Vastu Housing Finance stated on Friday that it plans to raise up to $50 million in a 20-year loan from the US International Development Finance Corp.
According to an official release, the two entities inked an arrangement for external commercial borrowing.
Money raised from the route will be used to boost credit access for low-income borrowers, with a focus on addressing housing requirements and boosting women’s house ownership in Tier II to IV towns across India.
The lender focuses on financing affordable housing for low-income and self-employed segments, with a specific focus on supporting women borrowers.
Vastu, which started in 2015, has $1.14 billion in assets under management and employs over 4,500 individuals across 14 states.
