Through the partnership, small businesses that advertise with Facebook can get loans at a predefined interest rate of 17-20% per annum, it said. The programme will also enable small businesses to apply for loans without collateral through a quick online application. Small businesses applying under this programme will not be charged a processing fee by Indifi.
Indifi will also disburse the loan amount within five working days of the borrower completing all documentation formalities after acceptance of the offer by Indifi. Small businesses wholly or partly women-owned can get a special 0.2% reduction per annum on the applied loan interest rate from Indifi.
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