facebook's local partners, the Indifi Group. The loans will range from 500,000 to 5 million rupees, or between 6,720 and 67,200 dollars. The interest rates attached to this financing will range from 17% to 20%. Mark Zuckerberg's group ensures that the objective is above all to develop the ecosystem around the social network. In its formula, the loan program, however, aims to encourage new merchants to use Facebook advertising services. The loans will only be accessible to companies that have already purchased advertising on the social network for a minimum of 180 days.

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