Emerald Finance Secures ₹10 Crore Term Loan from ICICI Bank to Boost Business Expansion
Emerald Finance Ltd has successfully raised a Term Loan of ₹10,00,00,000/- from ICICI Bank Limited. This financing is designated for the further expansion of the company’s business operations.The funds secured by Emerald Finance will be primarily utilized in onward lending activities. A key focus area identified for these resources is the Earned Wage Access (EWA) Program. Under this structured program, which involves collaboration with their employers, employees of leading corporates are granted seamless access to a portion of their earned salaries during the month through short-term credit facilities offered by the company.
The successful acquisition of this facility reinforces Emerald Finance's financial standing, as the company now maintains banking relationships with two major institutions in India: State Bank of India and ICICI Bank Limited.
Emerald Finance stated that these established banking partnerships are expected to significantly strengthen its funding profile and enhance operational scalability. The resources gained through this loan will support the continued growth and expansion of the company's lending business.
Stock Price Movement
Emerald Finance Ltd finished the trading week on Friday, settling at ₹53.68 after a 1.00% gain. Shares experienced intraday movement throughout the session, hitting a low of ₹52.71 but managing to post highs of ₹55.50.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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