The credit facility extended to these three companies has been provided with partial funding from the Shell Foundation. The Shell Foundation offers viability-based lending to fast-growing Small and Medium Enterprises (SME’s).
IntelleCash, a Non Banking Finance Company specializing in incubating start-ups and providing commercial loans to SME’s in the energy and infrastructure sector, announced last week that that it has provided loans to three fast-growing small businesses under its new SME credit facility part-funded by Shell Foundation.
IntelleCash has provided these loans to Husk Power Systems, a rural electrification company which operates by using an innovative biomass gasification technology that converts rice husks into electricity; Vortex Engineering, a manufacturer of low cost, rugged and reliable, low power consuming ATMs; and Global Easy Water Product Private Ltd , a for profit social enterprise that focuses on developing and delivering low-cost irrigation solutions to small farmers.
Speaking on the initiative , Mr R.S. Mani, IntelleCash CFO & in-charge said “ We are delighted to partner with Shell Foundation on this key SME initiative for the Indian market. Strategically, IntelleCash is interested in expanding its loan portfolio to include the wider small business segment with an end-to-end perspective in the energy & infrastructure sectors and this credit facility represents our first foray into non-microfinance loans.”