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5 NBFCs helping schools with their infrastructure requirements

By Joy Dumasia

December 03, 2021

  • Credit Management
  • Digital Lending
  • Digital Loans

A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit business but does not include any institution whose principal business is that of agriculture activity, industrial activity, purchase or sale of any goods (other than securities) or providing any services and sale/purchase/construction of the immovable property. A non-banking institution that has the principal business of receiving deposits under any scheme or arrangement in one lump sum or instalments by way of contributions or in any other manner is also a non-banking financial company, according to the Reserve Bank of India.

Non-banking financial companies play a notable role in the economy by carrying out numerous financial activities. They provide insurance, grant loans to MFIs, finance infrastructure, etc. The NBFCs are a heterogeneous group providing several services ranging from microfinance to insurance.

During the pandemic, the schools were shut entirely, and now that schools have opened, it isn’t going to be the same as before. Additionally, since the schools’ infrastructure was not used for almost the entire last academic year, the infrastructure needs an overhaul in the sense of painting/ repairs/ furniture replacement/ etc. To provide up to the mark facility, infrastructure development was required, and funds were minimum. Below are a couple of NBFCs in India that provide loans and financing to schools for infrastructure development.

The following are 5 NBFCs helping schools with their infrastructure requirements:

  • ISFC (Indian School Finance Company): ISFC is an NBFC engaged in lending to educational institutions and entrepreneurs managing such institutions. It exclusively funds education institutions and is widely recognized and appreciated in the education segment for its impact on schools and focuses on improvement in the quality of education. The objective of ISFC is to assist the Schools and other educational institutions in capacity building through infrastructure improvements, thereby enabling students to access quality education.
  • EnableCap: EnableCap is a tech-enabled non-banking financial company (NBFC) that focuses on rapidly growing segments in the country where credit is not available or is provided in an unstructured/ informal manner. A brainchild of Nirpeksh Kumbhat and Vanshay Goenka, the company aims to create value by providing quick and straightforward loans via a fully digital and paperless process. With a mission to increase credit access to the underserved and build trust, transparency and security in credit transactions, the FinTech platform uses cutting-edge technologies to efficiently offer customized loan solutions.
  • Ugro Capital: Ugro’s programs are built to offer faster loan processing systems to assist educational institutions in building better infrastructure and facilities. This includes growth planning and training provided to educators, enabling them, in turn, to impart quality education to students.
  • Auxilo: Enables education progression in the nation with low-interest rate loans to educational institutions for their infrastructure and service development. They fund any institution that provides education from nursery to school, training to graduation and post-graduation, in any/all education streams. Their term loans are competitively priced and flexibly structured, with repayment plans that suit your institution’s needs. They finance a variety of institutional, educational needs such as construction, renovation, upgrading facilities, equipment, machinery, computers, labs, books, tuition and coaching centres, software and hardware, etc.
  • Varthana: Founded in 2013, Varthana financial service is a platform designed to accelerate the growth of private schools in low-income communities. It helps education entrepreneurs who are urged to work hard for developing their schools to provide education to the students of their society. Loans and support are provided to the schools that are often not considered established schools with all the facilities equipped.  

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