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Auxilo Finserve: In the next 5 years (by 2028), Auxilo Finserve aims to provide loan funds to 10,000 schools and educational institutions across the country. In this regard, the plans were announced on December 20. It said that the educational institutions will be provided with financial assistance to meet their needs related to capacity building, purchase of land for expansion of premises, modernization of teaching facilities and repayment of high cost debts.
On this occasion Neeraj Saxena, Managing Director and CEO of Axilo FinServ said that his organization has started providing funds to educational institutions since March 2018. However, the impact of the pandemic in the coming years has slowed down their plans. Now that the conditions have returned to normal, they are now aggressively moving forward with this department.
Saxena said their plan is to meet the loan needs of educational institutions across India. They have received encouraging responses. We hope to be a part of their overall development along with partnering with schools and other educational institutions. After expanding their operations in southern, central and western states in this financial year, they have announced that they will enter eastern and northern states in the next financial year.
It is already operating in southern states like Andhra Pradesh, Telangana, Karnataka and Tamil Nadu. Services will be extended to nine more states. In July this year, the company raised Rs. 470 crores collected. The company has assets under management of Rs 2,500 crore for the financial year 2020-23. These have grown at a CAGR of 52.7 percent.
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