Moneyboxx Finance launches agroforestry drive as part of its beyond lending initiative to significantly elevate borrowers’ income
National, September 13, 2022: 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 along with 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.
Commenting on this initiative, Mr. Deepak Aggarwal, Co-founder Moneyboxx Finance Ltd said, “Moneyboxx is committed to make beyond lending initiatives as core to its business operations. India has the highest population of cattle in the world and about 2/3 of the rural population depends on the dairy industry. To help our borrowers who are dairy farmers, 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.”
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 AUM of over INR 400 crores by FY23.