Avanse Financial Services to lend to educational institutions
Neeraj Saxena, CEO, Avanse, announced the decision to foray into a related education loan business of funding the expansion of infrastructure facilities among established educational institutions.
Neeraj Saxena, CEO, Avanse, announced the decision to foray into a related education loan business of funding the expansion of infrastructure facilities among established educational institutions. He elaborated that loans would be extended to Universities, Colleges, Coaching classes and B-Schools to augment infrastructure such as buildings, libraries, laboratories etc. Avanse would however, not give loans to those who are yet to start operations, as the required capital outlay would be much higher. The amount of loans would be in the range of Rs 50 lakh to Rs 5 crores.
In keeping with its new-age philosophy, Avanse not only funds under-graduate courses and post-graduate courses like management, engineering, medical, etc but also new-age courses like image consulting, photography, film writing, movie direction etc.
As all courses are not job-oriented in nature, Avanse will rate the colleges before sanctioning the loan. Should a particular course have little or no job potential, Avanse would at its discretion, turn down the loan request. The evaluation criteria would include the college’s placement record for the last three years, average salary commanded, whether there’s any court litigation or blacklisting against the college, among others.
Avanse has tied up with over 700 educational institutions in India and across the globe, as well as educational consultants, to facilitate the disbursement of loans to their students.
Avanse Financial Services Ltd