Moneyboxx Finance has successfully raised a term loan of Rs 34 crore from the State Bank of India.
Announcing the development, Deepak Aggarwal, Co-Founder, Moneyboxx Finance Ltd, said, “We are encouraged to receive strong support from India’s largest lender, which underscores confidence in our business model and growth trajectory. This additional debt capital will help us further extend our reach in semi-urban and rural areas, empowering micro-entrepreneurs with essential financial resources and contributing to their economic advancement.”
Backed by 32 lenders, including prominent institutions such as State Bank of India, HDFC Bank, and Kotak Mahindra Bank, Moneyboxx has raised over Rs 1,200 crore in debt funding to date.
Moneyboxx Finance operates across 163 branches in 12 states, including Rajasthan, Madhya Pradesh, Haryana, Punjab, Uttar Pradesh, Chhattisgarh, Bihar, Gujarat, Andhra Pradesh, Karnataka, Tamil Nadu, and Telangana.
The company caters to underserved small and micro-entrepreneurs across essential sectors such as livestock, kirana stores, retail traders, and micro-manufacturers by offering secured and unsecured business loans ranging from Rs 1 lakh to Rs 25 lakh.
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