Satin Creditcare Network Limited (SCNL) has successfully raised EUR 15 million in External Commercial Borrowing (ECB). The funding was secured from OeEB ­ Oesterreichische Entwicklungsbank AG ­ the Development Bank of Austria. The ECB has a tenure of five years, during which the funds raised will be strategically utilized to expand SCNL's business operations and enhance micro-credit access for its customers.

These efforts will be facilitated through the Company's Income Generating Loan (IGL) and WASH Loan programs, both tailored to support and empower rural women entrepreneurs. Furthermore, this initiative aims to foster economic growth and elevate living standards in underserved communities. This marks the Company's third transaction with OeEB, following the successful collaboration in 2019 and 2021, which raised a total of USD 20 million.