{"id":5026,"date":"2017-07-15T11:28:59","date_gmt":"2017-07-15T11:28:59","guid":{"rendered":"https:\/\/sunkrish.com\/?p=5026"},"modified":"2017-07-15T11:29:53","modified_gmt":"2017-07-15T11:29:53","slug":"sme-lending-yes-bank-ties-up-with-us-based-opic-wells-fargo","status":"publish","type":"post","link":"https:\/\/sunkrish.com\/index.php\/2017\/07\/15\/sme-lending-yes-bank-ties-up-with-us-based-opic-wells-fargo\/","title":{"rendered":"SME lending: YES Bank ties up with US-based OPIC, Wells Fargo"},"content":{"rendered":"

\"\"<\/a>YES Bank has teamed up with the Overseas Private Investment Corporation (OPIC) and Wells Fargo on an agreement to lend up to $150 million to small and medium enterprises (SMEs) in India.<\/p>\n

Under the agreement, OPIC will provide $75 million in financing and up to $75 million in syndicated financing jointly with Wells Fargo to YES Bank.<\/p>\n

Specifically, $50 million of the financing will be used to expand support to women-owned businesses, while another $50 million will be used for financing SME businesses in low-income States, YES Bank said in a statement.<\/p>\n

It added that this will ensure access to funding for women-owned businesses and SMEs in India.<\/p>\n

OPIC is the US government\u2019s development finance institution. San Francisco-headquartered Wells Fargo is a diversified, community-based financial services company with $2 trillion in assets.<\/p>\n

Rana Kapoor, Managing Director and CEO, YES Bank, said: \u201cThis facility will support financing to women entrepreneurs in India for driving future economic growth and job creation.\u201d<\/p>\n

Dev Jagadesan, OPIC\u2019s Acting President and CEO, said, \u201cOPIC\u2019s facility will help YES Bank expand its SME lending capacity, specifically enabling them to reach both women and entrepreneurs in low-income States who have much to contribute to India\u2019s economic activity.\u201d<\/p>\n

According to the statement, this is the third transaction between OPIC and YES Bank and comes close on the heels of last year\u2019s $265-million OPIC facility, which the bank will use to extend SME financing in India.<\/p>\n

The private sector bank said it has also partnered with International Finance Corporation and Women Entrepreneurs Opportunity Facility by drawing a $50-million loan in March 2016 for mobilising capital for women entrepreneurs.<\/p>\n

 <\/p>\n

Source: http:\/\/www.thehindubusinessline.com\/money-and-banking\/sme-lending-yes-bank-ties-up-with-usbased-opic-wells-fargo\/article9768685.ece<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

YES Bank has teamed up with the Overseas Private Investment Corporation (OPIC) and Wells Fargo on an agreement to lend up to $150 million to small and medium enterprises (SMEs) in India. Under the agreement, OPIC will provide $75 million … Continued<\/a><\/p>\n","protected":false},"author":1,"featured_media":5028,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15,4,497,493,5],"tags":[310,314,814,494,980,429,979,929],"class_list":["post-5026","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-business-advisory-services","category-financial-corporate-services","category-cross-border-transactions-mas-joint-ventures","category-economy-business-updates-corporate-affairs","category-india-international-corporate-updates","tag-bank","tag-debt","tag-international-finance-corporation","tag-msmes","tag-overseas-private-investment-corporation-opic","tag-sme","tag-wells-fargo","tag-yes-bank"],"_links":{"self":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts\/5026","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/comments?post=5026"}],"version-history":[{"count":3,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts\/5026\/revisions"}],"predecessor-version":[{"id":5030,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/posts\/5026\/revisions\/5030"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/media\/5028"}],"wp:attachment":[{"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/media?parent=5026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/categories?post=5026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sunkrish.com\/index.php\/wp-json\/wp\/v2\/tags?post=5026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}