Vijayawada: Auxilo Finserve has announced its plans to fund over 10,000 schools and education institutes across India in the coming five years. The company will provide finance to education institutes to meet their requirements across capacity enhancement, purchase of land for expansion of premises, upgradation of teaching facilities and for replacement of high-cost debt.
With the aim to provide support to the entire education ecosystem in India, Auxilo will provide finance to education institutes like play/pre-schools, K-12 schools, boarding schools, colleges, universities, vocational colleges and institutions focussed on skill-based training, coaching institutes, school bus loans and education led SMEs that are into book publishing, digital content provision, IT solutions, stationery supply, furniture production and uniform distribution amongst others, according to a release.
Speaking on the Education Institution Loan (EIL) business, Neeraj Saxena, MD & CEO of Auxilo Finserve said “we started educational institution funding in March 2018 but the impact of pandemic in the coming years slowed down our plans. With things back to normalcy, we are now aggressively pursuing this segment”. Auxilo is already present in southern States like Andhra Pradesh, Telangana, Karnataka and Tamil Nadu and is strengthening its operations in other important states like Maharashtra, Madhya Pradesh, Gujarat, Rajasthan, Haryana, Uttar Pradesh, Odisha, Jharkhand and Chhattisgarh in a phased manner, he said.
