{"id":2111,"date":"2021-08-20T14:40:20","date_gmt":"2021-08-20T14:40:20","guid":{"rendered":"https:\/\/news25.org\/?p=2111"},"modified":"2021-08-20T14:43:09","modified_gmt":"2021-08-20T14:43:09","slug":"facebook-teams-up-with-indian-firm-to-help-provide-loans-to-small-businesses","status":"publish","type":"post","link":"https:\/\/www.news25.org\/facebook-teams-up-with-indian-firm-to-help-provide-loans-to-small-businesses\/","title":{"rendered":"Facebook teams up with Indian firm to help provide loans to small businesses"},"content":{"rendered":"

Facebook\u00a0(FB.O)\u00a0is partnering with an Indian online lending firm to help provide loans to small domestic businesses, its country head said on Friday, as part of a push to bring more businesses to advertise on its platform.<\/strong><\/p>\n

The social media giant is joining hands with Indifi to help provide loans ranging from 500,000 rupees to 5,000,000 rupees ($6,719-$67,191) at annual interest rates of up to 20%, Ajit Mohan, Facebook India’s managing director, told a virtual news conference.<\/p>\n

Facebook said it would pay off to bolster the small business economy in India as these companies will use its apps including Instagram and WhatsApp to boost their growth.<\/p>\n

“We’re not looking to make money from this programme, we don’t have any revenue share… but we are hoping this creates growth in the industry that will eventually benefit us,” said Mohan, adding that Facebook had no monetary contribution towards the programme.<\/p>\n