Facebook will Lend up to 50 Lakh Taka to Indian Businessman

Business Habit ⋅ @businesshabit ⋅ Aug 25, 2021

Facebook has taken initiative to give loans to small traders. This is the first time in India that such a social media giant has taken such an initiative. Businesses and companies that regularly advertise on Facebook will be given loans.

According to Facebook, loans ranging from Tk 5 lakh to Tk 50 lakh will be given. For this, you have to pay interest at the rate of 17-20 percent. However, this large amount of loan will be matched without any collateral.

Last week, Amazon made its first investment in India's wealth management sector. WhatsApp, another Facebook company, has already launched a digital payment service in the country.

Ajit Mohan, an Indian official at Facebook, claims that we are on the brink of a digital transformation. Facebook believes that lending to small businesses will enable their businesses to see rapid success.

Facebook has already started registering for the program in 200 cities across India.

Category and Tags

Technology Facebook Lend Money, Facebook, Indian Businessman

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