Facebook Small Business Loan Initiative Scheme, loan up to Rs 50 lakh from Facebook without any guarantee

Facebook has announced a big scheme for small businessmen in India. Now you can take a loan up to Rs 50 lakh from Facebook without any guarantee.

Facebook has announced the ‘Small Business Loan Initiative’ scheme for India. Facebook has partnered with the financial company Indifi for this scheme, that is, the loan for the scheme will be made available by this company.

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The purpose of this scheme is to get the small businessmen (MSMEs) to meet the capital requirement without pledging anything. He told that under this scheme, small entrepreneurs who advertise on Facebook’s platform will be able to take a loan ranging from five lakh to 50 lakh rupees. They will have to pay interest at the rate of 17 to 20 percent on this loan. Women traders will also get a 0.2 percent discount in the interest rate. IndiFi will also not charge any processing fee on the loan application from the applicants. Businessmen will not have to give any collateral for this loan.