LendThrive Finance to start NBFC operations from Pune
Arizona-headquartered AVANA Companies will start providing in the next six months US capital for covering the US$300 billion MSME funding gap in India after receiving Certificate of Registration (CoR) for a non-deposit taking Non-Banking Financial Company (NBFC) license from the Reserve Bank of India (RBI).
This expansion provides a direct bridge for US capital into India’s US$300 billion. AVANA has committed an initial capitalization of US$1.5 million to meet license requirements and plans to invest another US$20 million to grow the business, with a total investment goal of US$25 million over three years.
On receiving RBI approval, the company has opened a regional office in Pune for its wholly owned subsidiary LendThrive Finance Private Limited with plans to launch direct commercial lending operations to Micro, Small, and Medium Enterprises (MSMEs) in India within the next six months.
This will extend AVANA’s successful model that has deployed over US$6.5 billion in loans to more than 500 small businesses across the United States.
For AVANA’s US partners, this move represents AVANA’s evolution into a global private credit platform capable of deploying capital across the United States, Middle East, and now India.
“India represents a tremendous opportunity for AVANA Companies to extend our mission of providing capital that fuels entrepreneurship, job creation, and sustainable growth across borders,” said Sundip Patel, CEO and co-Founder of AVANA Companies.
“As an entrepreneur with Indian heritage, I’ve seen firsthand how access to capital transforms businesses and communities. This expansion allows us to bring our relationship-driven lending approach to a country where family businesses and entrepreneurs drive the economy, creating meaningful impact in communities across India,” he said on 26 Aug.
This strategic expansion positions AVANA to tap into India’s rapidly growing economy, projected to grow at 6.5-7% annually, while addressing a critical US$300 billion credit gap facing the country’s 63 million MSMEs.
For US stakeholders, this represents an entry into a market that is both economically vital and underpenetrated by formal credit, particularly in sectors where AVANA already has deep expertise, such as hospitality, MSMEs, and real estate-backed lending.
Within this landscape, AVANA sees strong potential in India’s hospitality sector, where current loans total approximately US$20 billion, including US$3 to US$4 billion from NBFCs. The industry is projected to grow at 12% annually through 2030, reaching over US$30 billion and adding 500,000+ new hotel rooms.
“For our US Hospitality partners, this expansion presents a significant cross-border growth channel, supported by AVANA’s established financing models and relationships. AVANA can now deploy capital directly in India without intermediaries, enabling faster loan processing, stronger borrower relationships, and more efficient use of investor funds,” said AVANA.
“Small business owners are the heartbeat of India’s economy, driving innovation and creating jobs in communities across the country,” said Patel. “By combining our tech-enabled lending approach with our impact-first philosophy, we see tremendous opportunity to improve access to capital for these entrepreneurs, unlocking their fuller potential. We see the faces behind these businesses and understand their aspirations go beyond balance sheets.”
AVANA will launch lending operations from its Pune headquarters within six months, with regional expansion to other key cities, including Mumbai, Bangalore, Hyderabad and New Delhi in the future. AVANA recently hired Siddharth Purandare, former head of SME business at Edelweiss Financial Services, as managing director for India operations. The company is actively hiring for key roles in compliance, accounts, credit, operations and sales and plans to build a team of about 120 people if the company reaches $1 billion in business over the next 5-7 years.
AVANA’s digital-first operational approach includes customer onboarding through digital channels, with a physical team for loan servicing and collections. The company will establish branches in major cities as hubs for regional operations and work with loan sourcing agents to acquire customers. While initial lending will focus on working capital, hospitality, and real estate-backed loans, the company also plans to scale into supply chain finance, equipment financing, and import-export financing for small businesses operating between India, USA, and Gulf regions, segments with strong parallels to AVANA’s US portfolio.
This expansion follows AVANA’s US success, where it provided over US$1 billion to minority-owned businesses and created more than 5,500 jobs.
Founded by brothers Sundip and Sanat Patel in 2002, AVANA Companies comprise of an asset management platform (AVANA Capital), a Credit Union Servicing Organization (AVANA CUSO), a bank (AVANA Bank) and fintech lending and investment platforms for global markets (LendThrive™ & EqualSeat™).
AVANA companies collectively provide funding for small businesses and private credit investment opportunities for institutional and retail investors. The company’s goal across the lending programs is to empower American small businesses by providing commercial real estate loans that are impactful and socially driven. For investors, AVANA Companies provides sound investment opportunities secured by real estate and driven by highly qualified sponsors.
AVANA is headquartered in Arizona, with regional offices in Bahrain, Saudi Arabia and India. It serves small business owners and investors across the United States, Saudi Arabia and Bahrain.
AVANA invests in the communities it serves, creating jobs, stimulating economic growth and contributing to sustainable projects. Fiinews.com
