SBFC Celebrates Opening of 130th Branch

Photo credit: SBFC

In June 2021, SBFC celebrated the opening of its 130th branch in India, in the city of Yamunanagar. SBFC is a rapidly growing financial services institution, headquartered in Mumbai, which serves entrepreneurs and the owners of micro, small and medium-sized enterprises throughout India with loans to grow their business.

The opening of the new branch marks further hard-won progress for SBFC, which has continued to serve small businesses and consumers with credit throughout the pandemic. With the opening of the new branch, the total SBFC team grows to more than 1,600 staff.

Yamunanagar’s new facilities add a sixth branch to the network in the Indian state of Haryana. SBFC can now be found in 98 cities across India.

Yamunanagar is well known for its industries, and is a city where many small and medium-sized businesses can benefit from credit in order to enhance their growth prospects and immediate expansion needs. It has emerged as an important industrial destination in the state. The city produces sugar and paper machinery as well as equipment for petrochemical plants, which are shipped to various refineries across the country. The city is also well-known for its plywood units, providing timber to larger industries. Yamunanagar also has one of India's largest railways, carriage and wagon repair workshops. The western Yamuna canal flows through one side of the city, serving the irrigation needs of farmers via its 100 year-old pathways, known locally as ‘Pattris’.

In June, SBFC’s loan disbursements reached all-time highs following the second wave of Covid-19 in India, with more than 200,000 customers served since the lender was founded in 2017.

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