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US International Development Finance Corporation sanctions $20 million loan for Ummeed Housing Finance
The American funding body will provide the debt at a 4.25% fixed rate for 15 years, Ummeed's founder and managing director Ashutosh Sharma said. "This DFC facility would allow us to extend longer tenure credit to the underbanked population to assist with home purchases, construction, and extension. This will also help us diversify the wagon wheel of liability while the funding is attractive from an interest rate perspective," Sharma told ET.The US International Development Finance Corporation (DFC) has sanctioned a $20 million long term loan for Gurgaon-based Ummeed Housing Finance to fund housing needs of the economically weaker and middle-income groups.
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