Moneyboxx Finance launches agroforestry drive as part of its beyond lending initiative

Moneyboxx Finance Limited – a BSE-listed NBFC that provides small-ticket business loans to micro and small enterprises in Tier-III cities and below, today announced its commitment to support its Agri-preneurs borrowers in planting fruit bearing trees which can substantially elevate their income.

As a part of this initiative, Moneyboxx and its partners planted 1,600 trees across Hisar, Kaithal and Naraingarh region in Haryana, in association with its execution partner Green Ananda.

The company believes that this initiative has high potential to bring significant change in their borrowers’ income and will have a positive ecological impact in terms of improvement in soil and air quality, water augmentation, food security and sustainability.

Until now, Moneyboxx has transformed the lives of more than 35,000 borrowers with cumulative disbursements of over INR 270 crores up to Aug ’22.

“Moneyboxx is committed to make beyond lending initiatives as core to its business operations. India has the highest cattle population in the world; about 2/3 of the rural population depends on the dairy industry. To help our dairy farmer borrowers, we hire qualified vets in our branches as impact officers who advise borrowers on improving milk yield, feedstock selection, cattle health, reproduction through AI, and creating awareness about government schemes on cattle insurance, etc. To further support our livestock borrowers who also have farmlands, we are blessed to contribute and actively work towards the cause by planting fruit bearing trees as part of agroforestry initiative. We are committed to bring improvements in the overall environment through multiple such initiatives in the near future.”

Mr. Deepak Aggarwal, Co-founder Moneyboxx Finance Ltd said,

Moneyboxx has a total of 43 branch networks in five states – Rajasthan, Punjab, Haryana, Madhya Pradesh, and Uttar Pradesh.

The company plans to strengthen its presence and expand its customer reach by doubling its branch network to 60 and building an AUM of over INR 400 crores by FY23.

About Moneyboxx Finance Limited

Beginning operations in February 2019, Moneyboxx currently has 43 branches spread across five states – Rajasthan, Punjab, Haryana, Madhya Pradesh, and Uttar Pradesh.

Moneyboxx provides unsecured and secured business loans ranging from INR 70,000 to INR 700,000 to individual borrowers for income generation purposes in essential and important segments (livestock, kirana, traders, and micro-manufacturers) in Tier-III and below places.

This article was shared with Prittle Prattle News as a Press Release.

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